NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — The Hutchinson City Council approved beginning the process of rolling back the .35% sales tax for the Hutchinson Sports Arena at their meeting on Tuesday.
"Back in April of 2015, the city submitted a question on the ballot proposing a 0.35 percent sales tax to finance improvements to the sports arena," said City Finance Director Angela Richard. "The sales tax was approved and it began in July of 2015. The sales tax was set to expire 10 years after or whenever the sales tax revenue is sufficient to pay off the bonds. We are now at a point where we have, we will have collected by October 1 enough to pay off the bonds. We will be paying off the bonds entirely and we will expire the sales tax."
With Tuesday's approval, now it's time to do the official work.
"We will publish the ordinance and then we will send a copy to the Department of Revenue prior to July 1 requesting the termination on October 1," Richard said. "Then we will file the ordinance with the county. We will pay the 2014 bond payments in October as well as the 2025 payment at that time. And at that time on October 1, the sales tax rate will be reduced from 1.1 to 0.75 for the city portion of the sales tax."
The ordinance was approved unanimously.
CLICK HERE to download the Hutch Post mobile app.
CLICK HERE to sign up for the daily Hutch Post email news update.