MEMORANDUM

TO: Pete Sprague, Assembly President

Members, Kenai Peninsula Borough Assembly

THRU: Dale Bagley, Mayor

FROM: Colette Thompson, Borough Attorney

Scott Holt, Finance Director

Shane Horan, Borough Assessor

John Simmons, Assistant Borough Attorney

DATE: March 4, 2004

SUBJECT: Resolution 2004-037, revising personal property tax return

KPB 5.12.180 requires assembly approval of personal property tax return forms. By this resolution, the assembly approves the attached personal property tax return form. The form revises the current form to be consistent with the changes contained in Ordinance 2003-45, adopting a flat tax on aircraft, and reflects the KPB 5.12.180 requirements for filing returns on personal property subject to personal property tax in the borough.

Please note that this resolution should be considered only after the assembly votes on Ordinance 2003-45, adopting a flat tax on aircraft. If that ordinance is not enacted, or is significantly amended, the administration respectfully requests an opportunity to amend the form appropriately and to submit the revised form for assembly approval.