HomeMy WebLinkAbout1997-R-05RESOLUTION NO. 97-R- ~
BOARD OF PUBLIC WORKS AND SAFETY
CITY OF JEFFERSONVILLE, INDIANA
RESOLUTION APPROVING PAYMENT IN LIEU OF TAXES
FOR FISCAL YEAR 1997 BY THE JEFFERSONVILLE SEWAGE UTILITY
WHEREAS, Indiana law provides authority for municipally-owned utilities to make
payments to the general fund of the political subdivision in which they operate in lieu of
taxes provided said payments are approved by the Board operating said utility; and
WHEREAS, the Jeffersonville Board of Public Works and Safety is in fact the
Board which operates the Jeffersonville Sewage Utility ("the Utility"); and
WHEREAS, the financial strength and viability of the Utility now allows the Utility
to make a payment in lieu of taxes to the General Fund of the City of Jeffersonville in a
manner similar to that exercised by other municipally-owned utilities throughout the
State of Indiana; and
WHEREAS, the Utility should make a payment in lieu of taxes approximately
equal to the property tax that would be generated if the true tax value of the Utility's
facilities was multiplied by the 1997 Jeffersonville City tax rate for the General Fund
only, which property tax would equal One Hundred Eighty-eight Thousand Dollars
($188,000.00);
NOW, THEREFORE, BE IT RESOLVED by the Jeffersonville Board of Public
Works and Safety that it hereby authorizes and commits the sum of One Hundred
Eighty-eight Thousand Dollars ($188,000.00) to be paid in fiscal year 1997 from the
Jeffersonville Sewage Utility to the General Fund of the City of Jeffersonville as a
payment in lieu of taxes as authorized by Indiana law.
SO ORDERED this Z-"Z--day of'" -,/~:2/'~/' ~ ,1997.
JEFFERSONVILLE BOARD OF
Tony(~arrod, Board Member
ATTEST: / ,,
C. Richard Spenc~}Or. ~"
Clerk and Treasure