ADOPTED -
JUNE 27, 2000Agenda Item No. 14
Introduced by the Finance Committee of the:
INGHAM COUNTY BOARD OF COMMISSIONERS
RESOLUTION SUBMITTING TO THE ELECTORATE A TAX LEVY OF .2075 MILLS
FOR FIVE YEARS TO OFFSET THE REQUIRED MILLAGE ROLLBACK OF THE PREVIOUS VOTED INGHAM COUNTY TAX ALLOCATION RATE OF 6.8 MILLS
RESOLUTION #00-170
WHEREAS, in 1970, the voters of Ingham County approved a tax levy of up to 6.8 mills as the Ingham County allocation; and
WHEREAS, pursuant to various constitutional and statutory requirements, that taxing authority has been reduced in 2000 to 6.5925 mills; and
WHEREAS, although the Board of Commissioners has levied only 6.4512 mills for the past 10 years, the remaining unlevied millage has provided a measure of financial flexibility to address unexpected events; and
WHEREAS, the credit rating of the County= s long term bonds has been favorably affected by this unused taxing capacity and contributed to a recent improvement in the credit rating; and
WHEREAS, the Ingham County Board of Commissioners desires to maintain the county= s excellent financial position and strong credit rating.
THEREFORE BE IT RESOLVED, that the Ingham County Board of Commissioners authorizes the following question be submitted to a vote of the electorate in the general election to be held November 7, 2000.
PROPOSAL TO OFFSET MILLAGE ROLLBACKS OF COUNTY OPERATING TAX LEVY
For general County operating tax purposes, shall the Constitutional limitation upon the total amount of taxes which may be assessed within the County of Ingham, Michigan, be increased by .2075 mills ($0.2075 per $1,000 of taxable value) for a period of five (5) years, 2000 through 2004 inclusive, to offset the required millage rollback of the previous voted Ingham County tax allocation rate of 6.8000 mills? (If approved and levied in full, this millage will raise in the first year of levy an estimated $1,129,584 in 2000).
Yes _____
No ______
BE IT FURTHER RESOLVED, that this question is hereby certified to the County Clerk.
BE IT FURTHER RESOLVED, that the Clerk is hereby directed to cause the proposal to be placed on the November 7, 2000 ballot and to be prepared and distributed in the manner required by law.
FINANCE: Yeas: Bernero, Grebner, Czarnecki, Schafer, Minter, Juall
Nays: None Absent: McDonald Approved 6/21/00