HomeMy WebLinkAboutResolutions - 1989.09.14 - 17168FINANCE COMMIT
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NG RESOLUTION
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MISCELLANEOUS RESOLUTION # 89217 September 14, 1989
BY: FINANCE COMMITTEE, DR. G. WITLIAM CADDELL, CHAIRPERSON
IN RE: TREASURER - CITY OF PONTIAC TIFA III, 1987 TAX SETTLEMENT
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS a recalculation was made by the Pontiac Tax Increment
Financing Authority in establishing the 1987 captured valuation for the
TIFA III District (originally calculated to be $3,454,700); and
WHEREAS the recalculation has been verified by the Oakland County
Treasurer to be $9,418,200 in captured valuation ($5,963,500 more than
originally calculated); and
this correction represents a shift in the distribution of tax
revenues received in 1988; and
WHEREAS, the County received $27,665 in the General Fund which should
have been distributed to the City of Pontiac in 1988 for the $5,963,500
captured valuation.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of
Commissioners authorizes the following amendment to the 1989 Budget to
correct the previous year's distribution of tax revenues:
4-10100-909-01-00-9900 Contingency Appropriation $(27,665)
4-10100-907-01-00-3260 City of Pontiac - TIFA III 27,665
$ -0-
Mr. Chairperson, on behalf of the Finance Committee, I move the
adoption of the foregoing resolution.
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Resolution # 89217 September 14, 1989
14th day of
LYNN
September 1989
ALLEN, County Clerk/Resls_ter oF
Moved by Caddell supported byFerrens the resolution be adopted.
AYES: Oaks, Olsen, Pappageorge, Pernick, Price, Rewold, Skarritt, Wolf,
Aaron, Bishop, Caddell, Calandra, Chester, Crake, Ferrens, Gosling, Hobart, Jensen,
Johnson, R. Kuhn, Law, Luxon, McConnell, McCulloch, McPherson, Moffitt. (26)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland•and having a seal,
do hereby certify that I have compared the annexed copy of. the attached
resolution adopted by the Oakland County Board of Commissioners at their regular
meeting held on September 14, 1989
with the original record thereof new remaining in my office, and
that it is a true and correct transcript therefrom, and of the
whole thereof.
In Testir7,ony Whereof, 1 have hereunto set my hand and affixed the
seal of said County at Pontiac, Michigan
this