HomeMy WebLinkAboutResolutions - 1994.10.13 - 24270e )7(1
MISCELLANEOUS RESOLUTION #94303
BY: Jeff Kingzett, Commissioner, District 7
IN RE: MILLAGE REDUCTION FUND
To the Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS Oakland County is expected to realize a $7 million
surplus in fiscal year 1994; and
WHEREAS Oakland County will levy a tax rate in 1995 of 4.4805
mills, which is unchanged from the 1994 tax rate; and
WHEREAS Oakland County will experience growth in State
Equalized Value and new construction in 1995; and
WHEREAS Oakland County has significant cash reserves on hand
to sufficiently protect against future unanticipated financial
constraints.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of
Commissioners authorizes the establishment of a "Millage Reduction
Fund" account into which the 1994 designated surplus, plus
accumulated interest, shall be deposited.
BE IT FURTHER RESOLVED that the 1996 Oakland County tax rate
be reduced by the amount that equals the 1994 designated surplus
plus accumulated interest.
Chairperson, I move the adoption of the foregoing resolution.
41?
Jffiingze , District #7