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HomeMy WebLinkAboutResolutions - 1996.10.17 - 248960/1(14, 6L w 3 64 1,1'13 October 17, 1996 MISCELLANEOUS RESOLUTION #96 2 3 7 BY: Commissioners Thomas A. Law, Jeff Kingzett, Lawrence A. Obrecht IN RE: AMENDMENT TO MR 95265, CREATION OF MILLAGE REDUCTION AND STABILIZATION FUND To the Oakland County Board of Commissioners Chairperson, Ladies and Gentlemen: WHEREAS Oakland County's financial statements show that the County maintains more than 160 separate funds for purposes large and small; and WHEREAS these funds are established to account for earmarked or dedicated revenue; and WHEREAS from time to time permanent cost savings are realized by cutting expenditures or increasing efficiencies; and WHEREAS unless those permanent cost savings are used to reduce Oakland County's millage rate, the benefit of such savings are not apparent to the taxpayers; and WHEREAS by adoption of MR 95265, the Board of Commissioners created an account for excess revenues dedicated to relieving the tax burden on Oakland County residents and businesses; and WHEREAS MR 95265 currently states: NOW THEREFORE BE IT RESOLVED that the 1996 General Appropriations Act be amended by adding the following: "BE IT FURTHER RESCLVED that a Millage Reduction and Stabilization Fund ;Fund) be created for the primary purpose of reducing the County's millage rate. Resources shall be placed in the Fund by action of the Board of Commissioners and may be appropriated from this Fund only if the following two conditions are met: 1. The appropriation is made by resolution adopted by a 2/3 vote of the members elected and serving on the Oakland County Board of Commissioners. 2. Such an appropriation resolution can only be adopted following a 28-day notice and Public Hearing." NOW THEREFORE BE IT RESOLVED that MR 95265 be amended to read in the first BE IT FURTHER RESOLVED: (new language in bold script) BE IT FURTHER RESOLVED that a Millage Reduction and Stabilization Fund (Fund) be created for the primary purpose of reducing the County's millage rate. Resources shall be placed in the Fund by action of the Board of Commissioners and may be appropriated from this Fund only if the following two conditions are met: 1. The appropriation from this fund for any use other than millage reduction is made by resolution adopted by a 2/3 vote of the members elected and serving on the Oakland County Board of Commissioners. 2-and such an appropriation resolution can only be adopted following a 28-day notice and Public Hearing. 2. The appropriation from this fund for the purpose of providing a millage rate reduction is made by resolution adopted by a majority vote of the members elected and serving on the Oakland County 'Board of Commissioners. Chairperson, we ?love the adoption of the foregoing resolution.