HomeMy WebLinkAboutResolution 2023-09 Notice for Public Hearing for Use of Foregone tax levying authority and passage of Resolution (002)
RESOLUTION NUMBER 2023-09
A RESOLUTION OF THE CITY OF REXBURG, IDAHO, TO UTILIZE AND INCLUDE IN THE BUDGET A PORTION OF FORGONE PROPERTY TAXES
WHEREAS, the City Council desires to maintain the overall quality of life experienced by its constituents; and
WHEREAS, the City Council desires to utilize in the Fiscal Year 2024 budget a portion of forgone property taxes in the amount of $65,703 to cover the cost of the services provided by
the City. The City will utilize the increase in the budget from utilizing a portion of foregone property tax for maintenance and operations, specifically to help cover the additional
expenses proposed in the budget to add Public Safety personnel.
WHERAS, the City Council has provided the required notice and held a public hearing regarding increasing the budget to use a portion of the forgone property tax.
NOW THEREFORE, be it resolved by the Mayor and the Council of the City of Rexburg, effective July 5, 2023, that $65,703 of forgone property tax will be utilized and added to the Fiscal
Year 2024 budget through its property tax levying authority.
The City is required as per House Bill 474 to publish notice and hold a public hearing and adopt a resolution stating the governing board’s intent to use the foregone levying authority,
the amount of forgone revenue to be included in the tax levy for that fiscal year, and the purpose for which the forgone revenue will be used. A copy of such resolution must be filed
with the County Clerk and the Idaho Tax Commission when certifying its property tax levy to the county using forgone levying authority.
PASSED BY THE CITY COUNCIL AND APPROVED BY THE MAYOR THIS 5th DAY OF JULY, 2023.
CITY OF REXBURG
Madison County, Idaho
By ____________________________
Jerry L. Merrill, Mayor
ATTEST:
___________________________________
Deborah Lovejoy, City Clerk