HomeMy WebLinkAboutResolution 16-003 Resolution 16-003
Resolution for Opt Out
The City Council of the CITY OF BROOKINGS, SOUTH DAKOTA does hereby state
that the City of Brookings is unable to operate under current state law property tax
limitation provisions. The City therefore OPTS OUT of such tax limitations in the
amount of$1,400,000 per annum, starting with calendar year 2016 taxes payable in
calendar year 2017. This opt out will remain in place for 20 years, covering taxes
payable in calendar years 2017 through 2036. This action has been taken by the City
Council and approved by at least a two-thirds vote of the City Council.
The purpose of the opt out is to provide a revenue source for the funding of a new
Recreational Center. The intent is to finance the new Recreational Center with the tax
proceeds of this Opt Out in an amount not to exceed $18,000,000.
This decision is hereby referred to a vote of the people to be held on April 12, 2016.
If approved by a majority vote of the people, this resolution authorizes the county
auditor to spread an excess levy to raise tax dollars in the above stated amount.
Passed and Approved on this 12th day of January, 2016
Signed:
Mayor Tim Reed
��.��C��� Council Member Keith Corbett
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"�' ' Council Member Dan Hansen
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- Council Member Jael Thorpe
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Council Member Oepke Niemeyer
� , ' � Council Member Patty Bacon
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--°��� � �� Council Member Scott Meyer
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Shari Thornes, City Clerk ;'