HomeMy WebLinkAboutRes. 20-021A Resolution Establishing a Reserve Fund of the 2019 Surplus
Third B Tax Revenues for SDSU Visitor Promotional Expenditures
Whereas, the City of Brookings desires to support SDSU events and projects that
positively impact the local economy; and
Whereas, the 2019 Third B Sales Tax revenues were greater than expected, likely
resulting from a onetime increase, which led to surplus revenue; and
Whereas, the City of Brookings will commit an additional $7,000 in these Third B Sales
Tax revenues for the SDSU Visitor Promotion Fund for 2020; and
Whereas, the City of Brookings will commit $30,000 in these Third B Sales Tax
revenues to be placed in an SDSU Visitor Promotion Reserve Fund for 2021
expenditures.
Now Therefore, Be It Resolved that the City Council of the City of Brookings directs the
Finance Department of the City to establish the SDSU Visitor Promotion Reserve Fund
with the $30,000 commitment as described herein.
Passed and approved this 25th day of February, 2020.
Keith W. Corbett, Mayor
i:: III, MAE 1 W-P.PC