HomeMy WebLinkAboutResolution 073-2008 Resolution No. 73-08
A Resolution Appropriating Unemcumbered Funds from the Third Penny Sales and Use
Tax Revenue Fund for Purposes of Paying Dues to Membership in the I-29 Corridor
Initiative
WHEREAS, it has been a goal of the City of Brookings to participate in a regional economic
development collaborative along the eastern portion of the state; and
WHEREAS, several communities, including Brookings along and near the Interstate 29 corridor
in South Dakota are joining with other local economic development agencies and institutions of
higher education to form a regional strategy to further overall economic growth, workforce
development, and research opportunities; and
WHEREAS,membership in this collaborative is via the adoption of a Memorandum of
Understanding(MOU) which will serve as an interim governing document until the organization
if more formalized; and
WHEREAS,the City of Brookings and all other members recognize the need for financial
resources to carry out the mission of this effort, and that such resources must from come from
participating members; and
WHEREAS,pursuant to state law, sales tax generated from third penny revenue may be used to
promote the community and this initiative meets this criteria; and
WHEREAS, sufficient third penny sales tax revenue exists to finance said participation.
NOW,THEREFORE, IT IS HEREBY RESOLVED:
That the City Council of the City of Brookings, South Dakota does hereby appropriate the sum
of$10,000 from the 2008 budget of the third penny sales and use tax fund to the I-29 Corridor
initiative.
Passed and approved this 12th day of August, 2008.
CITY OF BROOKINGS
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♦....6.A-,-, colt unsterman,Mayor
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Shari homes, City Clerk