HomeMy WebLinkAboutResolution 080-2007 RESOLUTION NO. 80-07
A Resolution Approving The Payment Of The Insurance Premium Tax Proceeds To The
Brookings Volunteer Firefighters
Deferred Compensation Plan.
WHEREAS,the City of Brookings receives annually a share of the Insurance
Premium Tax which is distributed by the State of South Dakota and is allocated by the
Brookings County Auditor among the certified fire departments servicing the County of
Brookings; and
WHEREAS, the Insurance Premium Tax, pursuant to SDCL 10-44-9.6, may only
be used to pay operating expenses,pension contributions and the cost of capital
improvements of fire departments; and
WHEREAS,the City of Brookings has previously used the Insurance Premium
Tax exclusively to fund the Volunteer Fire Fighters Compensation Plan and desires to
formalize this practice by Resolution of the City of Brookings,
NOW THEREFORE, IT IS HEREBY RESOLVED by the City Council of the
City of Brookings, South Dakota, as follows:
That the City of Brookings hereby designates that the Insurance Premium Tax
which is allocated annually by the Brookings County Auditor shall be used, in
accordance with SDCL 10-44-9.6, only to pay operating expenses of the Brookings Fire
Department, for pension contributions by the City of Brookings to the Brookings
Volunteer Fire Fighters Deferred Compensation Plan, and for capital improvements of
the Brookings Fire Department.
Passed and approved on the 27th day of November 2007.
CITY OF BROOKINGS
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o=: 2% cott :. unsterman, Mayor
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ari L. Thomes, City Clerk