HomeMy WebLinkAbout2017-002 Foregone Property TaxesResolution No. 2017-02
A Resolution of the City of Chubbuck, Bannock County, declaring the intent to collect
$112,307 in foregone property taxes for fiscal year 2018 and declaring the purpose for
which the forgone taxes are being budgeted.
Whereas, the City of Chubbuck intends to include $112,307 of its accumulated balance of
$362,094 in foregone taxes in its FY 2017 budget as authorized by Idaho Code Section
63-802; and,
Whereas, the purpose for the levy of foregone taxes is to fund road construction and
improvements; and
Whereas, the City of Chubbuck provided notice of its intention to levy foregone taxes by
publishing notice in the Idaho State Journal on July 25, 2017 and August 1, 2017; and
Whereas, the City Council held a public hearing concerning its intention to collect the
foregone taxes as contemplated by this resolution on August 2, 2017 in order to receive
public comment on the proposal; and
Whereas, the published notice and public hearing satisfied the notice and hearing
requirements in Idaho Code Section 63-802.
Now therefore be it resolved, by a majority vote taken by the City Council of the City of
Chubbuck on August 16, 2017 that the above stated amount be included in the property
tax to be levied in FY2018.
Approved by the City Council on this 16" Day of August, 2017.
Mayor Kevin rigl
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City Clerk Rich Morgan