HomeMy WebLinkAbout2018-008 Foregone Property TaxesResolution No. 2018-08
A Resolution of the City of Chubbuck, Bannock County, declaring the intent to collect $98,978 in
foregone property taxes for fiscal year 2019 and declaring the purpose for which the forgone taxes are
being budgeted.
Whereas, the City of Chubbuck intends to include $98,978 of its accumulated balance of $249,787 in
foregone taxes in its fiscal year 2019 budget as authorized by Idaho Code Section 63-802; and,
Whereas, the purpose for the levy of foregone taxes is to fund capital 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 24, 2018 and July 31, 2018; and
Whereas, the City Council held a public hearing concerning its intention to collect the foregone taxes as
contemplated by this resolution on August 1, 2018 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 15, 2018 that the above stated amount be included in the property tax to be levied in fiscal year
2019.
Approved by the Council on this 15th day of August, 2018.
J
Kevin Englan
Mayor
Rich Morgan
Clerk