HomeMy WebLinkAbout08-466NOVEMBER 25, 2008 08-466 RESOLUTION
(CARRIED 7-0 LOST LAID OVER WITHDRAWN )
PURPOSE: AUTHORIZE AMENDMENT TO THE PAYMENT IN LIEU OF
TAXES FROM THE WATER UTILITY TO THE CITY
INITIATED BY: CITY ADMINISTRATION
WHEREAS, the City owns and operates a public Water Utility, and the Water
Utility pays to the City a payment in lieu of property taxes; and
WHEREAS, there is a calculation of the amount of the payment in lieu taxes
authorized by Wisconsin State Statutes (66.0811(2)) which provides that the payment
shall be at least equal to the payment made on the property for taxes levied unless a
lower amount is authorized by the governing body of the municipality; and
WHEREAS, a payment in lieu of property taxes lower than the calculated amount
was authorized by the City in 1998, that amount being $650,000 per year;
WHEREAS, state statute would require the Water Utility to make to the City a
payment in lieu of taxes in the amount equal to the property taxes levied (which for the
current year would be $1,537,718.00), unless a lesser amount is authorized by the City.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the Water Utility shall pay to the City $1,000,000 per year as a payment in
lieu of taxes.