HomeMy WebLinkAboutResolution 01-50 07/16/2001
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RESOLUTION NO. ill-50
REGARDING ROOM TAX ALLOCATION
WHEREAS, the Springfield City Council at its June 11,2001 work session discussed
how future Room Tax revenue would be allocated in future fiscal years, beg~nning with
the 2001-02 fiscal year. i
WHEREAS, the Springfield City Council determined that they wanted t6 have a mid-
fiscal year review of the Room Tax revenue to determine whether forecasts rvere on
target. '
WHEREAS, the Springfield City Council determined that the current rate of9.5%
(5.0% County and 4.5% City) should not be changed at this time. '
WHEREAS, the Springfield City Council determined that the they want~d to have the
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transfer of operating funds from the Transient Room Tax Fund remain at the amount
stated in the in the FY 02 budget approved by the Springfield Budget Comniittee.
NOW, THEREFORE, Be IT RESOLVED, by the Common Council of the City of
Springfield as follows: '
Room Tax revenue will be allocated in the following manner, commencing July 1,
2001: 55 percent to General Fund and 45 percent to allocate through the co~munity
disbursement process. '
ADOPTED BY THIS COMMON COUNCIL AND APPROVED BY THE MAYOR OF
THE CITY OF SPRINGFIE~~~'2f' 2001.
MAYOR (J
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REVIEWED & APPROVED
A TO F?RM..)
DATE: ' 3
OFFICE CDF CITY ATTORNEY