Explanation
BACKGROUND:
This is an annual event. Council has authorized the City Auditor to request and receive advances on property taxes and estate taxes, both of which will then be available on a monthly basis.
FISCAL IMPACT:
Provide a better cash flow for the Treasurer. If not needed for current expenses, we can invest it.
REASON FOR EMERGENCY:
Funds are available beginning the first week of January 2008.
Title
To authorize the City Auditor to request advance payments of property and estate taxes from the Franklin, Fairfield and Delaware County Auditors during 2008 and to declare an emergency.
Body
Whereas, it has been the custom of the City of Columbus to have the City Auditor handle all advance payment requests for both property taxes and estate taxes from the Franklin, Fairfield and Delaware County Auditors; and
Whereas, an emergency exists in the usual daily operation of the City in that the Franklin, Fairfield and Delaware County Auditors have advised that a resolution be passed by the City Council as required by Chapter 321 of the Ohio Revised Codes, authorizing advance payment requests for the City of Columbus for both the property taxes and estate taxes, thereby preserving the public health, peace, property, safety, financial stability and welfare; now, therefore,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the City Auditor is hereby authorized and directed to request from the Franklin, Fairfield and Delaware County Auditors advance payments for all taxes collected, in accordance with all procedures prescribed in Chapter 321 of the Ohio Revised Codes, during fiscal year 2008.
Section 2. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this resolution is hereby declared to be an emergency measure and shall take effect and be in force from and after its adoption and approval by the Mayor or ten days after adoption if the Mayor neither approves nor vetoes the same.