Reso 1997-0019 - Laserfiche WebLink

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Municipal Services at the same levels of service as have been provided since the date of incorporation to the residents and others in the City through September 30, 1997: The parties agree that the City is entitled to receive utility tax revenues commencing June 16, 1997, pursuant to Florida Statute 166.231 and City Ordinance 97 -3. Due to the time required to adjust the accounting systems of utility tax collectors, some utility tax revenue may have be~n remitted to the County instead of to the City. The County estimates that the utility tax collections accruing from utility accounts in the City for the Interim Period are approximately $215,000 per month. The County advanced the City on September 19, 1997, the sum of $300,000 on account of utility tax due to the City. The County agrees to advance an additional $500,000 within 10 days of execution of this Agreement, which sums shall be credited to the County as a portion of the payment due for the utility taxes as set forth below. The City shall submit to the County (1) a statement from the utility companies of their actual utility tax collections or best estimates of such collections from accounts within the City forthe period June 16,1997, through September 30, 1997, (2) an accounting of the sums actually received by the City, and (3) a statem7nt of the advances paid by the County to the City. Upon receipt of these statemen!s and accounting from the City, the County will pay the City utility tax revenues received by the County between June 16, 1997, arid September 30, 1997, which are due to the City minus any advances made to the City as required by this Agreement. This payment shall be made within thirty (30) days of the receipt by the County of the statements and accounting described herein, subject to the County's audit. If the County deems it 11 '1