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403.2005 RESOLUTION REQUESTING AND AUTHORIZING WARREN COUNTY TO RETAIN SALES TAX REVENUES AND OFFSET PROPERTY TAXES RESOLUTION NO.: 403, 2005 INTRODUCED BY: Mr. Tim Brewer WHO MOVED ITS ADOPTION SECONDED BY : Mr. Theodore Turner WHEREAS, Warren County receives sales tax revenues resulting from sales transactions taking place within the County and a substantial portion of such transactions occur within the Town of Queensbury, and WHEREAS, portions of the Warren County sales tax revenues are annually allocated and paid to each one of Warren County’s municipalities, and WHEREAS, the Queensbury Town Board has lowered Town residents’ County tax in the years 2004 and 2005 by authorizing Warren County to withhold sales tax revenue, and WHEREAS, the Town Board would like to authorize an increased amount of sales tax to be withheld by Warren County which would be applied to reduce 2006 Warren County property taxes, and WHEREAS, the Town Board has determined that the current total fund balance again exceeds the reasonable amount needed for revenue stabilization, cash flow, contingencies, and contemplated capital projects, and the Town Board wishes to undertake a greater reduction of county taxes on Queensbury property, and WHEREAS, the Town Board feels that a larger amount for 2006 is warranted, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board authorizes Warren County to retain $2,500,000 of Warren County sales tax revenues allocated to the Town of Queensbury in 2006 and apply such revenues to reduce the annual County property taxes on real property in the Town of Queensbury, and BE IT FURTHER, RESOLVED, that the Town Board requests that Warren County evenly redistribute the annual amount(s) to be retained, thereby retaining the Town’s sales tax rebate on a quarterly basis, and BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Clerk to file a certified copy of this Resolution with Warren County’s Chief Fiscal Officer by mailing such st Resolution by registered or certified mail before September 1, 2005 in order to take effect for the calendar year 2006, and BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Clerk, Town Supervisor and/or Town Budget Officer to provide any other required documentation to Warren st County prior to September 1, 2005 and take any and all other action necessary to effectuate all terms of this Resolution. th Duly adopted this 15 day of August, 2005, by the following vote: AYES : Mr. Stec, Mr. Boor, Mr. Turner, Mr. Strough, Mr. Brewer NOES : None ABSENT: None 2