HomeMy WebLinkAboutResolution 2429 Setting policy of 6% assessment of SIDs REPLACED by 2500
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COMMISSION RESOL UTTON NO. 2429
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOZEMAN DECLARING IT TO BE THE POLICY
TO ASSESS AN ADMINISTRATIVE CHARGE OF SIX
PERCENT (6%) AGAINST ALL SPECIAL IMPROVEMENT
DISTRICTS AT THE TIME OF FINALIZING AND
ASSESSING EACH DISTRICT PURSUANT TO SECTION
7-12-4169, MCA.
WHEREAS, the City of Bozeman incurs certain costs in connection
with creating and maintaining special improvement districts; and
WHEREAS, it is the policy to recover the cost of such
administrative charges as, but not limited to, engineering, legal,
and advertising costs; and
WHEREAS, it is desirable to build and maintain a special
improvemen t district revolvin g fund.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF BOZEMAN, MONT AN A:
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Section 1
That a six percent (6%) administrative charge shall be assessed
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against all special improvement districts at the time of finalizing and
assessing each district. Such charge shall be levied against: (1) the
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actual cost of construction, or (2) the amount of the bond issue,
whichever is the lower.
Section 2
That such funds shall be deposited by the Director of Finance
in the folbwing manner:
1. Three percent (3%) to the General Fund.
2. Three percent (3%) to the SID Revolving Fund.
PASSED AND ADOPTED BY THE CITY COMMISSION at a regular
session thereof held on the 7th day of September, 1982.
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Mayor,~~~ T~mpore
ATTEST:
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Clerk of the City Commission
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