Title
Resolution No. 19-20, Declaring Oregon City’s Election to Receive State Revenues
Body
RECOMMENDED ACTION (Motion):
Move to adopt Resolution No. 19-20, A Resolution Declaring Oregon City's Election to Receive State Revenues.
BACKGROUND:
Oregon City is eligible to receive approximately $405,000 for 2019/20 and $415,000 for 2020/21 in state revenue sharing funds (liquor tax revenue). In order to receive the revenue, the City must have levied property taxes in the preceding year, and:
1. Pass a resolution approving participation in the program and file a copy of that resolution with the State prior to July 31 each year,
2. Hold the following hearings on the use of state revenue sharing funds: a) a public hearing before the Budget Committee to discuss possible uses of the funds and b) a public hearing before the City Commission on the proposed uses of the funds in relation to the entire budget, and
3. Certify to the Oregon Department of Administrative Services no later than July 31 of each year.
BUDGET IMPACT:
FY(s): 2019/20 and 2020/21
Amount: General Fund revenue of $820,000 over the biennium