07-21-2014 - Laserfiche WebLink

Commission Minutes—July 21, 2014 4328 MOTION, passed Mr. Bennett moved and Mr. Vanyo seconded to adopt Resolution #2014- 12, Dedicating Cass County Sales and Use Tax. On roll call vote, the motion carried unanimously. RESOLUTION #2014-12 DEDICATING CASS COUNTY SALES AND USE TAX WHEREAS, the electorate of Cass County, North Dakota, has adopted a Home Rule Charter in accordance with Chapter 11-09.1 of the North Dakota Century Code and authorized Cass County to enact a sales and use tax; and WHEREAS, the governing body of Cass County has enacted Ordinance No. 2010-2 establishing a one-half percent (1/2%) sales and use tax which provides that the proceeds of said tax may be dedicated for debt incurred for a Red River Diversion and other flood control measures, as authorized by the Cass County Commission; and WHEREAS, the City of Fargo and Cass County are planning to cooperate in the issuance of temporary and long term debt to provide funds for the planning, design and construction of the FM Diversion and related project elements (hereinafter the "Project Debt"); and WHEREAS, the City of Fargo and Cass County have entered into an Intergovernmental Agreement by and between Cass County, North Dakota, and the City of Fargo, North Dakota, dated July 1, 2014 (hereinafter the "Intergovernmental Agreement") which sets forth the procedures by which the two entities will issue Project Debt; and WHEREAS, Cass County, pursuant to the Intergovernmental Agreement and in conformance with Ordinance No. 2010-2, desires to pledge the proceeds of the one-half percent (1/2%) sales and use tax to the repayment of Project Debt. NOW, THEREFORE, BE IT RESOLVED by the governing body of Cass County, North Dakota, as follows: 1. Cass County does hereby authorize the pledging of ninety-one percent (91%) of the proceeds generated by the one-half percent (1/2%) sales and use tax imposed by Ordinance No. 2010-2 to the repayment of Project Debt, in accordance with the Intergovernmental Agreement. 2. This resolution may not be rescinded, modified or terminated, without the consent of the City of Fargo during any period in which the Intergovernmental Agreement is in effect. 3. Cass County may use the remaining nine percent (9%) of the proceeds generated by the one-half percent (1/2%) sales and use tax imposed by Ordinance No. 2010-2 to pay Project Debt if the Cass County Commission determines it is necessary. 4. The sales and use tax dedication set forth in this resolution will not constitute a charge, lien or encumbrance upon any property of Cass County, and no holder or holders of any Project Debt will ever have the right to compel any exercise of the taxing authority of the City of Fargo or Cass County to pay the principal or interest on the Project Debt, other