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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: <br />Originating Department: <br />Presented By: <br />Agenda Item No.: <br />11-21-11 <br />Council Date: <br />City Manager <br />Gene Anderson <br />15. <br />12-12-11 <br />RECOMMENDED MOTION: <br />Motion to approve an ordinance to provide for the continued taxation of certain goods-in-transit during 2012. <br />POLICY ISSUE(S): <br />Fiscal management. <br />Last June the state legislature modified the existing law on certain types of goods-in-transit. This <br />modification requires the City to take official action before December 31 St to provide for the continued <br />taxation of certain goods-in-transit in 2012. This exemption would be in addition to the Freeport <br />exemption the City already grants and is sometimes referred to as the "super Freeport" exemption. It <br />allows goods to be exempted from taxation if they are stored at warehouses not owned by the owner of <br />the goods. <br />In 2007, the City Council passed an ordinance (2007-047) to continue taxing these goods. It is <br />recommended that the goods continue to be taxed. Failure to do so would cost the City approximately <br />$104,000 per year. <br />BOARD/ COMMISSION RECOMMENDATION: <br />None <br />EXHIBITS: <br />Ordinance. <br />ACTION: <br />BUDGET INFO: <br />❑ Financial Report ❑ Minute Order <br />Expense <br />$NA <br />❑ Department Report ❑ Resolution <br />Budgeted Amt. <br />$NA <br />❑ Presentation ~ Ordinance <br />y'r'D Actual <br />$NA <br />❑ Public Hearing ❑ Other <br />Acct. Name <br />NA <br />Acct. Number <br />NA <br />FISCAL NOTES: <br />None <br />REVIEWED AND APPROVED BY: <br />E] Administration E City Clerk ❑ Community Development ❑ EMS/IT ❑ Finance ❑ Fire <br />❑ Municipal Court N Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities <br />City of Paris , Revised 2/04/08 <br />J~ <br />