HomeMy WebLinkAbout17394 - RESOLUTIONS - 1/16/1991 RESOLUTION NO. 17394
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, AMENDING RESOLUTION NO.
16397 AS AMENDED, ESTABLISHING AN IN LIEU PROP-
ERTY FEE
. WHEREAS Resolution 16397, was approved by the City Council of
Palm Springs on February 3, 1965 ; and
WHEREAS, Resolution No. 16397 established an in lieu property
fee to be paid by 'i:he City's enterprise funds; and
WHEREAS, the City Council of the City of Palm Springs Desires
to modify the procedure for implementing the i-n lieu property
fee;
NOW THEREFORE DE IT RESOLVED by the City Council of the City
of Palma Springs that Section 2 of Resolution No. 16397 is
amended to read as follows.
Section 2 . The fee is to be one percent of the histori-
cal value of the property, plant and equip-
ment held by each enterprise fund except for
the Wastewater fund and the Golf Course
y fund, where the fee is to be based on esti-
mated full market value.
The value or the property, plant and equip-
ment held by each enterprise fund will be
adjusted upward by 2% annually,; for purposes
of calculating the in lieu fee.
Adopted this 16th day of January , 1991.
AYES, Councilmembers Hodges, Hurawski and Playor pro tem Broich
NOES., None
ABSENT * Counci lmember Neel and E4ayor Bono
ATTEST: ,__ ✓ CITY OF PALM SPRINC4S, CALIFORNIA
By
city Clerk Acting Ci�y Manager
' REVIEWED AND APPROVED_
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