34 of 1980 - RESOLUTION AUTHORIZING TRANSFER OF SURPLUS BUDGET TO FISCAL YEAR 1980-81 BUDGET. J RESOLUTION AUTHORIZING TRANSFER
/ OF SURPLUS TO FISCAL YEAR
1980-81 BUDGET
WHEREAS, the Salt Lake City Council has decided to reduce
the Utility Business Revenue License Tax by 1% effective July 1,
1980, and an additional 1€ effective January 1, 1981; and
WHEREAS, the aforesaid tax reductions are estimated to
exceed 1.9 Million Dollars; and
WHEREAS, the City estimates that it will have a surplus from
its 1979-80 fiscal year budget totalling approximately 1.9
Million Dollars; and
WHEREAS, the City desires to return approximately 1.9
Million Dollars of the aforesaid unanticipated surplus in the
form of reduced taxes, pursuant and consistent with Section
10-6-116(2), Utah Code Annotated, 1953, as amended;
NOW, THEREFORE, BE IT RESOLVED BY THE SALT LATE CITY COUNCIL
that 1.9 Million Dollars of the surplus from the City's fiscal
1979-80 year be declared an "Unanticipated Surplus" within the
meaning of Section 10-6-116(2), Utah Code Annotated, 1953, as
amended.
BE IT FURTHER RESOLVED that the aforesaid Unanticipated
Surplus be forwarded as anticipated revenue to the City's 1980-81
fiscal year to fund the tax reductions above identified.
Passed by the City Council of Salt Lake City this 30th day
of June, 1980.
4)0-)6,12-D -7)
C IRMAN
ATTEST:
CITY RECORDER - CHIEF DEPUTY
Transmitted to Mayor on June 30, 1980
Mayor's Action: (Approved)
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MAYOR
ATTEST:
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CITY RECORDER - CHIEF DEPUTY
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•
Resolution No.
By City Council
saciact eacietx
Authorizing transfer of surplus to
Fiscal Year 1980-81 Budget.
!APPROVED
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1,31-1
V GITY REGOP.W.