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RESOLUTION N0.,W8ar' <br /> A RESOLUTION establishing a uniform rate for payments in <br /> lieu of taxes made by each of the City's enterprise funds to the <br /> City's General Fund. <br /> WHEREAS, the City's Water, Sewer and Transit funds pay an annual <br /> assessment in lieu of taxes , and <br /> WHEREAS, each of the enterprise funds should be assessed on a <br /> proportionately equal basis, <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of Everett <br /> that: <br /> 1. The payment in lieu of tax for each enterprise fund shall be <br /> established by the Director of the Office of Financial Management <br /> at the time the annual budgets are prepared. <br /> 2. The payment established for each enterprise fund shall be equal <br /> to six per cent (6%) of each fund's estimated operating revenues , <br /> including operating assistance grants, for the year being <br /> budgeted. <br /> Council Member Introducing Resolution <br /> PASSED AND APPROVED this thisi/42=day of June 1983. <br /> Council President <br />