2001 - Saginaw County

Board of Commissioners February 27, 2001
Respectfully submitted,
COMMITTEE ON COURTS & PUBLIC SAFETY
Richard F. Mallette, Chair
Patrick A. Wurtzel, Vice-Chair
Jeanine A. Collison
Eddie F. Foxx
James M. Graham
Robert L. Fish
APPROPRIATIONS AUTHORIZATION: It is the recommendation of your
committee to concur with the above.
James M. Graham, Chair
Connie D. Smith, Vice Chair
By Commissioner Mallette: That the Report of the Committee be
received and the recommendations contained therein be adopted.
Approved.
FROM: COMMITTEE ON COUNTY SERVICES -- 2.1 FEBRUARY 27, 2001
Your committee has considered communication 2-27-3 from Marvin D.
Hare, County Treasurer forwarding for approval the resolution
authorizing the County borrowing for purchase of 2000 Delinquent
Taxes along with the Resolution of Agency.
The notes will be sold as taxable issue this year, the same as the
past thirteen years. With the 2001 contribution of $1,180,000,
the Delinquent Tax Revolving Fund will have contributed
$26,228,856.50 to the General Fund since 1980 (see attached). The
estimated borrowing amount for purchase of delinquent 2000 real
property taxes is as follows:
County Spread (Real only) $ 110,333,913.00
Special Assessments 8,966,738.00
TOTAL 119,300,651.00
90% collections 107,370,586.00
10% delinquent 11,930,065.00
Advance from D.T.R. (1,000,000.00)
Collections through May 2001 (1,000,000.00)
$9,930,065.00
Estimated County Purchase $ 9,500,000.00
We recommend that the County purchase the 2000 Delinquent Taxes,
as outlined above. Under the proper order of business the
appropriate resolutions will be submitted authorizing the 2000
borrowing, and designating the County Treasurer as Agent for the
County.
Respectfully submitted,
COMMITTEE ON COUNTY SERVICES
Todd M. Hare, Chair
Raymond F. Bartels, Vice-Chair
Kenneth B. Horn
Michael P. O'Hare
Carl E. Ruth
Robert L. Fish
By Commissioner Hare: That the Report of the Committee be received
and the recommendations contained therein be adopted. Approved.
Attachment 2.1
DISTRIBUTION TO THE GENERAL FUND
FROM THE DELINQUENT TAX REVOLVING FUND
2001 1,180,000.00 Budgeted
2000 1,030,000.00
1999 1,030,000.00
47