CCR1991104COMMON COUNCIL - CITY OF MUSKEG0
RESOLUTION #104-91
RESOLUTION TO DISSOLVE TAX INCREMENTAL DISTRICT NO. 1
WHEREAS, the City created Tax Incremental District No. 1 in 1979
and approved a project plan that year, and
WHEREAS, the City's goal was to eliminate blight and promote tax
base expansion by installing public improvements in undeveloped
areas, and
WHEREAS, the City was successful in its efforts to promote the
desired development, resulting in TID No. 1 having received
project costs and sufficient to provide for payment of the
aggregate tax increments in an amount equal to the aggregate
district's outstanding debt liability, and
WHEREAS, Wisconsin Statutes Section 66.46 provides that a district
shall terminate when tax increments are equal to project costs, and
WHEREAS, it is in the best interest of the City and other taxing
entities to terminate the district presently so the increased tax
base is available for the 1991 tax levy year.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City
of Muskego, upon the recommendation of the Finance Committee, does
hereby dissolve Tax Incremental District No. 1.
BE IT FURTHER RESOLVED that the City Clerk shall notify the
Department of Revenue that TID No. 1 has been dissolved by
forwarding a copy of this resolution to it by May 15, 1991.
Adopted this 23RD day of APRIL , 1991.
FINANCE COMMITTEE
Ald. Daniel J. Hilt
Ald. Edwin P. Dumke
Ald. Harold L. Sanders
ATTEST:
City Clerk
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