MIN CHC 2010-03-12.tif - Laserfiche WebLink

Home

MS. CRAWFORD: I think you want to use the term "collection," because what we are talking about is receiving payments. We receive payments, and that is what we are trying to tie our transfer to the fund to. This is a cash flow issue and so it is not the assessment. Assessment has a technical meaning in real property tax terms, and the assessment is a valuation. CHR. HAITSUKA: What else can we use? MS. OSBORNE: Bi- annual collection? CHR. HAITSUKA: Bi- annual collection, is that part of the terminology used? MS. OSBORNE: After the majority of the bi- annual taxes have been collected? MS. CRAWFORD Or the taxes have been collected bi- annually. MS. JARMAN: That is still once a year. We could say, "... after each bi- annum...." It's terrible having been an English major. MS. CRAWFORD: Actually, I think you mean "semi- annual" not "bi- annual." MS. JARMAN: Semi. MS. KAWAUCHI: There is a different proposal that I would like to discuss, before trying to withdraw and moving for a new language. The language would be, "Deposits to the fund will occur three times per year. The first deposit to the fund will occur no later than 45 days after the majority of taxes have been collected in the first half of the fiscal year, the second deposit to the fund will occur no later than 45 days after the majority of taxes have been collected in the second half of the fiscal year, and the third deposit to occur a the end of the fiscal year." Would that work? CHR. HAITSUKA: We have to ask Ms. Crawford. MS. CRAWFORD: I don't see that that is going to interfere with us making transfers to the fund at the appropriate times. MS. OSBORNE: I guess the intent is to somehow get the language so that it is not all paid at the very end of the fiscal year. MS. CRAWFORD: I understand that's the concern here, and that's why I want to leave it to you folks. I honestly think that by trying so hard to make sure that we don't just make one transfer on the last day of the fiscal year, you are eliminating the opportunity for us to make earlier transfers when it is appropriate. That is certainly okay with me, but I am not sure that is really what you had hoped for. 16