2022 12 20 City Council Agenda Packet

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RESOLUTION NO. 2022-34

A RESOLUTION AUTHORIZING THE DISTRIBUTION OF THE
ATHENS UTILITIES BOARD’S ELECTRICAL IN LIEU OF TAX PAYMENTS
FOR FISCAL YEAR 2022/2023.

WHEREAS, the Legislature for the State of Tennessee enacted Public Chapter No. 84 during its
1987 session, which Act provided for a uniform formula to pay tax equivalents on electrical systems to
the respective cities and counties served by the Athens Utilities Board in accordance with the respective

property tax rates set by said governing bodies; and

WHEREAS, in Section 5(d) of said Act, the legislative body of the municipality and/or
governing agency agrees that the electric system subject to said Act, is to pass a Resolution outlining the
amount to be paid to each respective jurisdiction served by the utilities, using the current tax rate by the

respective governing body.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Athens, Tennessee, as follows:
That the recitals above are true and accurate and form a part of this Resolution; and

That meeting in regular session this 20th day of December, 2022, that the Athens Utilities Board
is hereby authorized, directed and empowered to distribute its electrical in lieu of tax payments (tax
equivalent) to the City of Athens, Tennessee, for the City of Athens and McMinn County, the sum of
$851,386.71 in accordance with the following schedule for the fiscal year 22/23 as follows:

—S—————_——

McMinn . $191,562.01
Athens - $659,824.70

or a total amount of $851,386.71.
The City of Athens will make distributions to McMinn County as required by law.

BE IT FURTHER RESOLVED that the Athens Utilities Board will distribute to the following
municipalities and Monroe County, which it serves and owns property, in accordance with the following
schedules:

Englewood - S 6,930.04
Niota : $11,107.48
Monroe - S 1,350.38

or a total amount of $19,387.90.

BE IT FURTHER RESOLVED that the Athens Utilities Board will pay the sum to the City of
Athens in monthly installments beginning the 20" day of July 2022, and the same day of each month

thereafter for this fiscal year.

BE IT FURTHER RESOLVED by the Athens City Council that this resolution shall take effect
immediately from and after its passage, the public welfare requiring it.

ON MOTION BY , SECONDED BY , said Resolution was
approved by roll call vote.

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