5:34 p.m. Public Hearing Adopting the Local Option Sales Tax (LOST) Economic Development Trust Fund Ordinance
From:
Alison Rogers, County Attorney
Organization:
County Attorney's Office
CAO Approval:
RECOMMENDATION:
5:34 p.m. Public Hearing to consider adopting the Local Option Sales Tax (LOST) Economic Development Trust Fund Ordinance.
Recommendation: That the Board take the following action:
A. Ratify the scheduling of the 5:34 p.m. Public Hearing for consideration of adopting the Local Option Sales Tax (LOST) Economic Development Trust Fund Ordinance; and
B. Adopt the Local Option Sales Tax (LOST) Economic Development Trust Fund Ordinance that establishes a trust fund for the purpose of funding economic development projects having a general public purpose of improving local economies.
BACKGROUND:
At the October 15, 2015 Committee of the Whole, the Board discussed and approved scheduling a public hearing to consider adopting the Local Option Sales Tax (LOST) Economic Development Trust Fund Ordinance.
BUDGETARY IMPACT:
N/A
LEGAL CONSIDERATIONS/SIGN-OFF:
This ordinance was drafted by County Attorney Alison Rogers and advertised in the Pensacola News Journal on Sunday, October 25, 2015.