Knowledgebase-Model Resolution Directing Payment of Tax Equivalents


Information Product

Title:Model Resolution Directing Payment of Tax Equivalents
Summary:MTAS was asked to create a resolution for payment in lieu of taxes.
Original Author:MTAS
Co-Author:
Product Create Date:04/02/2004
Last Reviewed on::10/26/2016
Subject:Taxes--Payment in lieu of taxes; Electric systems; Taxes--Municipal resolutions
Type:Resolution
Original Document: Model Resolution Directing Payment of Tax Equivalents.pdf

Reference Documents:

Text of Document: Model Resolution Directing Payment of Tax Equivalents.doc
Model Resolution Directing Payment of Tax Equivalents


Whereas, section 7-52-304 of the Tennessee Code Annotated empowers a municipality’s governing body, after consultation with the supervisory body of an electric system, to determine the amounts of tax equivalents to be paid to taxing jurisdictions in the service of the electric system; and

Whereas, the ______________________________________ of the city of _______________________________ has held such consultation with the supervisory body of the electric system of the city of _____________________________; and

Whereas, the necessary data have been supplied by the electric system of the city of ________________________________ and calculations of tax equivalents payable have been made in accordance with the provisions of TCA 7-52-303;

NOW, THEREFORE, BE IT RESOLVED BY THE _______________________
OF THE CITY OF_________________________________ :

Section 1. The electric system of the city of __________________________ is hereby directed to pay the following amounts of tax equivalents to the respective taxing jurisdictions for the fiscal year beginning July 1, ________ :

Taxing jurisdiction Amount

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