HomeMy WebLinkAboutITEM V-D
AGENDA BILL APPROVAL FORM
Agenda Subject:Date:
Outstanding Gambling Tax Debt July 26, 2005
Department: Attachments: Budget Impact:
Finance
Administrative Recommendation:
City Council to approve acceptance of proposed $15,000 payment to end outstanding gambling tax debt.
Background Summary:
The previous owners of Jack’s Tavern have proposed to pay $15,000 immediately to end their
outstanding gambling tax debt early. The unmatured balance of the account is currently $18,260.72. The
original debt amount of E & B Enterprises was $27,466.22 with the promissory note beginning on 8/15/03
for a term of 64 months. By accepting the proposed payment to retire the debt, the City would benefit by
no longer having this account to track and collect.
N0801-3
F4.12
Reviewed by Council & Committees: Reviewed by Departments & Divisions:
Arts Commission COUNCIL COMMITTEES: Building M&O
Airport Finance Cemetery Mayor
Hearing Examiner Municipal Serv. Finance Parks
Human Services Planning & CD Fire Planning
Park Board Public Works Legal Police
Planning Comm. Other Public Works Human Resources
Information Services
Action:
Committee Approval: Yes No
Council Approval: Yes No Call for Public Hearing ___/___/____
Referred to _________________________________ Until ____/___/____
Tabled ______________________________________ Until ___/___/____
Councilmember: Staff:
Backus Coleman
Meeting Date: Item Number:
August 1, 2005 V.D