HomeMy WebLinkAbout2016 06_STWD Oversight for the Vision for Owasso Sales Tax Funds_2016.05.17CITY OF OWASSO, OKLAHOMA
RESOLUTION 2016 -06
A RESOLUTION OF THE CITY COUNCIL OF OWASSO, OKLAHOMA, DESIGNATING THE
CITIZENS' SALES TAX WATCHDOG COMMITTEE TO PROVIDE OVERSIGHT FOR THE
VISION FOR OWASSO SALES TAX FUNDS.
WHEREAS, Voters approved the Vision for Owasso .55% sales tax on April 5, 2016; and,
WHEREAS, the declared purpose of the Vision for Owasso sales tax is to provide revenues
to fund street improvements and related expenditures, to include debt service on obligations
issued to finance said improvements; and,
WHEREAS, the Vision for Owasso projects are to be street improvements on East 96th
Street North and street improvements on East 116th Street with any excess revenue collected to
be used for additional street improvements; and
WHEREAS, The Citizens' Sales Tax Watchdog Committee is charged with monitoring the
expenditure of the proceeds from the "third penny" sales tax approved by the citizens in 1988,
1997, and 2003. Additionally, the committee is responsible for "reporting" to the public (in any
manner deemed appropriate) the use of those funds and any other information the committee
believes the public should know; and
WHEREAS, the City Council desires to establish the same public reporting system for the
Vision for Owasso sales tax funds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OWASSO,
OKLAHOMA, THAT: the Citizens' Sales Tax Watchdog Committee shall provide oversight for the
Vision for Owasso sales tax funds.
APPROVED AND ADOPTED this 17th day of May 2016, by the City Council of the City of
Owasso, Oklahoma.
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ATTEST: OFP]CiAL L dell Dunn, Mayor
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Sherry Bish66, City Clerk ok(.AHaMP
APPROVED AS TO FORM:
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Juli ombardi, City Attorney
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TO:
FROM:
SUBJECT:
DATE:
The Honorable Mayor and City Council
City of Owasso
Sherry Bishop
Assistant City Manager
APpRoV�D By CouNC/L
Resolution 2016 -06 Oversight of Vision for Owasso Funds
May 13, 2016
BACKGROUND:
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Approval of the Vision for Owasso sales tax indicates a high level of voter confidence that the
City Council and staff will continue to expend restricted sales fax funds as promised. Citizen
oversight and public reporting have been a valuable assurance to voters that their tax dollars
are well used. To continue the standard of public transparency, an oversight mechanism for the
Vision for Owasso funds is recommended.
The Citizens' Sales Tax Watchdog Committee was originally created by Ordinance 395 and
approved by voters in 1988 to provide "oversight" of the restricted third -penny sales tax. The
Watchdog Committee is appointed by the City Council. In order to support the independence
of the committee, members serve for an indefinite term and may not serve in any other elected
or Council appointed position with the City.
The committee meets twice a year (March and September) to review the status of third -penny
capital improvement projects, to review reports on the expenditure of the third -penny sales fax
and to approve a Progress Report for public distribution.
The Resolution 2016 -06 would add oversight of the Vision for Owasso funds to the Watchdog
Committee responsibilities. After collection of the Vision sales tax begins next year, staff would
provide financial reports detailing the use of those funds similar to the current reporting for the
Capital Improvements sales tax.
RECOMMENDATION:
Staff recommends approval of Resolution 2016 -06, designating the Citizens' Sales Tax Watchdog
Committee to provide oversight for the Vision for Owasso sales tax funds.
ATTACHMENT:
Resolution 2016 -06