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A resolution directing the Metropolitan Department of Water and Sewerage Services to make additional payments in lieu of ad valorem taxes.
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WHEREAS, Tennessee Code Annotated ? 7-34-115(a)(1)(I) provides that revenues derived from a public works may be paid to the municipality, if the municipality so requests, in lieu of ad valorem tax on the property of the public works within the corporate limits of the municipality not to exceed the amount of taxes payable on privately owned property of a similar nature; and,
WHEREAS, the Metropolitan Council previously adopted Substitute Resolution No. R96-177 on February 29, 1996, directing the Metropolitan Department of Water and Sewerage Services (the "Department") to make an annual four million dollars ($4,000,000) payment in lieu of tax, such payment being currently allocated to the Sports Authority of the Metropolitan Government of Nashville and Davidson County pursuant to an Intergovernmental Project Agreement approved pursuant to BL2023-1741; and,
WHEREAS, the Metropolitan Council also previously adopted Resolution No. RS2020-154 on January 7, 2020, directing the Department to make an additional ten million dollars ($10,000,000) annual payments in lieu of tax to the Metropolitan Government; and,
WHEREAS, the Metropolitan Council has determined that the cumulative amount of such in lieu of tax payments should be further increased to help reimburse the Metropolitan Government for the services, improvements, facilities, and other operational support provided by the Metropolitan Government to the Department.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Department shall make an additional payment in lieu of ad valorem taxes on property of the department within the geographical jurisdiction of the Metropolitan Government to the general fund of the Metropolitan Government in the amount of four million seven hundred sixty thou...
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