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Action   14.
Regular Board of Supervisors Meeting
County Treasurer
Meeting Date:
06/27/2017
Loan to Douglas Unified School District
Submitted By:
Arlethe Rios, Board of Supervisors
Department:
Board of Supervisors
Presentation:
No A/V Presentation
Recommendation:
Approve
Document Signatures:
BOS Signature NOT Required
# of ORIGINALS
Submitted for Signature:
0
NAME
of PRESENTER:
Cathy Traywick
TITLE
of PRESENTER:
County Treasurer
Mandated Function?:
Federal or State Mandate
Source of Mandate
or Basis for Support?:
Docket Number (If applicable):

Information

Agenda Item Text:

Approve a loan of $33,278.93 to the Douglas Unified Schools #27 and authorize the Finance Director to make a payment on behalf of the Douglas Unified Schools #27 for Court Tax Judgment Case No. TX2015-000899 - Cochise Pacific Associates AZ, LP vs Cochise County, Superior Court of the State of Arizona in and for the County of Maricopa in the amount $33,278.93.

Background:

Judgment states that the full cash value be changed from $4,949,249 to $975,000 for tax year 2016, total collected $61,952.58. Pursuant to A.R.S. 42-161215, the Cochise County Treasurer has corrected the  tax roll for tax year 2016. Calculation for 2016 taxes collected from Douglas Unified Schools District #27 calculated to June 29, 2017, in the amount of $33,278.93.

 

Douglas Unified School District #27 to reimburse Cochise County in school tax levy 2018.

Department's Next Steps (if approved):

Upon approval by the Board, Finance will pay Tax Judgment in the amount of $33,278.93 and the Cochise County Treasurer shall collect school tax levy 2018 from Douglas Unified School District #27.

Impact of NOT Approving/Alternatives:

If not approved, interest of the payment to Pacific Associates will continue to increase at a rate of 10% year.

To BOS Staff: Document Disposition/Follow-Up:

Advise County Finance Office - upon Board's approval.

Fiscal Impact

Attachments