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LYNWOOD PUBLIC FINANCE AUTHORITY
SPECIAL MEETING
JULY 14, 2003
The Public Finance Authority of the City of Lynwood met in a Special Meeting at 11330
Bulbs Road on the above date at 10:19 a.m.
President Pedroza presiding.
Members Byrd, Reyes, Richazds, Rodriguez, and Pedroza answered the roll call.
Also present were Chief Administrative Officer Hempe, City Attorney Casso, Secretary
Hooper, and Treasurer Pygatt
Secretary Hooper announced that the agenda had been posted in accordance with the
Brown Act.
PUBLIC ORAL COMMUNICATIONS
(Regarding agenda items only)
NONE
PUBLIC ORAL COMMUNICATIONS
NONE
Item #4: SB 103 -SALES AND USE TAXES
Current laws within the State of California impose taxes on the sale or use of tangible
personal property in the State. The sales tax is imposed on retailers for the privilege of
selling tangible personal property at retail stores in this state and is measured by the gross
receipts of retailers derived from those sales. The use tax is imposed for the privilege of
utilizing tangible personal property.
The California Internet Tax Freedom Act prohibits taxation of sales through Internet
Access or On Line Computer Services. Thus, stores such as Amazon and many others
that are Internet only retailers are exempt from chazging/paying sales taxes. However,
this excludes retailers who are actively engaged in business in Califomia.
It was moved by Member Richards, seconded by Member Byrd and carried to receive
and file this item.
ADJOURNMENT
Having no further discussion, it was moved by Vice President Rodriguez, seconded by
President Pedroza and carried to adjourn the Special Council Meeting at 10:20 a.m.
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ernando Pedroza, President
Andrea L. Hooper, Secretary