HomeMy Public PortalAbout140_041_LOST STATE OF GEORGIA )
COUNTY OF CHATHAM )
INTERGOVERNMENTAL AGREEMENT
THIS AGREEMENT made and entered into this day of
2013, by and between the MAYOR AND ALDERMEN OF THE CITY OF SAVANNAH,
GEORGIA (hereinafter "Savannah"), and the CITY OF TYBEE ISLAND, GEORGIA
(hereinafter"Tybee").
WITNESSETH:
WHEREAS, Savannah and Tybee are municipalities located in Chatham County,
Georgia, and each is a qualified municipality authorized to participate in distribution of Local
Option Sales Tax ("LOST") proceeds; and
WHEREAS, during the past year, the municipalities within Chatham County and
Chatham County engaged in the statutory process under O.C.G.A. §48-8-89 regarding the
distribution of LOST proceeds; and
WHEREAS, it was in the interest of Savannah and Tybee, and the other municipalities,
that they make a joint offer to Chatham County to resolve the distribution of LOST proceeds,
and
WHEREAS, in consideration of the agreement of both Savannah and Tybee to make a
joint proposal to Chatham County, and later to mutually agree upon a distribution of LOST
proceeds with the County, the parties agreed to a distribution of certain of the proceeds between
themselves;
NOW, THEREFORE, for and in consideration of the mutual covenants and agreements
and benefits to the parties, Savannah and Tybee agree as follows:
1. In the event that Tybee's annual receipts from LOST proceeds, as defined below,
are less than $1,190,000.00 in any given year, Savannah will make a payment to Tybee in the
amount by which Tybee's share of LOST proceeds is less than $1,190,000, provided that no such
annual payment shall exceed $117,000.
2. For purposes of this agreement "Tybee's annual receipts from LOST proceeds"
received during a year shall include (a) all tax revenues and other proceeds which are distributed
by the state or the county to Tybee pursuant to the LOST distribution certificate, and (b) tax
revenues and other proceeds received by Tybee which replace all or some sales tax proceeds
which were previously collected by the state and paid pursuant to the LOST formula, specifically
including, but not limited to all sales or transfer taxes levied on motor vehicles, transfers of
motor vehicles, vehicle title fees, and excise taxes on energy sold to manufacturers.
3. Payments shall be due on or before each December 31St of each year based on the
revenues received by Tybee during its fiscal year that ended the preceding June 30t. The first
such payment shall be due on or before December 31, 2014 based on revenues received by
Tybee during its fiscal year ended June 30, 2014.
4. This Agreement will remain in place during the duration of the distribution of the
LOST pursuant to the Distribution Certificate which was filed with the Department of Revenue
in 2013 unless sooner terminated by agreement of the parties hereto.
IN WITNESS WHEREOF said parties have hereunto set their hands and affixed their
seals the date and year first above written.
THE MAYOR AND ALDERMEN OF THE
CITY OF SAVANNAH, GEORGIA
By:
Attest:
CITY OF TYBEE ISLAND, GEORGIA
By:
Attest: