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12. B. 1.
Resolution to Authorize Delinquent Tax Anticipation Notes
Jim Dyer, Corporation Counsel, Corporation Counsel
Resolved that The Calhoun County Board of Commissioners does hereby approve the attached Resolution to Authorize Delinquent Tax Anticipation Notes as presented.
The Calhoun County Treasurer does recommend approval to issue Delinquent Tax Anticipation Notes (DTANs) to pay all the taxing jurisdictions their amount of delinquent real property taxes that were returned delinquent on March 1, 2020.
Public Act 334 of 1975 provides for the issuance of Delinquent Tax Anticipation Notes (DTANs) by County Board resolution in order to fund in whole or in part the Delinquent Tax Revolving Fund. Prior to the passage of PA 334 the County Treasurer would distribute monthly the collections of delinquent tax payments to the various townships, cities, school districts, community colleges, intermediate school districts, etc. which is a very inefficient and cumbersome accounting process. Every year since 1976, the County Treasurer has brought before the Board of Commissioners a resolution authorizing the sale of Delinquent Tax Anticipation Notes in order to purchase in bulk from the local units, the amount of delinquent real property taxes that are unpaid and returned as delinquent by the local treasurers and to distribute these funds in one “settlement payment” to each of the County’s taxing jurisdictions.
Should this resolution fail to pass, the County Treasurer would only be able to distribute as part of the “settlement process” the amount of funds on hand to the local taxing jurisdictions, and would be forced to distribute monthly delinquent tax collections. Not only would this be an inefficient method, but could cause the local jurisdictions to have short term cash flow issues.
The Calhoun County Treasurer asks the Board of Commissioners to approve the attached Resolution to Authorize Delinquent Tax Anticipation Notes.
2021 Borrowing Resolution (2020 Taxes)
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