HomeMy WebLinkAboutDocumentation_Regular_Tab 7C_8/8/1996 MC.
Memorandum
To: Village Council
From: Thomas G. Bradford, Village Manager
Date: July 29, 1996
Subject: Ordinance Imposing Premium Tax for Police Officer
Benefit
Now that the Village Council has created the Employees ' Pension
Trust Fund, which includes retirement plan provisions for police
officers, it is necessary to adopt the premium tax so that the
Police Officer ' s Retirement Plan can receive their fair share of
proceeds relative to the same. This tax is already imposed at
. 85% on insurer' s receipts of premiums from policy holders on all
premiums collected on property insurance policies covering
property within the Village of Tequesta and all other areas of
the State of Florida. Currently, the receipts collected in
Tequesta go to benefit other police officers in other areas . By
adopting this Ordinance, the Village imposes the same and
authorizes the State of Florida to "divert" this money back to
Tequesta on an annual basis for the benefit of its Police
Officer ' s Retirement Plan. Therefore, this is not a new tax, but
a process required by the State of Florida in order for Tequesta
to receive its fair share of these important retirement funds .
It is recommended that the Village Council adopt the attached
Ordinance imposing the . 85% excise tax to benefit the Police
Officers in the Employees ' Pension Trust Fund.
TGB/krb
Attachment
=ounc1l/072996-1.sam
DRAFT
ORDINANCE NO.
AN ORDINANCE OF THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY,
FLORIDA, ASSESSING AND IMPOSING A . 85 PERCENT
EXCISE TAX ON INSURERS ' RECEIPTS OF PREMIUMS
FROM POLICY HOLDERS ON ALL PREMIUMS COLLECTED
ON PROPERTY INSURANCE POLICIES COVERING
PROPERTY WITHIN THE CORPORATE LIMITS OF THE
VILLAGE OF TEQUESTA, FLORIDA; PROVIDING FOR
THE APPROPRIATION OF SAID TAXES TO THE
RETIREMENT PLAN AND TRUST ACCOUNT ESTABLISHED
FOR THE POLICE OFFICERS OF THE VILLAGE OF
TEQUESTA, FLORIDA; PROVIDING SAID TAX SHALL BE
IN ADDITION TO ALL OTHER LICENSE TAXES NOT
LEVIED OR HEREAFTER LEVIED BY THE VILLAGE OF
TEQUESTA, FLORIDA; PROVIDING FOR THE PAYMENT
AND COLLECTION OF SAID TAX; PROVIDING FOR
SEVERABILITY; PROVIDING FOR CODIFICATION;
PROVIDING FOR THE REPEAL OF CONFLICTING
ORDINANCES; PROVIDING AN EFFECTIVE DATE.
WHEREAS, by Ordinance adopted this day of 1996, the
Village of Tequesta, Florida established a Retirement Plan and
Trust for the employees of the Village of Tequesta, including
police officers; and
WHEREAS, said Plan and Trust was duly enacted pursuant to
Section 185 . 35, Florida Statutes, and in compliance with
Chapter 185, Florida Statutes; and
WHEREAS, Section 185 . 08 , Florida Statutes, authorizes the
Village of Tequesta, Florida, to levy a . 85 percent excise tax
on Insurers ' Receipts of Premiums from policy holders on all
premiums collected on property insurance policies covering
property within the corporate limits of the Village of
Tequesta, Florida, to fund said Retirement Plan and Trust; and
WHEREAS, it is the intent of the Village Council of the
Village of Tequesta, Florida, to levy said excise tax.
NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1 . There is hereby assessed and imposed on every
insurance company, corporation, or other insurer now engaged
in or carrying on or who shall hereafter engage in or carry
on, the business of property insurance as shown by the records
of the State Department of Insurance, an excise or license tax
amounting to . 85 percent of the gross amount of receipts of
premiums from policy holders on all premiums collected on
property insurance policies covering property within the
corporate limits of the Village. In case of multiple peril
policies with a single premium for both the property and
casualty coverages in such policies, thirty ( 30 ) percent of
such premium shall be used as the basis for the . 85 percent
tax above.
Section 2 . All money from taxes imposed by this Ordinance is
hereby appropriated to the Police Officers Retirement Plan and
Trust Account of the Village which shall be administered in
accordance with the applicable provisions of Chapter 185,
Florida Statutes .
Section 3 . The tax herein assessed and imposed shall be in
addition to all other license taxes now levied or hereafter
levied by the Village.
Section 4. The excise or license tax herein provided for
shall be payable and collected in the manner provided for by
Chapter 185, Florida Statutes .
Section 5. This Ordinance shall remain in full force until
supplemented, amended, repealed or otherwise altered.
Section 6. If any provision of this Ordinance or the
application thereof is held invalid, such invalidity shall not
affect the other provisions or applications of this Ordinance
which can be given effect without the invalid provisions or
applications, and to this end, the provisions of this
Ordinance are hereby declared severable.
Section 7 . This Ordinance shall be codified and made a part
of the official Code of Ordinances of the Village of Tequesta .
Section 8. This Ordinance hereby repeals all Ordinances in
conflict herewith.
Section 9. This Ordinance shall take effect upon its passage
and approval .
THE FOREGOING ORDINANCE WAS OFFERED BY Councilmember
, who moved its adoption. The motion was seconded by
Councilmember , and upon being put to a vote, the
vote was as follows :
FOR ADOPTION AGAINST ADOPTION
The Mayor thereupon declared the Ordinance duly passed and
adopted this day of , A.D. , 1996 .
Mayor of Tequesta
Ron T. Mackail
ATTEST:
Joann Manganiello
Village Clerk
JONES, FOSTER, JOHNSTON & STUBBS, P. A.
ATTORNEYS AND COUNSELORS
FLAGLER CENTER TOWER
505 SOUTH FLAGLER DRIVE Village of Tequesta
ELEVENTH FLOOR
LARRY B ALEXANDER MICHAEL T.KRAN2 WEST PALM BEACH,FLORIDA 33401 HENRY I LILIENTHAL
CARL ANGELOFF JOHN BLAIR McCRACKEN II2-ty.'j
M.TRACEY BIAGIOTTI SCOTT L.MCMULLEN
CLAY C BROOKER DAVID PRATT HARRY AL ON JOHNSTON
P.O. BOX 3475 J U L 0 2 1996 t St9g3
JOYCE A CONWAY JOHN C RANDOLPH
MARGARET I. COOPER STEVEN J ROTHMAN WEST PALM BEACH,FLORIDA 33402-3475 R.BJCE JONES
EDWARD DIAZ PETER A.SACHS .-,see
REBECCA G.DOANE 0 CULVER SMITHY (407)859-3000
CHRISTOPHER S DUKE SIDNEY A.STUBBS FAX:(407)832-1454 Village Manager's OfficeI1.C0 WOLFE799+
H.MICHAEL EASLEY ALLEN R.TOMLINSON
SCOTT G.HAWKINS JOHN S TRIMPER TIRED
THORNTON M.HENRY BRIAN K.WAXMAN
PETERS HOLTON H.ADAMS WEAVER WILLIAM A FOSTER
MARK B.KLEINFELD
WRITER'S DIRECT LINE: OF COUNSEL
L.MARTIN FLANAGAN
JACK A.PLISCO
July 1, 1996
Mr. Thomas G. Bradford
Village Manager
Village of Tequesta
Post Office Box 3273
Tequesta, Florida 33469-0273
RE : Village of Tequesta
Ordinance Imposing Premium Tax for Police Officer Benefits
Our File No. 13153 . 1
Dear Tom:
I have reviewed the above referenced ordinance referenced in your
letter of June 21, 1996, and approve same as to legal form and
sufficiency.
Sincerely,
JONES, 0 ER, JOHNSTON & STUBBS, P.A.
ohn C. Randolph
JCR\ssm