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OQ'ZH CAgp~~N e m o r a n u m $ F <br />? '4 <br />- North Carolina Association of County Commissioners <br />O • V •~_ <br />A C <br />~~y '' ` ~~`~ ;llailinJ Address: P. O. Box 1488, Raleigh, NC 27602-1-1S8 <br />Street Address: Albert Coates Local Government Center, 21 ~ N. Dawson Street, Raleigh, NC 27603 <br />O~ COUNT O <br />Telephone: 919-71~-2893 • Fax: 919-733-106 • Email. NCACC@NCACC.org <br />Home Page Address: http://ncinfo.iog.unc.eduMCACC <br />BOARD AGENDA #VV-29-98 <br />TO: OFFICERS AND BOARD OF DIRECTORS <br />FROM: C. RONALD AYCOCK, EXECUTIVE DIRECTOR <br />DATE: APRIL 16, 1998 <br />SUBJECT: REPORT OF THE TAXATION AND FINANCE STEERING COMMITTEE <br />The Taxation and Finance Steering Committee met on February 19. The committee took action <br />on two issues. The committee's recommendations are presented below. <br />1) Property Tax Defense Fund <br />The Board of Directors had referred this issue to the Taxation and Finance Steering Committee, <br />asking that the desirability of establishing a reserve to pay for legal defense costs associated with <br />lawsuits having a negative impact on the property tax base be examined. The committee <br />discussed the potential uses of such a fund, sources of revenue, and the decision-making powers <br />for Association involvement in defending property tax lawsuits. <br />Recommendation <br />The committee voted unanimously to recommend that: <br />a) the Board of Directors establish a permanent Property Tax Defense Fund in the <br />Association budget for F.Y. 1998-99; and <br />b) decisions regarding Association's participating in such lawsuits should be made by the <br />Board of Directors on the recommendations of the Taxation and Finance Steering <br />Committee. <br />