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2 i <br /> the collector's settlement has no effect on the taxpayer's liability for the tax. The board's <br /> determination of insolvency is not a release. The tax claim is not discharged or written off. The <br /> reason for making the determination is solely to facilitate making annual settlement with the tax <br /> collector. It relieves the tax collector for personal liability. Insolvent accounts are recharged to <br /> the collector as delinquent accounts, and the collector has full authority to use levy and <br /> garnishment to effect their collection. Included in the printed materials with this abstract is the <br /> first page of each of the reports. Also provided are two diskettes containing a complete <br /> accounting of each list. <br /> There are two settlement reports. The first settlement report shows all taxes charged for <br /> collection for 2000-2001 fiscal year. The tax collector is credited with all sums representing <br /> taxes collected and deposited, the principle amount of unpaid taxes on real property, and the <br /> principal amount of unpaid taxes on personal property determined to be insolvent. All <br /> uncollected taxes allowed as credits in a settlement are recharged to the tax collector. The <br /> second settlement report shows all prior years' taxes collected with the 2000-2001 fiscal year. <br /> FINANCIAL IMPACT: There is no financial impact associated with accepting the tax collector's <br /> annual settlement. <br /> RECOMMENDATION(S): The Manager recommends that the tax collector's settlement be <br /> accepted as reported and entered upon the minutes. <br />