RESOLUTION

#45-25

PL #45-25

By Alderman, Seconded by

Alderman

TO AMEND THE CITY OF OLEAN CODE OF ORDINANCES SECTION 2-176 TO ENACT STIPULATIONS FOR SALES TAX PROJECTIONS IN ANNUAL BUDGETS TO NOT EXCEED 98% OF THE SALES TAX ACTUALLY RECEIVED DURING THE PREVIOUS CALENDAR YEAR

RESOLVED, that the City of Olean Code of Ordinances Section

2-176 is hereby amended as

follows:

Section 2-176. Sales Tax

Projections

The annual City of Olean budget shall not include sales tax revenues which exceed 98% of the actual sales tax revenue received during the previous calendar year (January 1st – December 31st).

RESOLVED, that this Resolution is hereby effective June 1, 2025 to take effect for the budget June 1, 2026 – May 31, 2027.