H-2 IRB Policy
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TO:
Bill Harris, Acting City Manager
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'. .J. 1979
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FROM:
Don Harrison, City Clerk
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SUBJECT: Industrial Revenue Bonds
DATE:
Ma rch 15, 1979
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I was asked by one of the City Commissioners to check with some cities
in the state on their policy on industrial revenue bonds.
Lawrence has no application fee, but it does charge for pol ice and
fire protection based on the assessed valuation of the property multiplied by
the levy required to support the police and fire departments.
Our levy for this would be approximately 21 mills times the assessed
valuation of property.
McPherson has no application fee, but has an annual service fee of
$100.00.
Olathe has no application fee, but charges 50% of the regular taxes
and sometimes 100%.
Hutchinson, Ma~hattan, Junction City, and Topeka have no application
or service fees.