AN ACT TO EXTEND THE SUNSET ON THE SUSPENSION OF THE CHARTER OF THE TOWN OF SPENCER MOUNTAIN AND TO TEMPORARILY SUSPEND THE CHARTER OF THE TOWN OF EUREKA.
Senate amendment adds the following to the 1st edition.
Suspends the Eureka Town Charter, located in SL 1879-90, as amended. Provides that no annual audit is required during the suspension, upon completion of the 2018-19 fiscal year audit. Prohibits election of mayor or Town commissioners during the suspension; allows any person serving as an elected official for Eureka as of July 1, 2019, to continue to use their title and participate as elected officials in organizations dedicated to serving municipalities during the suspension. Requires monies and assets held by Eureka to be placed under the State Treasurer's control to be held and used for the Town; the Local Government Budget and Fiscal Control Act does not apply during the suspension. Requires monies due to and payable to Eureka to be collected by the State Treasurer to be held and used for the town. Requires the State Treasurer to determine how the monies and assets are to be held and allows requiring an annual report or accounting. Provides that if another unit of local government is due monies from Eureka in installments that would constitute 20% or more of the unit's monthly revenue for a fund to which the installments from Eureka are credited, then the unit of local government is deemed to be in default on a future debt service payment if the financial policies and practices of the unit of local government are not improved. These provisions are effective July 1, 2019, and expire June 30, 2024.
Makes conforming changes to the act's long title.
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