City of North Chicago Finance and Audit Committee met Jan. 21.
Here is the minutes provided by the committee:
Alderman Runnels called the meeting to order.
ROLL CALL:
Present: Fisher, Mayfield, Evans, Allen, Markham, Runnels, January
Absent: None
I. DISCUSSION OF MUNICIPAL CANNABIS RETAILERS OCCUPATION TAX:
Attorney Silverman explained the various percentages of the sales tax. There was 3% sales tax from the gross sales; 50% allocation to the Police/Fire Pension Funds and 50% to the General Fund. The Police were in training for marijuana (black market training.)
Alderman Markham suggested 25% vs 50% to the General Fund and 25% to Capital Fund.
Alderman Allen agreed with percentage to the pension and echoed sentiments of Alderman Markham concerning the General and Capital Funds.
Alderman Mayfield would have to reconsider where the remaining would be allocated.
Alderman Allen suggested continued discussion.
This will be placed on the next Committee Agenda, Monday, February 03, 2020.
Alderman Allen moved, seconded by Alderman Mayfield that Finance Committee Meeting stand adjourned.
MOTION CARRIED BY VOICE VOTE
The meeting adjourned at 7:02 p.m.
https://www.northchicago.org/vertical/Sites/%7B52959CF2-969E-41D9-A9CF-CF0A11D0BEA9%7D/uploads/COM.1.21.20.pdf
Alerts Sign-up