The Marshall County Commissioners and Marshall County Council members recently voted to reaffirm the Special Local Income Tax (LIT) Resolution during their respective meetings.
A Special Local Income Tax was established to provide funding for the construction of the Marshall County Correctional Facility. Proceeds from the LIT in excess of the repayment of the bonds issued for the construction have been applied for payment of ongoing operations of the facility.
After the payment of bonds is satisfied, it has been specifically requested that the proceeds from LIT be applied to the continuing expenses and operations of the Correctional Facility. The rate of the extension will be fixed by an ordinance passed by the Marshall County Council. The rate would remain in effect until an ordinance establishing the rate is rescinded or modified.
According to the resolution, the Indiana General Assembly will receive the resolution to assist in legislation to apply the proceeds of the LIT to continue to fund Marshall County Correctional Facility operations and expenses. The rate to be fixed by an ordinance by the county council will not exceed .25%.
Both the commissioners and council members voted unanimously during their respective meetings to reaffirm this resolution.
