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Thorough review and we agree with their recommendation as well. Thank you. I had one question. There was a section that budget Analyst Report highlighted which basically said that the requirement or part of the agreement also indemnifies the puc for costs that may result due to bawscas erroneous determination of the surge charge that the taxexempt bonds are taxable unless deemed taxable due to the pucs violation of the certificate. Im just trying to understand what that means. What that means is just like when we sell bonds were required to use the bond proceeds for eligible uses. So the tax certificate that is before you today says that the sfpuc will provide the best efforts to depend taxexempt proceeds on capital eligible spending which is why the spending plan on one of the slides specifically lays out how were using taxexempt bond proceeds. So we follow our best efforts and review those and the city spends the money consisten ....
Why dont we open up the item for Public Comment . Anyone wishes to speak to item 5s and 6 . Seeing none, Public Comment is closed. Okay and so we have got a motion to separate budget analysts recommendation and the language as read into the record for item 6. We have that motion and do that without objection. On the two underlying items as amended, do we have a motion . Approve with recommendations. We have got a motion to send both of those items forward as amended to the full board with recommendation and well do that without objection. Thank you very much. Item no. 7, ordinance amending ordinance no. 16512 annual salary ordinance to reflect the addition of five positions in the office of treasurer and Tax Collector for the implementation of proposition e and the gross receipts tax. Would you call item no. 8 as w. Item ....
Thank you very much for taking up these items. And i did want to, before i get into this presentation, thank the mayor and particularly the mayors Budget Office and controller and his economic team, as well as the City Attorneys office. President chiu, supervisor farrell and supervisor avalos. I would like to give a brief overviewhoun it changes things fort taxpayer and how the office of treasurer Tax Collector interacted with the public. The ordinance was passed on november 6th. And it does not apply to the 2013 or prior tax years. And just for your information, tax year is january 1 through december 31. And that affects our payroll expense tax, as well as the new grot gross receipts tax. We will be collecting register fees that affect the 1314 fiscal year. So if gets collected in advance. Payroll expense taxes are over a ....
Appropriating 1,566,145 from the general Fund Reserves so to the San Francisco department of treasurer Tax Collector for gross receipts tax implementation planing for fy20122013. These two item goes hand in hand. So we have, i believe greg cotto from the treasurer Tax Collector to present on these two items. Good afternoon, supervisors. Thank you very much for taking up these items. And i did want to, before i get into this presentation, thank the mayor and particularly the mayors Budget Office and controller and his economic team, as well as the City Attorneys office. President chiu, supervisor farrell and supervisor avalos. I would like to give a brief overvie ....
Approve the proposed resolution as amended. Just to clarify, the budget amount recommends amending file 5 with regards to the fund and in addition, it looks Like Department also submited some language to change for item 6. Currently it reads that the clerk of board is directed to file a copy of said form of prepayment agreet with minutes of this motmeting. Amended language should read, the general manager shall submit a copy of the prepayment agreement for the clerk of the board for inclusion in file 121203 i. E. , and that is a request from the department to make amendment. There are two amendments one to item 5 and one to item 6. Why dont we open up the item for Public Comment . Anyone wishes to speak to item 5s and 6 . Seeing none, Public Comment is closed. Okay and so we have got a motion to separate budget analysts ....