Published May 13, 2008 05:22 pm -
District Attorney says Treasurer must cash CD
By JOY HAMPTON
In a letter to Rogers County Treasurer Cathy Baker dated May 9, District Attorney Gene Haynes issued an opinion on action taken by the Board of County Commissioners directing her to cash the Latshaw Drilling certificate of deposit and transfer that money into the one-cent tax fund for District 3.
District 3 County Commissioner Kirt Thacker asked for $666,666 from the Latshaw CD in order to pay a debt incurred when money was not encumbered to cover a $1 million asphalt invoice. Thacker has made payment on that outstanding bill but exceeded his budget by around $600,000. The D3 commissioner does not have enough money to cover the outstanding debt in his one-cent sales tax or unrestricted highway funds. Either fund could be used to cover the bill.
The budget overage is owed primarily to APAC Oklahoma for laid asphalt.
May 5, Commissioner Mike Helm seconded Thacker’s motion to move “all three Commissioners’ share of the money” following a discussion of using the Latshaw CD held by the Treasurer’s office.
Commissioner Dan DeLozier voted “nay.” The motion passed 2-1.
Baker asked for clarification from Haynes due to the lack of specific wording in the motion.
Angela Owens of the Treasurer’s office said Haynes issued a letter in response to Baker’s inquiry and, based on the legal opinion in that letter, the Treasurer’s office has released funds in the CD.
Haynes’ letter states that he reviewed the minutes of the May 5 meeting.
“The motion itself is very ambiguous as to what money and where to move it,” the letter states. Haynes says that “read in conjunction with the language of the agenda item, the possible intent may be determined.”
The agenda item reads: “Discussion with possible action on District 3 Commissioner Kirt Thacker requesting County Treasurer’s Office to move the money that has been invested for payment of sales tax by Latshaw Drilling into the one-cent account for District 3 to pay expenses owed to Apac for laid asphalt.”
Haynes says in the letter that only two-thirds of the CD was collected as part of the one-cent sales tax for roads and bridges.
“Since the County Commissioners only are entitled to that portion...” the Board action only affects that share of the CD. Though the “motion does not say where the money is to be moved...” Haynes ascertains that the agenda item indicates it “shall be moved into the one-cent account.”
Haynes offers the following opinion on action taken by the Board at the May 5 meeting:
“1. Affects the funds you (Baker) received from the Oklahoma Tax Commission which were collected from Latshaw Drilling in payment of the one-cent county sales tax for roads and bridges;