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City of <br />Pequott <br />Lakes =— <br />AGENDA ITEM #5.2 <br />REPORT TO <br />CITY COUNCIL <br />Date: February 8, 2012 <br />Subiect: Consider Amendment to Memorandum of <br />Understanding between the City and the School <br />District <br />Report: Attached are the original signed Memorandum of <br />Understanding and an Amended Memorandum of <br />Understanding between the School and the City. Please <br />refer to Item #2 in the Amended Memorandum which <br />explains the reason for the amendment. <br />The result of the amendment reduces the City's payment <br />from the School District from $100,000 to $93,940.54. This <br />amendment designates that the is City responsible for the <br />City's portion of 2012 property taxes on the property in the <br />Industrial Park which the School is purchasing for a bus <br />School Board Chair Valerie Wallin has been invited to the <br />Council meeting to answer any questions the Council may <br />have regarding this issue. <br />