[Adopted 11-12-1982 by L.L. No. 5-1982 (Art. XV of Sub-Part C of Part I of the 1973 Code)]
The purpose of this article is to ratify and effect the repeal and recision of the sales and use tax within the City of Troy in accordance with a certain tri-party agreement by the City of Troy, City of Rensselaer and County of Rensselaer pursuant to § 1262(c) of the Tax Law.
It is recognized that to meet the requirements of § 1210(d) of said Tax Law, on October 28, 1982, the City Council unanimously passed a resolution rescinding and repealing the sales and use tax in its entirety, effective December 1, 1982, conditioned upon the full execution of the aforesaid agreement.