HomeMy WebLinkAboutAgenda Statement 1986/08/26 Item 8 COUNCIL AGENDA STATEMENT
Item 8
Meeting Date 8/26/86
ITEM TITLE: Ordinance AR, 4 Setting Tax Rate for the Fiscal Year
1986-87 First Reading and Adoption
SUBMITTED BY: Director of Finance /A
REVIEWED BY: City Manager (4/5ths Vote: Yes No x )
Since the passage of Proposition 13, the approved debt uncil i s required annually to
set the necessary tax rate
RECOMMENDATION: Adopt ordinance.
BOARDS/COMMISSIONS RECOMMENDATION: Not applicable.
DISCUSSION:
Proposition 13 does not affect voter approved debt service and consequently on or before
the City Council is required
lg85_86 ttaxh ratecwasa$y00455 perehundred dollars
September 1st each year.
of full value. For 1986-87,total secured necessary
valrue for 1986-87 i per$2h 876,04721 gars
of full value. The City's
FISCAL IMPACT: The 1986-87 tax rate will generate $95,777 in property
taxes. This is the amount necessary for debt service on the Police Facility
Bonds.
WPC 0305G
/y/ '
fe City Council of
Chula Vista, California
Dat.d e-
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