HomeMy WebLinkAboutAgenda Statement 1985/08/20 Item 16 COUNCIL AGENDA STATEMENT
Item 16
Meeting Date 8/20/85
ITEM TITLE: Ordinance a?) .5 Setting Tax Rate for the Fiscal Year
1985-86 First Reading and Adoption
SUBMITTED BY: Director of Finance '',
REVIEWED BY: City Manager (4/5ths Vote: Yes No x )
Since the passage of Proposition 13, the City Council is required annually to
set the necessary tax rate for voter approved debt service.
RECOMMENDATION: Adopt ordinance.
BOARDS/COMMISSIONS RECOMMENDATION: Not applicable.
DISCUSSION:
Proposition 13 does not affect voter approved debt service and consequently
the City Council is required to set the necessary tax rate on or before
September 1st each year. The 1984-85 tax rate was $.00526 per hundred dollars
of full value. City's e
total secured value for 1985-86 hundred
The .
of full value. y
FISCAL IMPACT: The 1985-86 tax rate will generate $99,934 in property
taxes. This is the amount necessary for debt service on the Police Facility
Bonds.
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