HomeMy WebLinkAboutAgenda Statement 1981/08/25 Item 10' .. COUNCIL AGENDA STATEMENT
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ITEM TITLE:
Item 10
Meeting Date 8/25/81
Ordinance ~9.,so - Setting the Tax Rate for the Fiscal Year 1981-82
First Reading and Adoption
SUBMITTED BY: Director of Finance (4/5ths Vote: Yes No X )
Since the approval of Proposition 13, the City Council is required to
annually set the appropriate tax rate for debt service. Therefore it
is my
RECOMMENDATION:
,, That the Council set the tax rate of .00740 per hundred dollars of full
value to meet the 1981-82 debt requirements for the Police Facility Bonds.
BOARDS AND COMMISSIONS RECOMMENDATION: Not Applicable
Proposition 13 does not affect voter approved debt service and, therefore,
the City Council is required to establish the appropriate tax rate on or
• before September 1st of each year.
FINANCIAL IMPACT: Not Applicable
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Form A-113 (Rev. 11/79)