HomeMy WebLinkAboutAgenda Statement 1982/08/24 Item 9COUNCIL AGENDA STATEMENT
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ITEM TIT
SUBMITTE
Sin
ann
is
REC
Item 9
Meeting Date 8/24/82
E~ Ordinance o~0(~ Q -Setting the Tax Rate for the Fiscal Year 1982-83
First Reading and Adoption
BY: Director of Finance (4/5ths Vote: Yes No X )
the approval of Proposition 13, the City Council is required to
lly set the appropriate tax rate for debt service. Therefore it
NDATION:
Tha the Council set the tax rate of .00634 per hundred dollars of full
val e to meet the 1982-83 debt requirements for the Policy Facility Bonds.
Las year the tax rate was .00740 per hundred dollars of full value.
BOARDS AND COMMISSIONS RECOMMENDATION: Not Applicable
DISICUSSION:
• Pro osition 13 does not affect voter approved debt service and, therefore,
the City Council is required to establish the appropriate tax rate on or
bef re September 1st of each year.
FINWNCIAL IMPACT:
by tie Cry `~::.;~- ;~'~?f
Chula Vise, Ca,i~~,~rnia
The11982-83 tax rate will generate $112,969 in property taxes. This is the
amo nt necessary for debt service.
Form A-113 (Rev. 11/79)