Res 49-10RESOLUTION NO. 49-10
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF DELRAY BEACH, TO TENTATIVELY LEVY A TAB ON
ALL PROPERTIES WITHIN THE CITY OF DELRAY BEACH,
FLORIDA, FOR MAINTENANCE AND OPERATION, AND
TO TENTATIVELY LEVY A TA1 FOR THE PAYMENT OF
PRINCIPAL AND INTEREST ON BONDED
INDEBTEDNESS, AND TO ALLOCATE AND APPROPRIATE
SAID COLLECTIONS THEREUNDER.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That a tax of $7.4100 per one thousand dollars ($1,000.00) of assessed
valuation is hereby tentatively levied on all taxable property within the City of Delray Beach for the
fiscal year commencing October 1, 2010, and ending September 30, 2011. There shall be and hereby
is appropriated for the General Fund operations of the City revenue derived from said tax for
operating and maintenance expenses of the General Fund, and also in addition, all revenues derived
by said City during said fiscal year from all other sources other than the tax levy for current bond
service and that part of collection of delinquent taxes levied for bond service. The assessed
valuation on all taxable property for operating purposes within the City of Delray Beach is
$6,271,869,771. The tentative operating millage rate of $7.4100 per one thousand dollars ($1,OOO.OOj
is less than the rolled-back rate of $8.1366 per one thousand dollars ($1,000.00) by 8.93%.
Section 2. That the amount of money necessary to be raised for interest charges
and bond redemption which constitutes a general obligation bonded indebtedness of the City of
Delray Beach is $3,576,820. There is hereby appropriated for the payment thereof, all revenues
derived from the tentative tax levy of $0.6002 per one thousand dollars ($1,000.00) of assessed
valuation, which is hereby levied for that purpose for the fiscal year commencing October 1, 2010,
and ending September 30, 2011, upon the taxable property of the City of Delray Beach, the assessed
valuation being $6,273,034,004.
Section 3. That the above tentative millage rates are adopted subject to adjustment
in accordance with Section 200.065(5) of the Florida Statutes which provides that a municipality may
adjust its adopted millage rate if the taxable value withuz the jurisdiction of the taxing authority as
certified pursuant to Section 200.065(1) is at variance by more than ~ me ~~crccni (1 " ~~) with the
taxable value shown on the assessment roll to be extended.
Section 4. That a public hearing was held on the proposed budget on September
13, 2010.
PASSED AND ADOPTED in regular session on this the 13th day of September,
2010.
~~
MAYO
ATTEST:
City Clerk
2 RES. NO. 49-10
Coversheet
MEMORANDUM
TO: Mayor and City Commissioners
FROM: David T. Harden, City Manager
DATE: September 10, 2010
SUBJECT: AGENDA ITEM SP 1 -SPECIAL MEETING OF SEPTEMBER 13. 2010
RESOLUTION NO. 49-10 (TENTATIVE MILEAGE LEVY)
Page 1 of 1
ITEM BEFORE COMMISSION
This item before Commission is Resolution No. 49-10 which tentatively levies a tax on all properties in
the City of Delray Beach for FY 2011. The tentative operating millage rate for FY 2011 is 7.4100 which
can still be reduced at the second budget hearing on September 21, 2010, when the final millage rate
will be adopted.
BACKGROUND
The tentative FY 2011 operating millage is 7.41, while the proposed FY 2011 debt service millage is
0.6002. The proposed operating millage is less than the rolled-back millage rate (8.1366) by 8.93%. The
final operating millage and debt service millage rates will be determined by the City Commission prior
to final adoption on September 21, 2010.
The assessed valuation on all taxable property within the City for operating purposes is
$6,271,869,771. The assessed valuation for debt services is $6,273,034,004. The reason for the
differential is the exemptions that were granted to historic properties in the City. They apply to
operating millage only.
Pursuant to the City Charter and TRIM requirements, a public hearing must be held prior to the
adoption of the resolution.
The final FY 2011 millage rates and budget are scheduled for adoption on September 21, 2010.
RECOMMENDATION
Recommend approval of Resolution No. 49-10 -Tentative Millage Levy for FY 2011.
http://itwebapp/AgendaIntranet/Bluesheet.aspx?ItemID=3766&MeetingID=305 2/1/2011
RESOLUTION NO. 49-10
A RESOLUTION OF THE QTY COMNIISSION OF THE QTY
OF DELRAY BEACH, TO TENTATIVELY LEVY A TAX ON
ALL PROPERTIES WITHIN THE QTY OF DELRAY BEACI~
FLORIDA, FOR MAINTENANCE AND OPERATION, AND
TO TENTATIVELY LEVY A TAX FOR THE PAYMENT OF
PRINQPAL AND INTEREST ON BONDED
INDEBTEDNESS, AND TO ALLOCATE AND APPROPRIATE
SAID COLLECTIONS THEREUNDER.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That a tax of $7.4100 per one thousand dollars ($1,000.00) of assessed
valuation is hereby tentatively levied on all taxable property within the City of Delray Beach for the
fiscal year comrr~lcing October 1, 2010, and ending September 30, 2011. There shall be and hereby
is appropriated for the General Fund operations of the City revenue derived from said tax for
operating and maintenance expenses of the General Fund, and also in addition, all revenues derived
by said City during said fiscal year from all other sources other than the tax levy for cun~ent bond
service and that part of collection of delinquent taxes levied for bond service. The assessed
valuation on all taxable properly for operating purposes within the City of Delray Beach is
$6,271,869,771. The tentative operating millage rate of $7.4100 per one thousand dollars ($1,000.00)
is less than the rolled back rate of $8.1366 per one thousand dollars ($1,000.00) by 8.93%.
Section 2. That the amount of money necessary to be raised for interest charges
and bond redemption which constitutes a general obligation bonded indebtedness of the City of
Delray Beach is $3,576,820. There is hereby appropriated for the payment thereof, all revenues
derived from the tentative tax levy of $0.6002 per one thousand dollars ($1,000.00) of a~sesseci
valuation, which is hereby levied for that purpose for the fiscal year cotnimncing October 1, 2010,
and ending September 30, 2011, upon the taxable property of the City of Delray Beach, the assessed
valuation being $6,273,034,004.
Section 3. That the above tentative inillage rates are adopted subject to adjustment
in accordance with Section 200.065(5) of the Florida Statutes which provides that a municipality may
adjust its adopted millage rate if the taxable value within the jurisdiction of the taxing authority as
certified pursuant to Section 200.065(1) is at variance by rr~re than one percent (1'%,) with the
taxable value shown on the assf~ssn~nt roll to be extended
Section 4. That a public hearing was held on the proposed budget on September
13, 2010.
PASSED AND ADOPTED in regular session on this the 13th day of September,
2010.
MAYOR
ATTEST:
City Qerk
RES. N0.49-10
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