Res 67-04 RESOLUTION NO. 67-04
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF DELRAY BEACH, TO TENTATIVELY LEVY A TAX ON
ALL PROPERTIES WITHIN THE CITY OF DELRAY BEACH,
FLORIDA, FOR MAINTENANCE AND OPERATION, AND
TO TENTATIVELY LEVY A TAX FOR THE PAYMENT OF
PRINCIPAL AND INTEREST ON BONDED
INDEBTEDNESS, AND TO _Al J,OCATE AND APPROPRIATE
SAID COLLECTIONS THEREUNDER.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF DELRAY BEACH, FLORIDA, AS FO! .I.OWS:
Section 1. That a tax of $7.45 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, 2004, and ending September 30, 2005. 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 De[ray Beach is
$5,382,116,I99. The tentative operating millage rate of $7.45 per one thousand dollars ($1,000.00)
exceeds the rolled-back rate of $6.7619 per one thousand dollars ($1,000.00) by 10.18%.
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 $2,812,704. There is hereby appropriated for the payment thereof, all revenues
derived from the tentative tax levy of $0.55 per one thousand dollars ($1,000.00) of assessed
valuation, which is hereby levied for that purpose for the fiscal year commencing October 1, 2004,
and ending September 30, 2005, upon the taxable property of the City of De[ray Beach, the assessed
valuation being $5,383,166,342.
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 within the jurisdiction of the taxing authority as
certified pursuant to Section 200.065(1) is at variance by more than one percent (1%) with the
taxable value shown on the assessment roll to be extended.
Section 4. That a public heating was held on the proposed budget on September 7,
2004.
PASSED AND ADOPTED in reg~lar session on this the 7* day of September,
2004.
ATI'PLST:
Acting City Clerk
2 RES. NO. 67-04
MEMORANDUM
TO: MAYOR AND CITY COMMISSIONERS
FROM: CITY MANAGER
SUBJECT: AGENDA ITEM # ~ ~3 ~ - REGULAR MEETING OF SEPTEMBER 7. 2004
RESOLUTION NO, 67-04 .frENTATIVE MILLAGE LEVY).
DATE: SEPTEMBER 3, 2004
Resolution No. 67-04 tentatively levies a tax on all properties in the City of Delray Beach for FY 2005
as follows:
7.45 mills for operation and maintenance of the General Fund
0.55 mills for the payment of principal and interest on bonded indebtedness
8.00 millsa = tentative mill~e rate
The rate of 8.00 mills is the same as FY 2004. Operating millage is decreased from 7.52 to 7.45, while
debt set,ice millage is mereased from 0.48 to 0.55. The rolled back rate calculated under the TRIM
law for operating purposes is 6.7619 mills. The tentative millage rate is 10.18% above the rolled back
rate.
The assessed valuation on all taxable property within the City for operating purposes is
$5,382,116,199. The assessed valuation for debt service is $5,383,166,342. The reason for the
differential is the exemptions that were granted to historic properties in the City. They apply m
operating millage only.
Pursuant to the City Charter and TRIM requirements, a public heating must be held prior to the
adoption of the resolution.
Final adoption of the FY 2004 budget is scheduled for September 21, 2004.
Recommend approval of Resolution No. 67-04.
S:\City Clerk\agenda memo~\Re$. 674)4 Tentative ~ Levy FY 2005
RESOLUTION NO. 67-04
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF DELRAY BEACH, TO TENTATIVELY LEVY A TAX ON
AI.L PROPERTIES WITHIN THE CITY OF DEl_RAY BEACH,
FLORIDA, FOR MAINTENANCE AND OPERATION, AND
TO TENTATWELY LEVY A TAX FOR THE PAYMENT OF
PRINCIPAL AND INTEREST ON BONDED
INDEBTEDNESS, AND TO ALI.OCATE 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 $7.45 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, 2004, and ending September 30, 2005. There shall be and hereby
is appropriated for the General Fund operations of the C~ty 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
$5,382,116,199. The tentative operating millage rate of $7.45 per one thousand dollars ($1,000.00)
exceeds the rolled-back rate of $6.7619 per one thousand dollars ($1,000.00) by 10.18%.
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 $2,812,704. There is hereby appropriated for the payment thereof, all revenues
derived from the tentative tax levy of $0.55 per one thousand dollars ($1,000.00) of assessed
valuation, which is hereby levied for that purpose for the fiscal year commencing October 1, 2004,
and ending September 30, 2005, upon the taxable property of the City of Delray Beach, the assessed
valuation being $5,383,166,342.
Section 3. That the above tentative r~il!age 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 more than one percent (l¥0) with the
taxable value shown on the assessment roll to be extended.
Section 4. That a public heating was held on the proposed budget on September 7,
2004.
PASSED AND ADOPTED in regular session on this the 7* day of September,
2004.
MAYOR
A'I'I'EST:
Acting City Clerk
2 RES. NO. 67-04