Res 65-00RESOLUTION NO. 65-00
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 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 $7.26 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, 2000, and ending September 30, 2001. 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 $3,388,032,757. The tentative operating millage rate of $7.26 per one thousand
dollars ($1,000.00) exceeds the rolled-back rate of $6.5949 per one thousand dollars ($1,000.00)
by 10.09%.
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 $2,212,920. There is hereby appropriated for the payment thereof, all revenues
derived from the tentative tax levy of $0.69 per one thousand dollars ($1,000.00) of assessed
valuation, which is hereby levied for that purpose for the fiscal year commencing October 1,
2000, and ending September 30, 2001, upon the taxable property of the City of Delray Beach, the
assessed valuation being $3,388,505,318.
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.
7,2000.
2000.
Section 4. That a public hearing was held on the proposed budget on September
PASSED AND ADOPTED in regular session on this the 7th day of September,
MAYOR
ATTEST:
2 Res. No. 65-00
MEMORANDUM
TO:
FROM:
SUBJECT:
MAYOR AND CITY COMMISSIONERS
CITY MANAGER ~
AGENDA ITEM/OA - REGULAR MEETING OF SEPTEMBER 7~ 2000
DATE:
RESOLUTION NO. 65-00 (TENTATIVE MILLAGE LEVY)
SEPTEMBER 1, 2000
Resolution No. 65-00 tentatively levies a tax on all properties in the City of Delray Beach for FY
2001 as follows:
7.26 mills for operation and maintenance of the General Fund
0.69 mills for the payment of principal and interest on bonded indebtedness
7.95 mills = tentative millage rate
The tentative millage rate of 7.95 mills is three-tenths of a mill more than FY 2000. The rolled
back rate calculated under the TRIM law for operating purposes is 6.5949 mills. The tentative
millage rate is 10.09% above the rolled back rate.
The assessed valuation on all taxable property within the City for operating purposes is
$3,388,032,757. The assessed valuation for debt service is $3,388,505,318. 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 heating must be held prior to the
adoption of the resolution.
Final adoption of the FY 2001 budget is scheduled for September 19, 2000.
Recommend approval of Resolution No. 65-00.
Ref'Agmemo20.Res65-00.Tentative Millage Levy. FY 2001