54-80 ORDINANCE NO. 54-80
AN ORDINANCE TO LEVY A TAX ON ALL PROPERTIES WITHIN
THE CITY OF DELRAY BEACH, FLORIDA, FOR MAINTENANCE
AND OPERATION, AND TO LEVY A TAX FOR THE PAYMENT OF
PRINCIPAL AND INTEREST ON BONDED INDEBTEDNESS, AND
TO ALLOCATE AND APPROPRIATE SAID COLLECTIONS THEREUNDER.
NOW, THEREFOr, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That there shall be and hereby is appropriated for the
General Fund operations of the City the revenue derived from the tax of
7.8768 mills per one ($1.00) dollar of assessed valuation which is hereby
levied on all taxable Property within the City of Delray Beach for the
fiscal year commencing October 1, 1980, and terminating September 30,
1981, the assessed valuation on all taxable property for operating purposes
within the City of Delray Beach being $640,831,192, for operating and for
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 colleckion of
delinquent taxes levied for bond service. The operating millage'rate of
7.8768 mills exceeds the rolled back rate by 21.95%.
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 $690,245, and that there
is hereby appropriated for the partial payment thereof, all revenues derived
from the tax levy of 1.1040 mills per one ($1.00) dollar of assessed valu-
ation, which is hereby levied for that purpose for the fiscal year com-
mencing October 1, 1980, and terminating September 30, 1981, upon the
taxable property of the City of Delray Beach, the assessed valuation being
$640,831,192, and there is hereby appropriated, if necessary, from the
surplus sinking fund cash, sufficient monies, which together with proceeds
of said tax levy for debt, will meet the debt requirements for the afore-
said fiscal year.
Section 3. The above millage'rates are adopted subject to adjust-
ment in accordance with Section 200.065(5) of the Florida Statutes which
provides that each affected taxing authority may adjust its adopted millage
rate if the taxable value within the jurisdiction of the taxing authority
as certified pursuant to subsection (1) is at variance from the taxable
value shown on the roll to be extended. The adjustment shall be such that
the taxes computed by applying the adopted rate against the certified tax-
able value are equal to the taxes computed by applying the adjusted adopted
rate to the taxable value on the roll to be extended. The City Administration
is hereby authorized to make this adjustment and insert in this ordinance
such adjusted millage rate.
Section 4. A Public Hearing was held on the Budget on September 9,
1980, October 2, 1980 and October 9, 1980.
PASSED AND ADOPTED in special session on second and final reading on
Ithis the 9th day of October, 1980.
-- MA y O R-.~
LEON M. WEEKES
~TTEST:
/City Clerk
~irst Reading September 23, 1980
~econd Reading October 9,. 1980