Res 56-99P-ESOLUTION NO. 56-99
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 CO~ISSION
OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That a tax of $6.91 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, 1999, and ending
September 30, 2000. 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 $3,176,541,315. The tentative
operating millage rate of $6.91 per one thousand dollars
($1,000.00) exceeds the rolled-back rate of $6.6393 per one
thousand dollars ($1,000.00) by 4.0772%.
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 $2,214,670. There is hereby appropriated for
the payment thereof, all revenues derived from the tentative tax
levy of $0.74 per one thousand dollars ($1,000.00) of assessed
valuation, which is hereby levied for that purpose for the
fiscal year commencing October 1, 1999, and ending September 30,
2000, upon the taxable property of the City of Delray Beach, the
assessed valuation being $3,176,541,315.
~ection 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.
~ection 4. That a public hearing was held on the
proposed budget on September 7, 1999.
PASSED AND ADOPTED in regular session on this the 7tn
day of September, 1999.
ATTEST:
~City ~Cl~rk
Res. No. 56-99
MEMORANDUM
TO:
FROM:
SUBJECT:
MAYOR AND CITY COMMISSIONERS
CITY MANAGER~
AGENDA ITEM #/~ - REGULAR MEETING OF SEPT~R 7, 199q
RESOLuT£ON NO. 56-99 (TENTATIVE MILLAGE LEVY)
DATE: SEPTEMBER 2, 1999
Resolution No. 56-99 tentatively levies
in the City of Delray Beach for FY 2000
6.91 mills
a tax on all properties
as follows:
for operation and maintenance
of the General Fund
for the payment of principal and
interest on bonded indebtedness
Tentative millage rate
0.74 mills
7.65 mills .
The tentative millage rate of 7.65 mills is five-hundredths of a
mill less than FY 1999. The rolled back rate calculated under
the TRIM law for operating purposes is 6.64 mills. The tentative
millage rate is 4.08% above the rolled back rate.
Pursuant to the City Charter and TRIM requirements, a public
hearing must be held prior to the adoption of the resolution.
Final adoption of the FY 2000 budget is scheduled for September
21, 1999.
Recommend approval of Resolution No. 56-99.
Ref:Agmemo20.Res56-99.Tentative Millage Levy