Res 54-03RESOLUTION NO. 54-03
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF DFJ.RAY BEACH, TO TENTATIVELY LEVY A TAX ON
Al,I, 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 AI.I.OCATE AND APPROPRIATE
SAID CO1 I.F. CTIONS THEREUNDER.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOI.LOWS:
Section 1. That a tax of $7.52 per one thousand dollars ($1,000.00) of assessed
valuation is hereby tentatively levied on all taxable property within the City of De_kay Beach for the
fiscal year commencing October 1, 2003, and ending September 30, 2004. 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
$4,730,050,967. The tentative operating millage rate of $7.52 per one thousand dollars ($1,000.00)
exceeds the rolled-back rate of $6.6911 per one thousand dollars ($1,000.00) by 12.39%.
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
Del.ray Beach is $2,157,382. There is hereby appropriated for the payment thereof, all revenues
derived from the tentative tax levy of $0.48 per one thousand dollars ($1,000.00) of assessed
valuation, which is hereby levied for that purpose for the fiscal year commencing October 1, 2003,
and ending September 30, 2004, upon the taxable property of the City of Delray Beach, the assessed
valuation being $4,731,101,110.
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.
2003.
~gction 4. That a public hearing was held on the proposed budget on September 9,
2003.
PASSED AND ADOPTED in regular session on this the 9~h day of September,
City Clerk
2 RES. NO. 54-03
MEMORANDUM
TO:
MAYOR AND CITY COMMISSIONERS
FROM: ~CITY MANAGER
SUBJECT: AGENDA ITEM IO ~. REGULAR MEETING OF SEPTEMBER 9. 2003
RESOLUTION NO. $4-03 (TENTATIVE MII.!.AGE LEVY)
DATE:
SEPTEMBER 30, 2003
Resolution No. 54-03 tentatively levies a tax on all properties in the City of Delray Beach for FY 2004
as follows:
7.52 mills for operation and maintenance of the General Fund
0.48 mills for the payment of principal and interest on bonded indebtedness
8.00 mills = tentative millage rate
The rate of 8.00 mills is the same as FY 2003. The rolled back rate calculated under the TRIM law for
operating purposes is 6.6911 mills. The tentative millage rate is 12.39% above the rolled back rate.
The assessed valuation on all taxable property within the City for operating purposes is
$4,730,050,967. The assessed valuation for debt service is $4,731,101,110. 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.
Final adoption of the FY 2004 budget is scheduled for September 23, 2003.
Recommend approval of Resolution No. 54-03.
Ref:Agmemo20.Re.54-03.Temative Millage Levy. FY 2004
RESOLUTION NO. 54-03
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF DELKAY BEACH, TO TENTATIVELY LEVY A TAX ON
ALL PROPERTIES WITHIN THE CITY OF DELKAY 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 $7.52 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, 2003, and ending September 30, 2004. 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 Delxay Beach is
$4,730,050,967. The tentative operating millage rate of $7.52 per one thousand dollars ($1,000.00)
exceeds the rolled-back rate of $6.6911 per one thousand dollars ($1,000.00) by 12.39%.
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 $2,157,382. There is hereby appropriated for the payment thereof, all revenues
derived from the tentative tax levy of $0.48 per one thousand dollars ($1,000.00) of assessed
valuation, which is hereby levied for that purpose for the fiscal year commencing October 1, 2003,
and ending September 30, 2004, upon the taxable property of the City of Delray Beach, the assessed
valuation bdmg $4,731,101,110.
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,
2003.
Section 4. That a public hearing was held on the proposed budget on September 9,
2003.
PASSED AND ADOPTED in reg,,hr session on this the 9m day of September,
A i'I'£ST:
MAYOR
City Clerk
2 P~S. NO. 54-03