Res 61-98 RESOLUTION NO. 61-98
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, 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, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION 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 levied on all taxable
property within the City of Delray Beach for the fiscal year
commencing October 1, 1998, and ending September 30, 1999. 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 $2,974,383,492. The operating
millage rate of $6.91 per one thousand dollars ($1,000.00) exceeds
the rolled-back rate of $6.61 per one thousand dollars ($1,000.00) by
4.54%. The aggregate millage rate, including the Downtown
Development Authority Taxing District, exceeds the aggregate
rolled-back rate by 6.03%.
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
$2,233,280. There is hereby appropriated for the payment thereof,
all revenues derived from the tax levy of $0.79 per one thousand
dollars ($1,000.00) of assessed valuation, which is hereby levied for
that purpose for the fiscal year commencing October 1, 1998, and
ending September 30, 1999, upon the taxable property of the City of
Delray Beach, the assessed valuation being $2,974,383,492.
Section 3. That the above 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 public hearings were held on the proposed
budget on Septe~er 15, 1998, and Septe~er 22, 1998.
PASSED ~ ~OPTED in regular session on this the 22nd day
of Septe~er, 1998.
V /MA~O R
ATTEST:
~ - 2 - Res. No. 61-98
MEMORANDUM
TO: MAYOR AND CITY CO. MMISSIONERS
FROM: CITY MANAGER ~/1?
SUBJECT: AGENDA ITEM /0~- REGULAR MEETING OF SEPTEMBER 22, 1998
RESOLUTION NO. 61-98 (MILLAGE LEVY ON ALL PROPERTIES IN
THE CITY)
DATE: SEPTEMBER 18, 1998
Resolution No. 61-98 levies a tax on all properties in the City of
Delray Beach for FY 1999 as follows:
6.91 mills for operation and maintenance of the General Fund
0.79 mills for the payment of principal and
interest on bonded indebtedness
7.70 mills Millage rate
The millage rate of 7.70 mills is one-tenth of a mill less than FY
1998. The rolled back rate calculated under the TRIM law for
operating purposes is 6.61 mills. The millage rate is 4.54% above
the rolled back rate.
Pursuant to the City's Charter and TRIM requirements, a public
hearing must be held prior to the adoption of the resolution.
Recommend approval of Resolution No. 61-98.
ref:agmemol9