Res 64-96 RESOLUTION NO. 64-96
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRAY
BEACH, FLORIDA, TO TENTATIVELY LEVY A TAX ON
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 ~T.TOCATE AND APPROPRIATE SAID
COT.T.~CTIONS THEREUNDER.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
OF DELRAY BEACH, FLORIDA, AS FOLIX3WS:
Section 1. That a tax of $6.95 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, 1996, and eD~ling September 30, 1997. 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 a~tion, 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 deliD~tuent taxes levied for bond service. The assessed
valuation on all taxable property for operating purposes within the City of
Delray Beach is $2,634,640,096. The tentative operating millage rate of
86.95 per one thousand dollars ($1,000.00) exceeds the rolled-back rate of
$6.73 per one thousand dollars ($1,000.00) by 3.27%.
Section 2. That the amount of money necessary to be raised for
interest charges aD~ bond redemption which constitutes a general obligation
boD~ed indebtedness of the City of Delray Beach is $2,233,220. There is
hereby appropriated for the payment thereof, all revenues derived from the
tentative tax levy of $0.90 per one thousand dollars ($1,000.00) of assessed
valuation, which is hereby levied for that purpose for the fiscal year
commencing October 1, 1996, and ending September 30, 1997, upon the taxable
property of the City of Delray Beach, the assessed valuation being
$2,634,640,096.
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 ta~_able value shown on the assessment roll to be
extended.
Section 4. That a public hearing was held on the proposed budget
on September 3, 1996.
PASSED AND ADOPTED in regular session on this the 3rd day of
September, 1996.
!.
City clerk { '
- 2 - Res. No. 64-96
MEMORANDUM
TO: MAYOR AND CITY COMMISSIONERS
FROM: CITY MANAGER ~/I
SUBJECT: AGENDA ITEM # /dR - MEETING OF SEPTEMBER 3, 1996
RESOLUTION NO. 64-96 (TENTATIVE TAX LEVY ON ALL
PROPERTIES IN THE CITY)
DATE: AUGUST 30, 1996
Resolution No. 64-96 tentatively levies a tax on all properties
in the City of Delray Beach for fiscal year 1996/97 as follows:
~D~ mills for operation and maintenance
of the General Fund
.90 mills for the payment of principal and
interest on bonded indebtedness
7.90 mills Millage Rate
The tentative millage rate of 7-~90 mills is t~.e s~me as FY
1995/96. The rolled back rate calculated under the TRIM law for
operating purposes is 6.73 mills. The tentative millage rate is
~rrS-l-percent 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 proposed
millage rate. Staff will make a brief presentation to open the
public hearing.
Recommend approval of Resolution No. 64-96. Final adoption of
the budget for FY 1996/97 is scheduled for September 17, 1996.