Res 70-96 RESOLUTION NO. 70-96
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRAY
BEACH, FLORIDA, TO LEVY A TAX C~ ~T.T. PROPERTIES WITHIN
THE CITY OF DRT.RAY 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 COT.T.RCTIONS THEREUNDER.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
OF D~T.RAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That a tax of $6.95 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,
!996, and ending 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 _~_~_~_!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 delinquent 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 operating millage rate of $6.95 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%. The aggregate millage rate, including
the Downtown Develolmnent Authority Taxing District, exceeds the aggregate
rolled-back rate by 3.33%.
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 $2,233,220. There is
hereby appropriated for the payment thereof, all revenues derived from the
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, ! 997, upon the taxable property of
the City of Delray Beach, the assessed valuation being $2,634,640,096.
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 September 3, 1996, and September 17, 1996.
PASSED AND ADOPTED in regular session on this the 17th day of
Septembenc, 1996.
~ city
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- 2 - Res. No. 70-96
MEMORANDUM
TO: MAYOR AND CITY COMMISSIONERS
FROM: CITY MANAGER~C~
SUBJECT: AGENDA ITEM # /0 ~ - MEETING OF SEPTEMBER 17, 1996
RESOLUTION NO. 70-96 (TAX LEVY ON ALL PROPERTIES IN THE
CITY)
DATE: SEPTEMBER 13, 1996
Resolution No. 70-96 levies a tax on all properties in the City
of Delray Beach for fiscal year 1996/97 as follows:
6.95 mills for operation and maintenance of the General Fund
.90 mills for the payment of principal and
interest on bonded indebtedness
7.85 mills Millage Rate
The millage rate of 7.85 mills is 0.05 less than FY 1995/96. The
rolled back rate calculated under the TRIM law for operating
purposes is 6.73 mills. The tentative millage rate is 3.27%
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.
Recommend approval of Resolution No. 70-96.