Res 51-88 RESOLUTION NO. 51-88
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRAY
BEACH, FLORIDA, TO TENTATIVELY LEVY A TAX ON ALL PROP-
ERTIES WITHIN T~E 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 COMMISSION OF THE
CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS=
Section 1. That there shall be and hereby is appropriated for
the General Fund o~erations of the City revenue derived from the tax of
$5.3306 per one thousand ($1,000) dollars of assessed valuation which is
hereby tentatively levie~ on all taxable property within the City of
Delray Beach for the fiscal year commencing October 1, 1988, and ter-
minating September 30, 1989, the assessed valuation on all taxable
property for operating purposes within the City of Delray Beach being
$1,930,970,975, for operating and for 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 tentative operating millage rate of
$5.3306 per one thousand ($1,000) dollars does exceed roll back of
$5.2800 per one thousand ($1,000) dollars by $0.0506 per one thousand
($1,000} dollars which is 100.9583% of the rolled back rate.
Section 2. That amount of money necessary to be raised for
interest charges and bond redemption which constitutes a general obliga-
tion bonded indebtedness of the City of Delray Beach is $1,227,944, and
that there is hereby appropriated for the payment thereof, all revenues
derived from the tentative tax levy of $0.6694 per one thousand ($1,000)
dollars of assessed valuation, which is hereby levied for that purpose
for the fiscal year commencing October. 1, 1988, and terminating
September 30, 1989, upon the taxable property of the City of Delray
Beach,. the assessed valuation being $1,930,970,975.
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 each affected taxing authority may
adjust its adopted millage rate if the taxable value within the juris-
diction of the taxing authority as certified pursuant to subsection (1)
is at variance from the taxable value show~ on the roll to be extended.
Section 4. That a Public Hearing was held on the Budget on
September 15, 1988.
PASSED AND ADOPTED in special session on this the 15th day of
September, 1988.
~¥OR
ATTEST~