Res 55-88 RESOLUTION NO. 55-88
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 there shall be and hereby is appropriated for
the General Fund operations of the City revenue derived from the tax of
$5.3306 per one thousand ($1,000) dollars of assessed valuation which is
hereby levied on all taxable property within the City of Delray Beach
for the fiscal year commencing October 1, 1988, and terminating
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 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 tax levy of $0.6694 per one thousand ($1,000) dollars
of assessed valuation, which is hereby levied for that purpose for the
fiscal vear commencing October i, 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 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 a4just its
adopted millage rate if the taxable value within the jurisdiction of the
taxing authority as certified pursuant to subsection (1) is at variance
from the taxable value shown on the roll to be extended.
Section 4. That a Public Hearing was held on the Tax Levy and
Budget on September 15 and September 27, 1988.
PASSED AND ADOPTED in regular session on this the 27th day of
September, 1988.
ATTEST: