Res 72-02RESOLUTION NO. 72-02
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF DELRAY BEACH, TO TENTATIVELY LEVY A TAX ON
Al.I. PROPERTIES WITHIN THE CITY OF DFJ.RAY BEACH,
FLORIDA, FOR MAINTENANCE AND OPERATION, AND
TO TENTATIVFJ.Y LEVY A TAX FOR THE PAYMENT OF
PRINCIPAL AND INTEREST ON BONDED
INDEBTEDNESS, AND TO AIJ.OCATE AND APPROPRIATE
SAID COLLECTIONS THEREUNDER.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF DELRAY BEACH, FLORIDA, AS FO!.!-OWS:
Section 1. That a tax of $7.44 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, 2002, and ending September 30, 2003. 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
$4,167,822,706. The tentative operating millage rate of $7.44 per one thousand dollars ($1,000.00)
exceeds the rolled-back rate of $6.8512 per one thousand dollars ($1,000.00) by 8.59%.
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 $2,216,320. There is hereby appropriated for the payment thereof, all revenues
derived from the tentative tax levy of $0.56 per one thousand dollars ($1,000.00) of assessed
valuation, which is hereby levied for that purpose for the fiscal year commencing October 1, 2002,
and ending September 30, 2003, upon the taxable property of the City of Delray Beach, the assessed
valuation being $4,168,301,249.
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
taxable value shown on the assessment roll to be extended.
Section 4. That a public hearing was held on the proposed budget on September 3,
2002.
2002.
PASSED AND ADOPTED in regular session on this the 34 day of September,
MAYOR
City Clerk
2 Res. No. 72-02
MEMORANDUM
TO:
FROM:
SUBJECT:
DATE:
MAYOR AND CITY COMMISSIONERS
CITY MANAGER
AGENDA ITEM'~ 0 ~. REGULAR MEETING OF SEPTEMBER 3, 2002
RESOLUTION NO. 72-02 (TENTATIVE MILLAGE LEVY)
AUGUST 30, 2002
Resolution No. 72-02 tentatively levies a tax on all properties in the City of Delray Beach for FY 2003
as follows:
7.44 mills for operation and maintenance of the General Fund
0.56 mills for the payment of principal and interest on bonded indebtedness
8.00 mills = tentative millage rate
The tentative millage rate of 8.0 mills is equal to the rmllage for FY 2002. The rolled back rate
calculated under the TRIM law for operating purposes is 6.8512 mills. The tentative nullage rate is
8.59% above the rolled back rate.
The assessed valuation on all taxable property within the City for operating purposes is
$4,167,822,706. The assessed valuation for debt service is $4,168,301,249. The reason for the
differential is the exemptions that were granted to historm properties in the City. They apply to
operating millage only.
Pursuant to the City Charter and TRIM requirements, a public hearing must be held prior to the
adoption of the resolution.
Final adoption of the FY 2003 budget is scheduled for September 17, 2002.
Recommend approval of Resolution No. 72-02.
Ref Agmemo20 Re 72-02 Tentative Millage Levy FY 2003
RESOLUTION NO. 72-02
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF DELRAY BEACH, TO TENTATIVELY LEVY A TAX ON
_Al.I. PROPERTIES WITHIN THE CITY OF DELKAY 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 a tax of $7.44 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, 2002, and ending September 30, 2003. 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 m addition, all revenues detaved 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
dehnquent taxes levied for bond service. The assessed valuation on all taxable property for operating
purposes w~thln the City of Delray Beach is $4,167,822,706. The tentative operating millage rate of $7.44 per
one thousand dollars ($1,000.00) exceeds the rolled-back rate of $6.8512 per one thousand dollars ($1,000.00)
by 8.59%.
Section 2. That the amount of money necessary to be rassed for interest charges and bond
redemption whtch constitutes a general obligation bonded indebtedness of the City of Delray Beach is
$2,216,320. There is hereby appropriated for the payment thereof, all revenues derived from the tentative tax
levy of $0.56 per one thousand dollars ($1,000.00) of assessed valuauon, which is hereby levied for that
purpose for the fiscal year commencing October 1, 2002, and ending September 30, 2003, upon the taxable
property of the City of Delray Beach, the assessed valuation being $4,168,301,249.
Section 3. That the above tentative millage rates are adopted subject to adjustment in
accordance w~th Section 200.065(5) of the Florida Statutes which provides that a municipality may adjust its
adopted mdlage rate if the taxable value within the jurisdiction of the taxing authority as certified pursuant to
Sectton 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 a pubhc hearing was held on the proposed budget on September 3, 2002.
PASSED AND ADOPTED m regular session on this the yd day of September, 2002.
ATTEST:
MAYOR
City Clerk