Res 85-80 RESOLUTION NO. 85-80
A RESOLUTION TO TENTATIVELY LEVY A TAX ON ALL PROPERTIES
WITHIN THE CITY OF DELRAY BEACH, FLORIDA, FOR MAINTENANCE
AND OPERATION, AND TO TENTATIVELY LEVY A TAX FOR THE PAY-
MENT OF PRINCIPAL AND INTEREST ON BONDED INDEBTEDNESS, AND
TO ALLOCATE AND APPROPRIATE SAID COLLECTIONS THEREUNDER.
NOW, THEREFORE, BE IT RESOLVED by the City Council 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
7.8768 mills per one ($1.00) dollar of assessed valuation which is hereby
tentatively levied on all taxable property within the City of Delray
Beach for the fiscal year commencing October 1, 1980, and terminating
September 30, 1981, the assessed valuation on all taxable property for
operating purposes within the City of Delray Beach being $640,831,192, 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 ten-
tative operating millage rate of 7.8768 mills exceeds the rolled back rate
by 21.95%.~
Section 2. That the amount of money necessary to be raised for inter-
est charges and bond redemption which constitutes a general obligation
bonded indebtedness of the City of Delray 'Beach is $690,245, and that there
~is hereby appropriated for the partial payment thereof, all revenues derived
from the tentative tax levy of 1.1040 mills per one ($1o00) dollar of
assessed valuation, which is hereby levied for that purpose for the fiscal
year commencing October 1, 1980, and terminating September 30, 1981, upon
the taxable property of the City of Delray Beach, the assessed valuation
being $640,831,192, and there is hereby appropriated, if necessary, from
the surplus sinking fund cash, sufficient monies, which together with
proceeds of said tax levy for debt, will meet the debt requirements for
the aforesaid fiscal year.
Section 3. 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 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. The adjustment shall be
~i!such that the taxes computed by applying the adopted rate against the
iicertified taxable value are equal to the taxes computed by applying the
~!iadjusted adopted rate to the taxable value on the roll to be extended.
Section 4. A Public Hearing was held on the Budget on September 9,
!!1980 and October 2, 1980.
PASSED AND ADOPTED by the City Council of the City of Delray Beach,
Florida, this 2nd day of October, 1980.
ATTEST: