Res 75-02RESOLUTION NO. 75-02
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF DEI.RAY BE, ACH, TO LEVY A TAX ON Al I.
PROPERTIES WITHIN THE CITY OF DRI.RAY BEACH,
FLORIDA, FOR MAINTENANCE AND OPERATION, AND
TO LEVY A TAX FOR THE PAYMENT OF PRINCIPAL AND
INTEREST ON BONDED INDEBTEDNESS, AND TO
AIJ.OCATE AND APPROPRIATE SAID COI/.ECTIONS
THEREUNDER.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF DF.I.RAY BEACH, FLORIDA, AS FOIJJOWS:
~ection I. That a tax of $7.44 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, 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 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 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.
~;ection 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,
2002 and on September 17, 2002.
2OO2.
PASSED AND ADOPTED in regular session on this the 17m day of Se/i~tember,( ,,m_
MAYOR
City Clerk
2 RES. NO. 75-02
MEMORANDUM
TO:
FROM:
SUBJECT:
DATE:
MAYOR AND CITY COMlVIISSIONERS
CITY MANAGER ~
AGENDA ITEM \0b - REGULAR MEETING OF SEPTEMBER 17, 2002
RESOLUTION NO. 75-02 .(MILLAGE LEVY).
SE~ER 13, 2002
Resolution No. 75-02 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 mill8: millage rate
The millage rate of 8.00 mills is equal to the millage for FY 2002. The rolled back rate calculated
under the TRIM law for operating pm'poses is 6.8512 mills. The millage 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 gxanted to kistoric propex~cies 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.
Recommend approval of Resolution No. 75-02.
RefiAgmemo20.Res.75--0ZMfllage Levy. FY 2003
RESOLUTION NO. 75-02
A RESOLUTION OF THE C1TY COMMISSION OF THE CITY
OF DELRAY BEACH, 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 a tax of $7.44 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, 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 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 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 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, 2002 and on September 17, 2002.
2002.
PASSED AND ADOPTED in regular session on this the 17th day of September,
ATTEST:
MAYOR
City Clerk
2 Res. No. 75-02