HomeMy WebLinkAbout96-82 - Setting theTax Rate Per Centum & Levying a Tax, Open Space Bond Issue for FY 1996-97RESOLUTION NO. 46 - S�-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, SETTING THE TAX RATE
PER CENTUM AND LEVYING A TAX UPON ALL
PROPERTY WITHIN THE CITY OF COSTA MESA WHICH
IS TAXABLE TO MEET THE CITY'S OBLICATION UNDER
THE 1974 OPEN SPACE BOND ISSUE FOR FISCAL YEAR
1996-97.
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY
RESOLVE AS FOLLOWS:
WHEREAS, an election was held on September 11, 1973, pursuant to Title
4, Division 4, Articles 1 through 8, Sections 43600 through and including 43904,
California Government Code; and
WHEREAS, a bond issue for open space lands was approved by the
electorate at said election; and
WHEREAS, pursuant to Section 43632, California Government Code, the
City of Costa Mesa is required to levy a tax sufficient to meet all payments of the
principal and interest on said bonds.
NOW , THEREFORE, BE IT RESOLVED that there be and is hereby levied
upon all property within the City of Costa Mesa, which is taxable therein for
municipal purposes, a tax for the purpose of raising the sum of two hundred sixty-
two thousand eighty dollars ($262,080.00), with which to meet payments of
principal and interest of bonded indebtedness incurred under the 1974 Open Space
Bond Issue, for the current fiscal year of 1996-97, which said amount is sufficient
for the aforesaid purpose, and the Tax Rate Calculation is contained in Exhibit "A"
attached hereto.
BE IT FURTHER RESOLVED that the rate per centum of the tax hereinafter
levied shall be and is hereby set as .00414 percent of the full cash value of all
taxable property within the City of Costa Mesa, for the aforesaid purpose. Said tax
rate is levied pursuant to Article XIII -A, Section I(b) of the Constitution of the State
of California and is for the purpose of paying the requirements of voter approved
indebtedness.
BE IT FINALLY RESOLVED that this resolution shall take effect and be in full
force immediately.
PASSED AND ADOPTED this 19th day of August, 1996.
'40-c- e
I
4or of the City of Costa Mesa
ATTEST:
PPROVED AS TO FORM
Deputy Cit Jerk of the City of Costa Mesa CITY ATTORNEY
STATE OF CALIFORNIA)
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA)
I, MARY T. ELLIOTT, Deputy City Clerk and ex -officio Clerk of the City
Council of the City of Costa Mesa, hereby certify that the above and foregoing
Resolution No. - S 2. was duly and regularly passed and adopted by the said
City Council at a regular meeting thereof held on the 19th day of August, 1996.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of
the City of Costa Mesa this 20th day of August, 1996.
— !I-: L�a� 7—
Deputy Cit Clerk and ex -officio Clerk of
the City Council of the City of Costa Mesa
CITY OF COSTA MESA
1974 OPEN SPACE BOND ISSUE
TAX RATE CALCULATION
FISCAL YEAR 1996-97
Amount to be levied:
1996-97 Debt service requirement
Less: Unsecured roll revenue
Supplemental roll revenue
Amount to be levied
Tax rate calculation:
Amount to be levied
Divide by current net assessed valuation
EXHIBIT "A"
S 262,080.00
33,298.00
1,295.00
$ 227,487.00
$ 227,487.00
5,496,508,596.00
Tax rate .0000414 or .00414%