HomeMy WebLinkAbout98-77 - Setting 1998-99 Tax Rate for 1974 Open Space Bond Issue15
RESOLUTION NO. 98-77
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 for municipal purposes, a
tax for the purpose of raising the sum of two hundred sixty-four thousand eight
hundred dollars (5264,800.00), 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 1998-99 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 .00409 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 1 (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 17th day of Au 1998.
Mayor of the City of Wa Mesa
ATTEST:
Deputy City CI r of the City of Costa Mesa
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
OBLIGATION
ISSUE FOR
UNDER
FISCAL
THE
YEAR
1974 OPEN SPACE BOND
1998-99.
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 for municipal purposes, a
tax for the purpose of raising the sum of two hundred sixty-four thousand eight
hundred dollars (5264,800.00), 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 1998-99 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 .00409 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 1 (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 17th day of Au 1998.
Mayor of the City of Wa Mesa
ATTEST:
Deputy City CI r of the City of Costa Mesa
E
STATE OF CALIFORNIA ►
COUNTY OF ORANGE ► ss
CITY OF COSTA MESA 1
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. 98-77 was duly and regularly passed and adopted by the said
City Council at a regular meeting thereof held on the 17th day of August, 1998.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of
the City of Costa Mesa this 18th day of August, 1998.
-7- ep "
Deputy City rk and ex -officio Clerk of
the City Cour-Wil of the City of Costa Mesa
1
1
1
EXHIBIT "A"
CITY OF COSTA MESA
1974 OPEN SPACE BOND ISSUE
TAX RATE CALCULATION
FISCAL YEAR 1998-99
Amount to be levied:
1998-99 Debt service requirement $264,800
Less: Unsecured roll revenue 32,877
Supplemental roll revenue 532
Amount to be levied $231,391
Tax rate calculation:
Amount to be levied $231,391
Divide by current net assessed valuation 5,650,738,554
Tax rate .0000409 or
.00409%
Exhibit "A"
Resolution No. 98-77
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