HomeMy WebLinkAbout01-62 - Setting Tax Rate Per Centum and Levying a TaxRESOLUTION N0.
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 UNDER THE 1974
OPEN SPACE BOND ISSUE FOR FISCAL YEAR 2001-2002.
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 seventy thousand four hundred
dollars ($270,400.00), 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 2001-2002 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 .00304 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 4th day of September, 2001.
Mayor of the City of Costa Mesa
ATTEST:
APPROVED AS TO FORM
Deputy City Lerk of the City of Costa Mesa
CITY ATTO y
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. 01-6;L was duly and regularly passed and adopted by the said
City Council at a regular meeting thereof held on the 4th day of September, 2001.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of
the City of Costa Mesa this 5th, day of September 2001.
Deputy City Jerk and ex -officio Clerk of
the City Co cil of the City of Costa Mesa
CITY OF COSTA MESA
1974 OPEN SPACE BOND ISSUE
TAX RATE CALCULATION
FISCAL YEAR 2001-2002
Amount to be levied:
2001-2002 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
Tax rate
EXHIBIT "A"
$270,400
29,291
7,824
$233,285
$233,285
7,681,180,413
.0000304 or
0.00304%