HomeMy WebLinkAboutCity Council Resolution 01-044RESOLUTION NO. 01-044
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
APPROVING AN INCREASE IN THE CITY'S PROPERTY TAX RATE TO
FUND DEBT SERVICE PAYMENTS ON THE LIBRARY GENERAL
OBLIGATION BONDS FOR FISCAL YEAR 2001-02
WHEREAS, in March 2000, the citizens of Saratoga approved an increase in
their property tax rate to pay for the debt service payments on the Library General
Obligation Bonds; and
WHEREAS, debt service payments on these bonds begin in February 2002; and
WHEREAS, an increase in property taxes of $16.73 per $100,000 of assessed
valuation is sufficient to cover the debt service payments for the year.
NOW, THEREFORE, the City Council of the City of Saratoga hereby resolves
to approve an increase in property taxes of $16.73 per $100,000 of assessed valuation for
the Fiscal year 2001-02 property tax roll.
The above and foregoing resolution was passed and adopted at a regular meeting of the
Saratoga City Council on the 18th day of July, 200, by the following vote:
AYES:
Councilmembers Evan Baker, Ann Waltonsmith, Vice Mayor Nick Streit
NOES: None
ABSENT: Councilmember Stan Bogosian, Mayor John Mehaffey
ABSTAIN: None
Nick Streit, Vice Mayor