HomeMy WebLinkAboutCity Council Resolution 02-057RESOLUTION N0.02-057
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 2002-03.
WHEREAS, in March 2000, the citizens of Sazatoga 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 began last February 2002; and
WHEREAS, an increase in property taxes of $16.50 per 1,000 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 $16.50 per $1,000 of assessed valuation for the fiscal
year 2002-03 property tax roll.
AND BE IT FURTHER RESOLVED, the above and foregoing resolution was passed
and adopted at a regular meeting of the Saratoga City Council held on the 7a' day of August 2002
by the following vote:
AYES: Counciimembers Stan Bogosian, John Mehaffey, Ann Waltonsmith,
Vice Mayor Evan Baker, Mayor Nick Streit
NOES: None
ABSENT: None
ABSTAIN: None
Nick Streit, Mayor