HomeMy WebLinkAboutCity Council Resolution 11-047 RESOLUTION NO. 11 047
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
ESTABLISHING THE PROPERTY TAX LEVY
FOR THE DEBT SERVICE OF THE LIBRARY GENERAL OBLIGATION BOND
FOR 2011/12 AT $.0088 PER $100 OF ASSESSED VALUATION
WHEREAS, in March 2000, the citizens of Saratoga approved an increase in their
property tax rate to pay for the debt service and other expenses of the general obligation bonds
for construction of the Library, and
WHEREAS, the general obligation bonds were sold on April 24, 2001, and
WHERAS, it is necessary for the City Council of the City of Saratoga to establish an
annual property tax levy to provide funds for debt service payments and related expenditures due
in FY 2011/12.
NOW, THEREFORE, BE IT RESOLVED that the 2011 /12 Property Tax Levy rate for
debt service on the Library General Obligation Bonds be established at $.0088 per $100 of
assessed valuation.
The above and foregoing resolution was passed and adopted at an adjourned meeting of the
Saratoga City Council held on the 6 day of July 2011 by the following vote:
AYES: Councilmember Manny Cappello, Emily Lo, Jill Hunter, Vice Mayor Chuck
Page,
Mayor Howard Miller
NOES: None
ABSENT: None
ABSTAIN: None
/1),,
o
Howard A. Mi ler, Mayor
City of Saratoga
ATTEST:
4.c■I DATE: '7- 7- M
A City Clerk
City of Saratoga