HomeMy WebLinkAbout13-048 Resolution for GO Property Tax Levy RESOLUTION NO. 13-048
A R�SOLUTION OF TH� CITY COUNCIL OF THE CITY OF SARATOGA
�STABLISHING THE FY 2013/14 PROPERTY TAX L�VY ASS�SSM�NT RATE FOR
D�BT SERVIC� PAYM�NTS ON THE LIBRARY G�N�RAL OBLIGATION BOND
WHEItEAS, in 1Vluch 2000, the citizens of Saratoga approved an iilcre�se in their
property tax rate to pay for the debt seivice and other e�penses of the �eneral obli�ation bonds
for construction of the Library; and
WH�REAS, the general obligation bonds were originally sold on April 24; 2001, and
WHEREAS; the general obli�ation boiids were refiuided on AugList l, 2011, and
WHEIZ�AS, it is necessary for the City Council of the City of Saratoga to establish ul
anntial property taa levy rate to provide fiinds for debt service payments and related elpeilditures
during the fiscal year,
NOW, THEREFORE, BE IT R�SOLVED that the FY 2013/14 Property Ta� Levy
rate for debt service on the Librar}� General Obligation Bonds be established at $.0074 per $100
of assessed valuatioil.
The above and foregoin� resoli►tion was passed and adopted at an adjourned meetinb of the
Saratoga CitS� Couiicil held on the 3`� day of July 2013 by the following vote:
AYES: Collncil Member Chucl:Pa�e, Maiuiy Cappello, Ho�vard Miller, Vice Nlavor
Emily Lo, Mayor Jill Hunter
NOES: None
ABSENT: None
ABSTAIN: None
�
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Jill Hiulter, Mayor
ATTEST:
�I� �-��-- � l7 DAT�: � °� 2 � ►"3
rys � Bothelio, City Clerlc