HomeMy WebLinkAboutCity Council Resolution 12-043 Estab Property Tax Levy for Debt Service of Library GO Bond for FY 1213 07-18-2012RESOLUTION NO. 12-043
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 2012/13 AT $.0080 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 originally sold on April 24, 2001, and
WHEREAS, the general obligation bonds were refunded on August 1, 2011, and
WHEREAS, 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 2012/13.
NOW, THEREFORE, BE IT RESOLVED that the FY 2012/13 Property Tax Levy rate for
debt service on the Library General Obligation Bonds be established at $.0080 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 18th day of July 2012 by the following vote:
AYES: Council Member Manny Cappello, Emily Lo, Howard Miller, Vice Mayor Jill Hunter,
Mayor Chuck Page
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
ryst orrow, City Clerk
DATE:
1
Chuck age, Mayor
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