HomeMy WebLinkAboutCity Council Resolution 03-050
RESOLUTION NO. 03-050
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SARA TOGA APPROVING AN INCREASE IN THE
CITY'S PROPERTY TAX RATE TO FUND DEBT SERVICE
PAYMENTS ON THE LmRARY GENERAL OBLIGATION
BONDS FOR FISCAL YEAR 2003-04.
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 began last February 2002; and
WHEREAS, an increase in property taxes of$12_10 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 $12.10 per $1,000 of assessed valuation for the fiscal
year 2003-04 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 6th day of August 2003
by the following vote:
AYES:
Councilmembers Stan Bogosian, Kathleen King, Norman Kline,
Vice Mayor Ann Waltonsmith, Mayor Nick Streit
NOES: None
ABSENT: None
ABSTAIN: None
Nick treit, Mayor
ATTEST:
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