HomeMy WebLinkAbout3389 Ordinance CITY OF PASCO, WASHINGTON
ORDINANCE NO.
AN ORDINANCE preserving property tax levy capacity in
the City of Pasco, Washington, for fiscal years after 2000 in
accordance with state law.
WHEREAS, to provide the property tax revenues required by the
operating budget of the City for fiscal year 2000, City Council of the City
levied property taxes on all taxable property in the City for collection in
fiscal year 2000 in the total amount of $2,922,460, which dollar amount is
the sum of (a) $2,198,741, which is the same amount of property taxes
levied by the City in fiscal year 1999, plus (b) $619,240 of available but
unused levy capacity available for fiscal year 1999, plus (c) $104,479, which
is the amount of additional taxes at the 1999 levy rate of 2.4966 cents per
$1,000 of assessed value resulting from the addition of new construction
and improvements to property in the City, property annexed into the City
during fiscal year 1999, and any increase in value of state-assessed property
in the City; and
WHEREAS, the City Council of the City desires to preserve in
accordance with state law (including but not limited to Chapter 84.55 RCW)
the capacity of the City to levy property taxes in future fiscal years after 2000
calculated as if the City in fiscal year 2000 had levied the full amount allowed
by state law upon a finding of substantial need therefor; and
WHEREAS, upon a finding of substantial need and based upon a limit
factor of 106% as provided by RCW 84.55.0101, the City would be permitted
to levy property taxes for fiscal year 2000 in a total amount of $3,565,445
(the "full amount allowed by law"), which dollar amount is the sum of (a)
$3,460,966 (the amount calculated by multiplying the allowable 1999
property tax levy of $3,265,063 times a limit factor of 106%), plus (b)
$104,479, which is the amount of additional taxes at the 1999 levy rate of
2.4966 cents per $1,000 of assessed value resulting from the addition of
new construction and improvements to property in the City, property
annexed into the City during fiscal year 1999, and any increase in value of
state-assessed property in the City; and
WHEREAS, the full amount allowed by law for fiscal year 2000 of
$3,565,445 is $642,985 greater than the actual property tax levy of the City
for fiscal year 2000 of $2,922,460 and such excess of $642,985 represents
the unused 2000 property tax levy capacity that the City desires to preserve
for future fiscal years after 2000; NOW, THEREFORE,
0300866.01
THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO
ORDAIN as follows:
Sec [on 1. The City Council of the City finds and determines that
there is substantial need for the City to preserve for future fiscal years after
2000 the capacity to levy property taxes on all taxable property in the City in
the amount of $642,985, which is equal to the unused levy capacity of the
City for fiscal year 2000. This substantial need includes, without limitation,
the anticipated future requirements for additional property tax revenues
that will be needed to pay debt service on councilmanic bonds expected to
be issued to finance the acquisition and construction of a City softball
complex; to pay for the construction and/or maintenance of roads, streets,
bridges and other transportation facilities of the City; to satisfy anticipated
and unanticipated new regulatory requirements applicable to the City; to
provide for potential excess costs of capital facilities; and generally to meet
other substantial future financial requirements of the City.
Section 2. This ordinance shall take effect and be in force from and
after its passage and five days following its publication as required by law.
PASSED by the City Council by the affirmative vote of a majority plus
one vote of the members thereof and APPROVED by the Mayor of Pasco,
Washington, at a regular open public meeting thereof, this 29th day of
November, 1999.
Charles D. Kilbury, ayor
ATTEST:
Catherine D. Seaman, City Clerk
APPROVED AS TO FORM:
Leland B. Kerr, City Attorney
0300866.01