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HomeMy WebLinkAbout3742 Ordinance ORDINANCE NO. 2=, 7 1 2 Option 2 AN ORDINANCE PROVIDING FOR THE 2006 AD VALOREM TAX LEVY, A LEVY FOR THE 1999 UNLIMITED TAX GENERAL OBLIGATION BONDS AND A LEVY FOR THE 2002 UNLIMITED GENERAL OBLIGATION REFUNDING BONDS IN THE CITY OF PASCO IN ACCORDANCE WITH STATE LAW. THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON DO ORDAIN AS FOLLOWS: §1. The City Council of the City of Pasco has met and considered its budget for the calendar year 2006; §2. The City Council of the City of Pasco after hearing and after duly considering all relevant evidence and testimony presented, determined that the City of Pasco requires a regular levy in the amount of$4,752,886, which does not include an increase in property tax revenues from the previous year, and does include amounts resulting from the addition of new construction and improvements to property and any increases in the value of state-assessed property, and amounts authorized by law as a result of any annexations that have occurred and refunds made, in order to discharge the expected expenses and obligations of the district. The increase in the regular property tax levy is hereby authorized for the 2006 levy in the amount of$0 (ZERO)which is a percentage INCREASE of 0% (ZERO) from the previous year. This increase is exclusive of additional revenue resulting from the addition of new construction and improvements to property and any increase in the value of state assessed property, and any additional amounts resulting from any annexations that have occurred and refunds made. §3. A tax for the following sums of money which includes new construction and annexations to defray the expense and liabilities of the City of Pasco, be and the same is hereby levied for the purposes specified against all taxable property in the City for the fiscal year 2006: General Expense, including Councilmanic Bond Debt Service $4,752,886 1999 Unlimited Tax General Obligation Bond/Library Remodel 77,382 1999 Unlimited Tax General Obligation Bond/Fire Station 98,018 2002 Unlimited Tax General Obligation Refunding Bonds 384,263 $5,312,549 §4. This Ordinance shall take effect five (5) days after passage and publication. Adopt y the City Council of the City of Pasco, on this day of November, 2005. f Pasco: ichael G , Mayor Attest: App ed A To Form: IAIJI/)I . 1\ Webster Jacks oh, City Clerk Leland B. Kerr, City Attorney