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HomeMy WebLinkAbout2093 OrdinanceORDINANCE NO. 2093 AN ORDINANCE fixing the amount of the ad valorem tax levies, the payment of principal and interest upon the general bonded indebtedness of the City of Pasco for the fiscal year 1980, the amount for deposit to the local inprovement guaranty fund for 1980, levying the annual ad valorem taxes of the City of Pasco for the fiscal year,1980, and apportioningof the same to certain funds for certain purposes. THE CITY COUNCIL OF THE CITY OF PASCO DOES ORDAIN AS FOLLOWS: Section 1. That the annual amount of the ad valorem tax levies of the City of Pasco for the fiscal year 1980 be and the same are hereby levied upon real and personal property subject to taxation in said city and all the assessment districts thereof in the amount as follows: a) General, Government ..... $3.60 per $1,000 of assessed valuation This subtotal levy amount is under the authority of R.C.W. 41.16.164 which provides for a levy of $.225 per thousand dollars and R.C.W. 84.52.043 which provides for the levy $3.375 per thousand dollars. Included in the proceeds of the subtotal levy above stall be the amounts payable as follows: 1968 General Obligation Bond Fund $ 7,000 1969 General Obligation Bond Fund $ 7,000 1977 General Obligation Bond Fund $ 63,000 1979 General Obligation Bond Fund $ 68,000 b) In addition to the general levy of ad valorem taxes in subsection (a), the city shall levy an ad valorem tax upon the property of the city subject to such taxation in such amount as to raise the following proceeds from said taxation: 1) 1961 Library General Obligation Bond Fund .......... $31,000 2) 1965 Arterial Street General Obligation Bond Fund..$64,000 3) 1971 Bridge General Obligation Bond Fund ........... $70,000 4) Local Improvement Guaranty Fund....................$59,000 c) The amounts in subsection (b)(1),(2), and (3) are levied for said funds as previously authorized for said special levies. The amount levied in subsection (b)(4) is authorized pursuant to R.C.M. 35.54.060 which provides for the levy of a tax for the maintenance of the Local Improvement Guaranty Fund which tax shall be additional to, and, if need be, in excess of all statutory and charter limitations applicable to tax levies in any city or town. The amount levied in subsection (b) :(4) is in an amount deemed necessary to maintain the Local Improvement Guaranty Fund and is in an amount which does not exceed five percent of the outstanding obligations guaranteed by said fund. _2_ Section 2. That said taxes herein provided for are levied for the purposes of raising revenue sufficient to pay the principal and interest upon the general bonded indebtedness of the City of Pasco and: -for a portion of the General Fund, and for the operation of the several departments of the Municipal Government of the City of Pasco and to guarantee outstanding local improvement bonds and warrants for -the fiscal year beginning January 1, 1980, and ending December -31, 1980. Further, said taxes are hereby levied upon all the real and personal property as shown by the assessments in the County of Franklin, as finally fixed by the county and the State Board of Equalization, and as extended upon the books of the county assessor, showing the property within said city subject to taxation for municipal purposes, and upon the amount of said real and personal property as certified by the county assessor, which certification is to be received by the City of Pasco, all pursuant to and under and by virtue of the Laws of the State of Washington. Section 3. That the taxes collected from the levies hereby fixed, together with the estimated revenues from sources other than ad valorem taxes which constitute the appropriations of the City of Pasco for the fiscal year 1980 will be appropriated as itemized and classified in the annual budget for the fiscal year 1980. PASSED by the City Council of the City of Pasco this 1 day of October , 1979. 1 P� Chet Bailie, Mayor AT: ls, City Clerk APPROVED AS TO FO ILA�3 Q: t0f ;Lc__ Dennis J. De Mice, City Attorney