HomeMy WebLinkAboutOrdinance 1862 N.C.S. 08/05/1991I ORDINANCE NO. 1862 N.C.S.
2
3
4 INTRODUCED
5 BY COUNCILPERSON SECONDED BY
6
7
8 Vice Mayor Woolsey Jack Cavanagh
9
10 AN ORDINANCE LEVYING RATE OF TAXATION UPON THE
11 ASSESSED VALUATION OF THE PROPERTY IN THE CITY OF
12 PETALUMA FOR THE FISCAL YEAR JULY 1, 1991 TO JUNE 30, 1992
13 AND DECLARING ITS URGENCY TO TAKE EFFECT IMMEDIATELY
14
15
16 BE IT ORDAINED BY THE COUNCIL OF THE CITY OF PETALUMA AS
17 FOLLOWS:
18 Section 1. The City Council having adopted its annual budget, there is
19 hereby levied upon the assessed valuation of the property in the City, including
20 property as originally incorporated and added thereto upon each One Hundred
21 ($100.00) valuation of said property:
22 FOR DEBT SERVICE ....... $.0118
23 The Council hereby finds and determines that said rate of taxation is sufficient to
24 raise the amounts estimated to be required for annual debt service of outstanding
25 general obligation bonds.
26 Section 2. This ordinance is hereby declared to be necessary for the
27 immediate preservation of the public peace, health and safety and shall take
28 effect and be in force upon its passage by a unanimous vote for the members of the
29 City Council present at the time of its adoption. The reason for the urgency of this
30 ordinance is that said tax levy must be adopted not later than the first Tuesday in
31 September, 1991, in order to comply with the City Charter and provide funds
32 necessary to the preservation of the public peace, health and safety for the City of
33 Petaluma.
34 Section 3. The City Clerk be, and she is hereby directed to post/publish
35 this ordinance for the period and in the manner required by the City Charter.
Ord. 1862 N.C.S.
r
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
INTRODUCED, ADOPTED AND ORDERED posted/published this
5th day of August , 1991, by the following vote:
AYES: Read, Davis, Cavanagh, Sobel, Nelson, Vice Mayor Woolsey, Mayor Hilligoss
NOES: None
ABSENT: None
M.Patricia Hill
Attest: Approved:
Patricia E. ernard-, City Glerk
DrpU-Ty CITY CLERK
City Attorney
igoss,
Ord. 1862 N.C.S.
m
'
- . .
'
'
0?8ftUM0
CALCULAT04 OF GENERAL OBLIGATION DEBT
'
SERVICE REQUIREMENTS
'
'
'
FY19:9V-92
'
1966
1973
i975
'
TOTAL
WATER UN
REFUNDING OF
1-0NKY
ALL �
CONTROL—
'
iY70MUNl l��
�
D�0S '
IMPROVEMENTS
----------------------
'
AM0UNT UF ORIGINAL ISSUE
2.35V,000
--__-_______-___-_—__—____-_--
855,000
750.000
3.955,000- '
^ON0 PRINCIPAL OUTSTANDING
' .
AT JUNE 30`1991
915,0O0
345,:000
425.000
'
1.685,000
AVERAGE lNTIK[ST'R0IS
13J - ' 5.5%
5.15%
' 6.0%
FINAL BONDS MATURE ON
~~~==~~~~~~~~~~~~~=~~~~~~~~~~~=r=~~^~^~^^=,~~~~~=~~~~~~~^~~~~~~~~~~~^~~~~~
06/01/99-�
04/5/96
04/45/00.
.
~^=~~=^~~~~~~~^~~~=~
FYl991'Y2 DEBTSERVICE AND,
'
ADMINISTR.ATION PBS
BOND PRINCIPALl00,���
0
35,000,100
l.�,0O0.
`35,070.00
17.250'K
26`8'0^00
79MiV'
PAYING AGENT FEES
1`0O&VV
1.000.00
--=�~_~-__-_-_—__~___--~-=^_
3,000.00
TUT0L 8[RT 5EkVlC[& FEES-
07,Q0O
__'~^=~---`_-___-_—______
78[250,00
.
8:18/0,00
277,190.00
`
P8l08 YEAR EUNUS��V8lLABL[TO
REDUCE T YEAR,
�kATr`
'TAX
Q5,' ' OO)
D2,��^OA)
(l,30�V0)
'
(39`541.00)
5%ALU)WAHC[ FOR DELINQUENCY
68V3.50
----------------
3\912.50,1
-_'-__---_-----------------------
3.+143,50
13\00.50
_—___-
NETAMOUNT TO 8[RAISED BY
-
TAXES DNpY 1991-92
.
.
^��' '�0
69,5/5.50,
�6�
��50
251.508.50
TA ' U TO
0,0055
0.00313
'
. 0.0030
0.0118
ESTD10IDUSSESS[U
'
VALUATION '(DIVIDED
BY $dOO) '
' ,NETT0TA SEU
'—�
^ �l-�0�Y7'�
� Y1,�,IY7
M
'
2l�70.JY7
21,370,397 '
0AIU0IION DIVIDED,
+/
8Y�/0 �}
`
^
'
TOTAL AMOUNITIOF TAX
.
117`30530.
69 �
64,627,50
251`500.50,
TO 86 K815L0fUK '
DEBT S00C[
(1)'TUE ' �ASS[SS| |8i
'
N[T
0N
2- 1 295,8 14,124
'
A BXEMPT —
--'
62�9O`228
^ _
. LESS yCU� A.V.
FKUM` YEAR,.
�1l761,6�U
_________-
NET TAXABLEVALUATlON0k
DEBT SERVICE `
� 2-1,137.039,719
.
C-ITY'OF PETALUMA
ANNUAL_ REDUCTION OF
OUTSTANDING
GENERAL 'OBLHAT ION
BOND DEBT
AS OF JUNE 30,,
1-991
1966
1973.
075
TOTAL
PRINCIPAL PAYMENT .
WATER POLLUiTION
REFUNDING OF .
LIBRARY
ANNUAL PRINCIPAL
.FISCAL YEAR ENDINGAUNE 30
CONTROL
1970 MUNICIPAL
ALL BONDS
IMPROVEMENTS
1991-92
100,000
60',000
35„000
1.95,000
1992-93
1.05,,OK
65,0001
40,000
210,000
1993-94
1'-10,,000I
'76, 000
40; 000
220,000
1994-95.
1,10,000:
750.00
45.,000
230,000 A
1995-96
Ii'5,000:
75,.000
45,:000
235,'000
1996-97
`120,000
50,000
170,000
1997-98
125,000'
55,000
180,000 `
1999-99
130,000'.
,55,'000
185,000
1997-00
60,000
60,000
TOTAL OUTSTANDING BONDS
915,000
345.,`000
425,,000
1,685`5000
'
'
^
` ^
CITY OF
.
NlN[ Y£88 SUMMARY OF
ASSESSED '0UT0H
.
-- S[NDC[
` AND DEBT
REQUIREMENTS
'
ET A
`
NET AMOUNT NEEDED
TWENTAGE
DEBT SERVICE
.P[kCEHTAC[
ASSESSED VALUATION
CHANGE FROM
TO BE RAISED BY
CHANGE FROM `
PK8p[8TY'TAX
CHANGE FROM
FOR DEBT SERVICE
PRl0RYEAR
PROPERTY TAXES
R81O8 YE AR
RATE (ALL -BONDS)
PRIOR YEAR
FY
1991'92
_________-________________-_-'-__--____
2'D7,039,DY
` 0.7%
251.509
~--'--
-2.5%
_ ____-____-____-_ ^'
� 0.0118
'12.4%
FY
1990'91
1.930.36.6,323
`
1L,6X
258.082
-2.4*
0.0134
'12.6%
FY
198Y-90
1,730,Y54,Y0]
6.4%
264.365
' 5.6%
0.003
'0.6%'
FY
1968 0
1,626.451'854
' 1-2.4%
250.349
'O.(*
0.0154
-11.0*
FYl987`08
1,447,425.789.
12.5%
250^405
-5.7%
0.0173
'17.67.
FY
1906-87
1.2�86[8,30.113
11+7%
265,529
ll.,07.
0.0210
5.0%
FY
105-86
' 1,151,580,111
D./%
239.285
15.1K^
0.000
-4.8%
FY
19814- 5
9/8.055.278
15.3%,
207,966
12.4%
0.010
'4.57.
FY
1983-84
848.14,480
7.[%
185.100
-53.0¢
0.00
'39.0%
,
'
