HomeMy WebLinkAboutResolutions - No. 88-115RESOLUTION NO. 88-115
RESOLUTION FIXING TAX RATE FOR THE CITY OF LODI FOR
FISCAL YEAR 1988-89
THAT, in accordance with the State of California Constitution,
Article XIII (A), Section 1 (b), the sum of Four Hundred Forty -Two
Thousand, Four Hundred Thirty -Three ($442,433.00) Dollars is hereby
fixed as the amount of revenue from property taxes necessary to support
the general obligation indebtedness for the City of Lodi for the fiscal
year of 1988-89.
NOW, THEREFORE, BE IT RESOLVED that the City Council
of the City of Lodi does hereby establish that the
tax rate for the City of Lodi for each One Hundred
Dollars of assessed valuation is hereby set for the
fiscal year 1988-89 as follows:
General obligation bond indebtedness, interest and
redemption, $.0281 per $100/AV.
This rate is in addition to the 1101 rate per Proposition 13
which allows the tax rate to exceed 1% for voter approved indebtedness
and further permits the City to set a tax rate to recover the amount of
bond debt service.
Dated: August 17, 1988
I hereby certify that Resolution No. 88-115 was
passed and adopted by the City Council of the City
of Lodi in a regular meeting held August 17, 1988
by the following vote:
Ayes: Council Members - Hinchman, Olson, Reid,
Snider & Pinkerton (Mayor)
Noes: Council Members - None
Absent: Council Members - None
Alice M. Reimche
City Clerk
88-115