HomeMy WebLinkAboutResolutions - No. 86-129RESOLUTION NO. 86-129
RESOLUTION FIXING TAX RATE FOR THE CITY OF WDI FOR
FISCAL YEAR 1986-87
THAT, in accordance with the State of California Constitution,
Article XIII (A), Section 1 (b), the sum of Three Hundred Eighty -Three
Thousand, Five Hundred Twenty -Five ($383,525.00) 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 1986-87.
NOW, THERg'ORE, 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 1986-87 as follows:
General obligation bond indebtedness, interest and
redemption, $.0281 per $100/AV or a rate sufficient
to generate $383,525.00 based on the most recent
assessment roll.
This rate is in addition to the 1% 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 20, 1986
I hereby certify that Resolution No. 86-129 was
passed and adopted by the City Council of the City
of Lodi in a regular meeting held August 20, 1986,
by the following vote:
Ayes: Council Members - Hinchman, Olson, Snider,
and Reid (Mayor)
Noes: Council Members - None
Absent: Council Members - Pinkerton
Alice M. Reimche
City Clerk
86-129