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Home My WebLink About1979-08-21; City Council; 5964; Tax Rates for Library and Sewer Bond Funds' 1a� CITY OF CARLSBAD AGENDA NO. S 9 G y Initial: - • Dept.Hd. DATE: AUGUST 21, 1979 C. Atty. DEPARTMENT: FINANCE C. Mgr. S 7eCt: ESTABLISHING THE TAX RATES FOR FISCAL YEAR 1979-80 FOR THE LIBRARY AND SEWER BOND FUNDS. Statement df " the` Matter Section S1S08 of the Government Code requires that the council fix the amount of revenue from,property taxes necessary to pay the bonded or other indebtedness of the city for the current fiscal year. Resolution No. ,T?_Q_L prepared in accord with ,the budget for this year -as previously approved by the council satisfies that requirement. The city is'also'required before September 1st to fix tiee rate of tax 4n an amount sufficient to meet the amounts specified -in • •Resolution No. ,,��• Resolution No. _9O9 sets a tax rate of $0.06 pei' 100 assessed -value for most�af the city and a ` d satisfies rate of'$0.00 fbr the -La Costa annexation area an tilat requirement. The setting of -the Library,Bond tax rate at $0.00 is possible due to the amount of the beginning fun%; balance for 1979-8�. This beginning balance should be able to fund the current and possibly several future years debt'service payments. It should. be noted that the council. is not eliminating the tax rate for Library Bonds, but is establishing a $0.,00 rate Which will be adjusted annually as required to meet Future debt service: s - payments- MEIBI•r ` Resolution No. :� fixing the amount of revenue from property taxes'necessary to support the departments of the city and pay the bonded indebtedness for fiscal.year 1979-80. s Resolution No• po? setting -the tax rates for the city for s fiscal year 197 U._ •RECOMMENDATION , • I'f council concurs, adopt Resolutians No..�0�'' and No. �c�_ AGENDA BILL NO. 5964 Page 2 Council Action: 8-•21-79 Council adopted Resolution 5908, fixing the amount of revenue from property taxes necessary to pay the bonded indebtedness of the "1962 sewer bonds, Series A, B and 0 and 111966 library bonds" for 1979-80 fiscal year; and Adopted Resolution 5909, setting the tax rate for the 1979-80 fiscal year. 0t- C R,9e y s w 1200 ELM AVENUE CARLSBAU, CALIFORNIA 92008 August 24, 1979 San Diego County Auditor 1600 Pacific Highway San Diego, CA 92101 Pursuant to Government Code Section 51511, enclosed please find two certified copies of Resolution No. 5909, setting the tax rate for the City of Carlsbad for the 1979-80 fiscal year, and which was adopted by the Carlsbad City Council at their meeting of August 21, 1979. If you have any questions in this regard, please do not hesitate to contact this office. ALETHA L. RAUTENKRANZ City'Clerk ALR:krs Enclosures (2) TELEPHONE: (714) 729-1181 i' i �i I' HI♦ t I RESOLUTION NO. ��08 2 A RESOLUTION OF THE CITY COUNCIL OF THE; CITY OF CARLSBAD, CALIFORNIA, FIXING THE 3 AMOUNT OF REVENUE FROM PROPERTY TAXES NECESSARY TO PAY TIIE BONDED INDEBTEDNESS 4 OF THE 111962 SEWER BONDS, SERIES A, B, AND C" AND 111966 LIBRARY BONDS" FOR 5 1979-80 FISCAL YEAR. ; 6 WHEREAS, the City Council of the City of Carlsbad annually i 4 7 fix as the amount of revenue required from property taxes to , 8 fund the cit- debt service funds, and. 9 WHEREAS, the annual revenue requirements within each bond 10 fund are dependent upon the beginning balance of each fund, and , 11 WHEREAS, the beginning balance of the Library Bond fund 12 is sufficient to fund the Library Bond requirement during the 13 1979-80 fiscal year, and a revenue of approximately $130,000 14 will be necessary to fund the Sewe Bond requirements for the I t 15 1979-80 fiscal year; 1.6 NOW, THEREFORE, BE IT RESOLVED by the City Council of the 1.7 City of Carlsbad as follows: 18 Section 1: The City Council of the City of Carlsbad, 19 pursuant to Section 51508 of the Government Code of State of 20 California, does hereby fix the amount of revenue from property 21 taxes necessary to pay the bonded indebtedness of the "City of ` 22 Callsbad, 1966 Library Bonds" for the fiscal year commencing i 23 July 1, 1979, and ending June 30 198Q, be in the amount 0.00. 3 24 Section 2: The City Council of the City of Carlsad, pursuant 25 to Section 51508 of the Government Code of the State of California, 26 does hereby fix the amount of revenue from property taxes necessary t 27 to pay the bonded indebtedness of the "City of Carlsbad 1962 and C" for the fiscal year commencing b; 28 Sewer Bonds, Series A, B, �: a 1 July 1, 1979, and ending June 30, 1980, to be in the amount of 2 $130,000. Section 3: That the total amount of revenue from property 3 y for all purposes pursuant to Section 51508 of 4 taxes necessar i Code of the Sate of California, and of sections 5 the Government 8 1 and 2 hereinabove is $130,000. 7 Section 4: The City Clerk shall certify to I Ih e Passage of 8 this resolution and cause the same to be published, as required 9 by Section 36936.1 of the Government Code, once within fifteen 10 (15) days of its passage in the Carlsbad Journal, a newspaper 11 of general circulation printed and published in the City of 12 Carlsbad. ND ADOPTED at a regular meeting of the 13 PASSED, APPROVED A 14 City Council on the 21st day of August, 1979, by the following 15 vote, to wit: 16 AYES: Councilmen eC Packard, Skotnicki ckard,Skotnicki, Anear and Councilwoman 17 NOES: None 18 ABSENT: Councilman Lewis 19 N LD P CK RD, MAYOR 20 ATTEST: - 21 22 E'PHA L. ItAU'lEi KRANZ, CITY CL' 23 24 (SEAL) 25 xxxx 26 xxxx N7 xxxx 2. 28 i i' f+ 1 RESOLUTION NO. 59d9 A RESOLUTION OF THE CITY COUNCIL OF THE 2 CITY OF CARLSBAD, CALIFORNIA, SETTING THE , TAX RATE FOR 'PHI; 1979-80- FISCAL YEAR.] 3 _ — d' WHEREAS, the City Council. of the City of Carlsbad annually 5 fixes the property tax rates for the city debt service funds,. g and 7 igHEREAS, the City Library Bond fund has accumulated a 8 sufficient balance to support the annual debt service requirement 9 for 1979-80, and j WHEREAS, the City Council may set a tax rate of $0.00 for 10 � 11 the Library Bond fund until such time as additional revenues are 12 necessary for debt payments, and 13 WHEREAS, the 1962 Sewer Bond fund shall require a tax rate 14 of $0.06 for fiscal year 1979-80 to fund the debt payments. NOW, THEREFORE, BE IT RESOLVED by the City Council of the 15 18 City of Carlsbad, as follows: Sect 1: For the fiscal year 1979-80, commencing July 1, 19 9 17 on each 18 there is hereby assessed, levied, and ordered collected up property within general tax 19 $100.00 of assessed value of taxable prop within 20 district no. 1, which shall cori'sist of all taxable property property in general dist.•ic, 21 the City of Carlsbad except the taxable 22 no. 2 as described below, taxes in the following listed amounts 23 and for the following listed purposes: j RATE 2d FUND LIBRARY BOND INTEREST & REDEMPTION .00 25 26 JT. SEWER BOND INTEREST & REDEMPTION .06 TOTAL TAX RATE, GENERAL TAX .06 27 DISTRICT N0. 1 • 28 V, I I tl II The total tax rate for general tax district no. 1 shall be the 2 sum of $0.06 for each $100.00 assessed valuation on all taxable 3 property in said district. Section 2: For the fiscal year 1979-80, commencing July 1, 19i9, 4 - 5 there is hereby assessed, levied and ordered collected upon each g $100.00 assessed value of taxable property within general tax 7 district no. 2, being the La Costa annexation as described in 8 Ordinance No. 1173 of the City of Carlsbad, taxes in the following 9 listed amounts and for the following listed purposes: RATE 10 FUND 11 LIBRARY BOND INTEREST .00 REDEMPTION 12 TOTAL TAX RATE, GENERAL TAX .00 ,13 DISTRICT N0. 2 lq The total tax rate for general tax district no. 2 shall be 15 the sum of $0.00 for each $100.00 assessed valuation on all taxable 16 property in said district. 17 Sect___ ion_3: This resolution is a resolution fixing the rates _ 18 of taxes to be levied in the City of Carlsbad for the fiscal year 19 1979-80 pursuant to the provisions of Section 51511 of the 20 Government Code of the State of California and for providing the 21 county auditor, as required by said section annually before 122 September 1, 1979, the rates of taxes to be adopted. 23 section A: The City Clerk shall certify to the passage of -24 this resolution and cause the same to be published, as required 25 by Section 36936.1 of the Government Code, once within fifteen (1S) 26 days of its passage in the Carlsbad Journal, a newspaper of 271 general circulation printed and published in the City of Carlsbad 28 and shall furnish two certified copies of this resolution to the i■ 2. 1 county auditor of the County of San Diego pursuant to Government 4 2 Code Section 51511. 3 PASSED, APPROVED AND ADOPTED at a regular meeting of the q 4 City Council on the 21st day of August, 1979, by the following 5 vote, to wit: 6 AYES: Councilmen Packard, Skotnicki, Anear and Councilwoman Casler 7 NOES: None 8 ABSENT: Councilman Lewis 9 ` N LD . PACKARD, �SAYOR 10 ATTEST: 11 12 /�_�d�MYCLL U'TENK N� RA 13 LETHA L. (SEAL) 14 15 F r' 16 17 18 19 € 20 E 21 22 23 24 25 '26 27 28 3.