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<br />. <br /> <br />. <br /> <br />REOUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: <br /> <br />11/g/87 <br /> <br />Requested By: <br /> <br />R. Herrera <br /> <br />Department: Administration <br /> <br />Report <br /> <br />Resolution <br /> <br />x <br /> <br />Ordinance <br /> <br />Exhibits: Ordinance 1565 <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />On November 2, 1987, a public hearing was held regarding the <br />proposed tax rate for the City of La Porte. <br /> <br />The attached Ordinance 1565 adopts the following tax rate for FY <br />1987-88: <br /> <br />An Ad Valorem Tax at the rate of $.447 on $100.00 cash value <br />thereof, for maintenance and improvement of the City <br />Government of the City of La Porte <br /> <br />An Ad Valorem Tax at the rate of $.213 on $100.00 cash value <br />thereof, interest and sinking fund and principal and interest <br />accruing on all outstanding GO bonds and Certificates of <br />Obligation lawfully issued by the City of La Porte <br /> <br />The total tax rate is set at $.66 per $100.00 valuation and is <br />assessed on a ratio of 100 percent of the estimated market value. <br /> <br />Action Required by Council: Adoption of Ordinance 1565 <br /> <br />Availability of Funds: <br /> <br />General Fund <br />Capital Improvement <br />Other <br /> <br />Water/Wastewater <br />General Revenue Sharing <br /> <br />Account Number: <br /> <br />Funds Available: <br /> <br />YES <br /> <br />NO <br /> <br /> <br />, <br />Council A e da <br /> <br />/frB7 <br />DAT <br />