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• <br />C. <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br />AGENDA DATE REQUESTED September 23, 1991 <br />REQUESTED BY Jeff Litchfield DEPARTMENT Director of Finance <br />REPORT RESOLUTION X ORDINANCE <br />EXHIBITS: Ordinance <br />SUMMARY AND RECOMMENDATION <br />The Fiscal Year 1991-92 Budget was built around a tax rate of .71 cents per <br />hundred dollar valuation. <br />A breakdown of the tax rate is as follows: <br />General Fund .505 per hundred dollar valuation <br />Debt Service .205 per hundred dollar valuation <br />The effective tax rate for the new year is .7587 cents per hundred dollar <br />valuation. The proposed rate for the new year of .71 cents per hundred dollar <br />valuation represents a decrease from the effective rate of 6.16. This is the <br />second year in a row that the City has been able to adopt a tax rate that is <br />below the effective rate. <br />ACTION REQUIRED BY COUNCIL: <br />Approve Ordinance establishing the tax rate for Fiscal Year 1990-91 at <br />.71 cents per hundred dollar valuation. <br />AVAILABILITY OF FUNDS: <br />GENERAL FUND UTILITY FUND <br />ACCOUNT NUMBER: N/A FUNDS AVAILABLE: <br />OTHER <br />YES NO <br />APPROVED FOR CITY COUNCIL AGENDA <br />ROBERT T HERRERA DATE <br />CITY MANAGER <br />