HomeMy WebLinkAbout1998 - City of Ferndale 1998 Ordinance 1203RECEIVED
DEC 3 1 1998
ORDINANCE # 1203
W.G. Mditom
AN ORDINANCE OF THE CITY OF FERNDALE, WASHINGTON FIXING THE AMOUNT
OF REVENUE TO BE RAISED BY TAXATION FOR THE YEAR 1999.
WHEREAS the Ferndale City Council has properly given notice of the public hearings
held November 23 and November 30, 1998 to consider the City of Ferndale's current expense
budget for the 1999 calendar year, pursuant to RCW 84.55.120; and
WHEREAS the Ferndale City Council, after hearing, and after duly considering all
relevant evidence and testimony presented, has determined that the City of Ferndale requires an
increase in property tax revenue from the previous year, in addition to the increase resulting from
the addition of new construction and improvements to property, annexations, and any increase in
the value of state -assessed property, in order to discharge the expected expenses and obligations
of the City of Ferndale and in its best interest;
NOW, THEREFORE, be it ordained by the Council of the City of Ferndale as follows:
Section 1. That there be levied a "discretionary increase" of $26,167.72 , an increase of
3 % percent over the amount levied for collection in 1998 (which amount was $872,257.20),
plus an increase equal to the maximum amount allowed under the new construction provisions of
RCW 84.55.010 and plus the maximum allowable amount to be derived from state assessed
property and new annexations.
Section 2. That there further be levied the total amount of $127,923, at a rate per $1,000
of assessed valuation sufficient to provide the required sum, for the purpose of paying debt
service on the City of Ferndale 1998 U.T.G.O. Refunding Bonds issued to defease the 1990
Library G.O: Bonds.
Passed by a majority vote of the Ferndale City Council, while in regular session, this 7th day of
v M qmsajith, Mayor
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Roland IS tt, Clerk reasurer