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WHEREAS, on May 19, 1987, the qualified electors of the City voted approval of a
<br /> proposition to levy regular property taxes for 20 years not to exceed $0.228 per
<br /> thousand dollars of assessed value for the purpose of expanding the main library and
<br /> constructing a branch library, as approved and ratified by the Legislature in Chapter 17,
<br /> Laws 1991 1st Ex. Sess.; and
<br /> WHEREAS, the City of Everett will be required to pay the sum of$172,679 during the
<br /> year 1999 upon its General Obligation 1982 Housing Authority Bond, issued December
<br /> 1, 1992 (Fund 210, Program 239 as refunded under Ordinance 1987-94 passed
<br /> January 19, 1994, which amount when taken with the 1988 bond fund payment equals
<br /> $818,386) for payment of principal and interest; and
<br /> WHEREAS, the City of Everett will be required to pay the sum of$645,707 during the
<br /> year 1999 upon its General Obligation 1988 Senior Housing/Center Bonds, issued July
<br /> 1, 1998 (Fund 210, Program 239 as refunded under Ordinance 1987-94 passed
<br /> January 19, 1994 which amount when taken with the 1982 bond fund payment equals
<br /> $818,386) for payment of principal and interest,
<br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN:
<br /> Section 1: That there be, and hereby is, levied upon real and personal property in
<br /> the City of Everett, subject to taxation thereon, a general property tax for
<br /> municipal purposes for the ensuing year commencing on January 1, 1999
<br /> as follows:
<br /> Regular Property Tax Levy (including Library Levy Lid Lift) - Based on the
<br /> finding of substantial need by the Everett City Council, the 1998 property
<br /> tax levy for collection in 1999 is set at $25,260,146, which includes an
<br /> increase of$1,429,819, which is an increase of six percent, plus any
<br /> additional dollar amount calculated by multiplying the increase in
<br /> assessed value resulting from new construction, improvements to
<br /> property and any increase in the assessed value of state-assessed
<br /> property by the regular property tax levy rate of the preceding year of
<br /> $3.60 per thousand dollars of assessed valuation, plus the levy for an
<br /> additional dollar amount approved by the electors of the City of Everett on
<br /> May 19,1987, at a rate not to exceed $0.228 per thousand dollars of
<br /> assessed value, for the purpose of expanding the main library and
<br /> constructing a branch library, as approved and ratified by the Legislature
<br /> in Chapter 17, Laws 1991 1st Ex. Sess.
<br /> Emergency Medical Services - Based on the finding of substantial need by the
<br /> Everett City Council, the 1998 property tax levy for collection in 1999 is
<br /> set at $3,017,184, which includes an increase of$170,784, which is an
<br /> increase of six percent, plus any additional dollar amount calculated by
<br /> multiplying the increase in assessed value resulting from new
<br /> construction, improvements to property and any increase in the assessed
<br /> value of state-assessed property by the regular property tax levy rate of
<br /> the preceding year of$.43 per thousand dollars of assessed valuation.
<br /> 2
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