Ordinance 2550-01 - Laserfiche WebLink

r E .a lifidg? ORDINANCE NO. 2550-Q1 AN ORDINANCE levying the general taxes for the City of Everett for fiscal year commencing January 1,2002, on all taxable property, both real and personal, subject to taxation thereon, for the purpose of raising a portion of the revenue to carry on City operations for the ensuing year, as required by the Charter of the City of Everett and the laws of the State of Washington WHEREAS,the City Council of the City of Everett duly and regularly adopts as required by law the estimate of the amounts required to meet the public expense of said City for the ensuing year and the amount to be raised by taxation in said City for said ensuing year from sources other than direct taxation; and WHEREAS,the City Council of the City of Everett is considering its budget for the calendar year 2002; and WHEREAS,the City Council, in the course of considering the budget for 2002, is reviewing all sources of revenue and is examining all anticipated expenses and obligations; and WHEREAS,the qualified electors of the City voted approval in 2000 of an additional regular property tax in an amount equal to a maximum of$0.50 per thousand dollars of the assessed valued of property in the City for funding an emergency medical services program; and WHEREAS,RCW 84.55.120 as amended by § 209 Referendum 47 (Chapter 3, § 209, Laws of Washington 1997) calls for the adoption of a separate ordinance or resolution specifically authorizing the increase in terms of both dollars and percentage in property tax revenue; and WHEREAS,the general property tax proposed herein is limited by statute to $3.60 per thousand dollars of assessed valuation, and such limitation will have the effect of reducing the potential revenues; and WHEREAS, the City of Everett will be required to pay the sum of$173,803 during the year 2002 upon its General Obligation 1982 Housing Authority Bonds for payment of principal and interest(Fund 210 Program 239 as refunded under Ordinance 1987-94 passed January 19, 1994, which amount when taken with the 1988 bond fund payment equals $824,641); and