Resolution No. 4880 - Laserfiche WebLink

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RESOLUTION NO. 4880 A RESOLUTION ADOPTING THE BUDGET, MAKING APPROPRIATIONS, DETERMINING, LEVYING AND CATEGORIZING THE ANNUAL AD VALOREM PROPERTY TAX LEVY FOR THE CITY OF EUGENE FOR THE FISCAL YEAR BEGINNING JULY 1, 2006, AND ENDING JUNE 30, 2007 The City Council of the City of Eugene finds that Adopting the Budget and Making Appropriations is necessary under ORS 294.305 to 294.565. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, A Municipal Corporation of the State of Oregon, as follows: Section 1. That the budget for the City of Eugene, Oregon, for the year commencing July 1,2006 and ending June 30, 2007, as set forth in attached Exhibit "A" is hereby Adopted. Section 2. That the City Council of the City of Eugene, Oregon makes Appropriations for the purposes as set forth in attached Exhibit "A" and authorizes the inter fund loans described in Exhibit "C". Section 3. That a total levy in the amount of$7.0058 per $1,000 of Assessed Value be made against all taxable property within the City of Eugene in general and a total levy in the amount of$0.86 per $1,000 of Assessed Value be made against all taxable property within the City of Eugene for Youth and School Services Local Option Levy as of 12:01 am July 1, 2006, together with a Library Local Option Levy of $4,900,000 and a Bonded Debt Levy of $3,720,046 for the purpose of deriving funds necessary to carry on the different programs and to meet the expenses of the government of the City of Eugene for the fiscal year beginning July 1, 2006, and ending June 30, 2007; and to create and provide sinking funds and interest funds for the various outstanding bonds and obligations of the City. Section 4. That the following allocation and categorization subject to the limits of section 11 b, Article XI of the Oregon Constitution constitute the above levy: General Fund Library Local Option Levy Youth & School Services Local Option Levy* Bonded Debt Fund Subject to the General Government Limitation $7.0058 per $1,000 of Assessed Value $4,900,000 $0.86 per $1,000 of Assessed Value $0 Excluded from the Limitation $0 $0 $0 $3,720,046 *The Youth and School Services Levy will be certified under the $10 general government tax limitation in the event that the Supreme Court rules in the City's favor in the Urhausen v. City of Eugene case prior to September 1. If the Supreme Court has not decided by that date, or if the ruling upholds the Tax Court decision, the levy would be certified as determined by the Tax Court ruling.