RESOLUTION 87-18993 RESOLUTION No. 87- 18993
A RESOLUTION ADOPTING THE AD VALOREM MILLAGE
RATES OF 9.966 MILLS FOR GENERAL OPERATING WHICH
IS 4.11% GREATER THAN THE ROLL-BACK MILLAGE RATE
OF 9.573; AND 3.705 MILLS FOR DEBT SERVICE OF
THE CITY OF MIAMI BEACH, FLORIDA, FOR THE FISCAL
YEAR BEGINNING OCTOBER 1, 1987 AND ENDING
SEPTEMBER 30, 1988.
BE IT DULY RESOLVED BY THE CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, that, pursuant to the provisions of all
applicable laws, there be, and there is hereby, levied a tax for
the Fiscal Year 1987-1988, on all taxable and non-exempt real and
personal property located within the corporate limits of the City
of Miami Beach, Florida, as follows :
(a) For the purpose of operating the government and the
administration of the City and to provide funds for the support
and maintenance of City departments . Also included are
appropriate reserves and contingencies, which are not limited to
reserves for tax discounts and abatements of uncollected taxes .
The rate assigned for these purposes amount to 9 . 966 mills on the
assessed dollar valuation of all taxable, non-exempt real and
personal property located within the jurisdiction of the City of
Miami Beach, as certified by the Property Appraiser ' s Office of
Metropolitan Dade County, Florida in July, 1987 . The millage rate
herein reflected is 4 . 11% greater than the calculated roll-back
rate of 9 . 573 .
(b) For the purpose of providing payment on the principal and
interest portions of the General Obligation Bond Debt outstanding
and associated fees of the City as duly issued, which allow for
reserves for tax discounts and abatements for uncollected taxes .
The rate assigned for these purposes amount to 3 . 705 mills on the
assessed dollar valuation of all taxable, non-exempt real and
personal property located within the jurisdiction of the City of
Miami Beach, as certified by the Property Appraiser ' s Office of
Metropolitan Dade County, Florida in July, 1987 .
BE IT FURTHER RESOLVED BY THE CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, that the total millage rate for the City of
Miami Beach, Florida for FY 1987/1988 of 13 . 671 was fixed and
determined in the manner provided for by all applicable provisions
of the law, including the "Truth-in-millage" requirements ( Section
200 . 065) , and is in compliance therewith.
PASSED and ADOPTED this 16th day of September , 1987 .
YOR
Attest :
62,4„
City Clerk
FORM APPROVED
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Date
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OFFICE OF THE CITY MANAGER CITY HALL
ROB W.PARKINS 1700 CONVENTION CENTER DRIVE
CITY MANAGER
TELEPHONE: 673-7010
COMMISSION C0
MEMORANDUM NO. .-
DATE: September 1.6_,._..9 8 7
TO: Mayor Alex Dao .nd
Members of e City Co •FR4.1/17k
OM: Rob W. Parks
City Manager
SUBJECT: A RESOLUTION ADOPTING THE AD VALOREM MILLAGE RATES OF
9.966 MILLS FOR GENERAL OPERATING WHICH IS 4.11%
GREATER THAN THE ROLLBACK MILLAGE RATE OF 9.573; AND
3.705 MILLS FOR DEBT SERVICE OF THE CITY OF MIAMI
BEACH, FLORIDA, FOR THE FISCAL YEAR BEGINNING OCTOBER
1, 1987, AND ENDING ON SEPTEMBER 30, 1988.
The attached resolution adopts the Ad Valorem millage rates and
levies taxes upon real property in Miami Beach for the Fiscal Year
beginning October 1, 1987 and ending September 30, 1988. These
rates are submitted for Commission approval in accordance with the
laws and regulations of the State of Florida (Section 200. 065) and
Metropolitan Dade County.
As the resolution reflects, the millage and tax rates have been set
at values sufficient to support and maintain the general operations
of the City, as well as for appropriate reserves for contingencies.
The resolution also authorizes the establishment of the Debt
Service millage rate which will be used to pay the principal and
interest due on all outstanding General Obligation bond issues and
associated fees for the City of Miami Beach. These rates had been
adopted as the proposed millage rates for FY 1987/88 at the public
hearing held on September 9, 1987. Adoption of this resolution
finalizes the Ad Valorem millage rates for the fiscal year
beginning October 1, 1987.
These rates have been established in accordance with the property
appraiser' s valuation of all properties located within the
jurisdiction of the City of Miami Beach as of July, 1987 .
ADMINISTRATION RECOMMENDATION:
The Administration recommends that the City Commission adopt the
attached resolution adopting the Ad Valorem millage rates of 9. 966
mills for general operating which is 4. 11% greater than the
rollback millage rate of 9.573 ; and 3 .705 mills for debt service
effective October 1, 1987 for Fiscal Year 1987/88. Adoption of
this Resolution constitutes the establishment of the final Ad
Valorem millage rates for FY 1987/88.
WP:PFL:apc
32
AGENDA R- 3 -RI
ITEM •
DATE 9_
Ito-
ORIGINAL
RESOLUTION NO. 87-18993
(Adopting the Ad Valorem Millage rates of
9.966 mills for general operating which
is 4.11% greater than the roll-back mill-
age rate of 9/573; and 3.705 mills for
debt service of the City of Miami Beach,
Florida, for the fiscal year beginning
October 1, 1987 and ending September
30, 1987)