RESOLUTION 88-19358 RESOLUTION NO. 88-19358
A RESOLUTION ADOPTING THE TENTATIVE AD VALOREM MILLAGE
AT 9.966 MILLS GENERAL OPERATING PURPOSES WHICH IS 3.48%
GREATER THAN THE ROLL-BACK RATE OF 9.631; AND 3.705
MILLS FOR DEBT SERVICE FOR THE CITY OF MIAMI BEACH,
FLORIDA, FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 1988
AND ENDING SEPTEMBER 30, 1989.
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 1988/89, 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 proposed 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, 1988. The millage rate herein reflected
is 3.48% greater than the millage rate calculated at the roll -back
rate of 9.631 .
(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
proposed 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, 1988.
BE IT FURTHER RESOLVED BY THE CITY COMMISSION OF THE CITY OF MIAMI BEACH,
FLORIDA, that the total proposed millage rate for the City of Miami Beach,
Florida for FY 1988/1989 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 14th day of September, 1988.
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L,''' MAYOR
Attest by:
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City Clerk
Form Approved:
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City Attorney
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OFFICE OF THE CITY MANAGER CITY HALL
ROB W.PARKINS 1700 CONVENTION CENTER DRIVE
CITY MANAGER TELEPHONE: 673-7010
COMMISSION MEMORANDUM NO. Lh3f-R
DATE: September 14, 1988
TO: Mayor Alex Daoud -
Members of th- ' Ity Comm' sio /
Ili
FROM: Rob W. Parki s If A; -
•
City Manager ,/ 144
SUBJECT:
A RESOLUTION ADOPTING TENTATIVE AD VALOREM MILLAGE RATE AT 9.966
MILLS FOR GENERAL OPERATING PURPOSES WHICH IS 3.48% GREATER THAN THE
ROLLED-BACK RATE OF 9.631 MILLS; AND 3.705 MILLS FOR DEBT SERVICES
FOR FY 1988/89 SUBJECT TO A SECOND AND FINAL PUBLIC HEARING SCHEDULED
FOR SEPTEMBER 22, 1988
As provided for in the Florida Statutes, at the conclusion of the first public
hearing on the proposed tax rates and budgets for FY 1988/89, we are required
to adopt two resolutions: 1) to provide for tentative millage rates; and, 2) to
adopt tentative budgets for fiscal year 1988/89.
The first resolution adopts tentative millage rates for FY 1988/89 at 9.966 mills
for General Operating purposes and 3.705 mills for Debt Service. Although the
millage rate of 9.966 will be the same as the current year, the requirements and
definition of TRIM indicate a 3.48% tax increase over the calculated "roll -back"
rate of 9.631 mills. There is no calculated "roll -back" rate for Debt Service.
As the Resolution reflects, the millage 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.
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 January 1, 1988.
ADMINISTRATION RECOMMENDATION
The Administration recommends that the City Commission adopt the attached
resolution which provides for tentatively adopting 9.966 mills as the General
Operating and 3.705 mills as the Debt Service millages rates for FY 1988/89.
Final adoption is scheduled for September 22, 1988 following the second and final
public hearing.
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AGENDA .- _
ITEM A ,
DATE - ` ` 2 ?
ORIGINAL
RESOLUTION NO. 88-19358
(Adopting the tentative Ad Valorem Millage
at 9.966 Mills General Operating purposes
which is 3.48% greater than the roll-back
rate of 9.631; and 3.705 Mills for debt
service for the City of Miami Beach, Fla.
for the Fiscal Year beginning 10/1/88 and
ending September 30, 1989)