RESOLUTION 90-20091 RESOLUTION NO. 90-20091
A RESOLUTION ADOPTING THE TENTATIVE AD VALOREM MILLAGE
OF 9.966 MILLS FOR GENERAL OPERATING PURPOSES WHICH IS
10.72% GREATER THAN THE CALCULATED "ROLLED-BACK" RATE OF
9.001; AND 3.200 MILLS FOR DEBT SERVICE FOR THE CITY OF
MIAMI BEACH, FLORIDA, FOR FISCAL YEAR 1990/91 SUBJECT TO
A SECOND PUBLIC HEARING ON SEPTEMBER 26, 1990.
BE IT DULY RESOLVED BY THE CITY COMMISSION OF THE CITY OF MIAMI BEACH,
FLORIDA, that, pursuant to the provisions of all e:pplicable laws, there be, and
there is hereby, levied a tax for the Fiscal Year 1990/91, on all taxable and
non-exempt real and personal property located within the corporate limits of the
City of Miami Beach, Florida, subject to a second public hearing scheduled for
September 26, 1990.
(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 1990. The millage rate herein
reflected is 10.72% greater than the calculated "rolled-back" rate of
9.001 .
(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 3.200 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 1990.
BE IT FURTHER RESOLVED BY THE CITY COMMISSION OF THE CITY OF MIAMI BEACH,
FLORIDA, that the proposed millage rates for the City of Miami Beach, Florida for
F 1990/91 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 12th day of September, 1911.. i
MAYOR
Attest by:
/17
City Clerk
Form Approved:
9
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. 7g-qo
DATE:
September 12, 1990
TO: Mayor Alex Dao • and
's ion
Members of t, - City Co �
FROM: Rob W. Parks•
I irey.1
City Manager er i'
SUBJECT: A RESOLUTION ADO'TING TENTATIVE AD VALOREM MILLAGE RATE AT 9.966
MILLS FOR GENERAL OPERATING PURPOSES WHICH IS 10.72% GREATER THAN
THE ROLLED-BACK RATE OF 9.001 MILLS; AND 3.200 MILLS FOR DEBT
SERVICE FOR FY 1990/91 SUBJECT TO A SECOND AND FINAL PUBLIC HEARING
SCHEDULED FOR SEPTEMBER 26, 1990
As provided for in the Florida Statutes, at the conclusion of the first public
hearing on the proposed tax rates and budgets for FY 1990/91, the City is
required to adopt two resolutions: 1) to provide for tentative millage rates;
and, 2) to adopt tentative budgets for fiscal year 1990/91 .
The first resolution adopts tentative millage rates for FY 1990/91 at 9.966 mills
for General Operating purposes and 3.200 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 10.72% tax increase over the calculated "roll -back"
rate of 9.001 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, 1990.
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 3.200 mills as the Debt Service millage rates for FY 1990/91 .
Final adoption is scheduled for September 26, 1990 following the second and final
public hearing.
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1
AGENDA '
ITEM
DATE Q127O_ r
ORIGINAL
RESOLUTION NO. 90-20091
Adopting the tentative ad valorem millage
of 9/966 mills for general operating pur-
poses which is 10. 72% greater than the
calculated "Rolled-Back" rate of 9.001;
and 3. 200 mills for debt service for the
City of Miami Beach, Florida, for fiscal
year 1990/91 subject to a second public
hearing on September 26, 1990.