HomeMy WebLinkAboutORD 5111CITY OF RENTON, WASHINGTON
ORDINANCE NO. 5111
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON,
ESTABLISHING THE PROPERTY TAX LEVY FOR THE YEAR 2005
FOR BOTH GENERAL PURPOSES AND FOR VOTER APPROVED
BOND ISSUES.
WHEREAS, the City of Renton has met and considered its budget for the calendar year
2005; and
WHEREAS, the City of Renton, after hearing and duly considering all relevant evidence
and testimony presented, determined that the City of Renton requires a regular levy in the
amount of $21,200,000, which includes an increase in property tax revenue from the previous
year, and amounts resulting from the addition of new construction and improvements to property
and any increase in the value of state-assessed property, and amounts authorized by law as a
result of any annexations that have occurred and refunds made, in order to discharge the
expected expenses and obligations of the district and in its best interest; and
WHEREAS, the City of Renton also has a voter-approved property tax levy for Senior
Housing Bonds and the debt service requirement on those bonds is $520,000 in 2005; and
WHEREAS, the City must levy this amount in order to discharge the expected expenses
and obligations of the bond;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON, DO ORDAIN AS FOLLOWS:
SECTION I. The regular property tax levy is hereby authorized for the 2005
levy in the amount of $21,200,000, which is a percentage increase of 2.5 percent from the
previous year.
ORDINANCE NO. 5111
SECTION II. In addition, the City of Renton requires a levy of $520,000 for the
purpose of paying debt service on voter approved Bonds for Senior Housing.
SECTION in. The total property tax levy for the City of Renton shall be
$21,720,000.
This increase is exclusive of additional revenue resulting from the addition of new
construction and improvements to property and any increase in the value of state assessed
property, and any additional amounts resulting from any annexations that have occurred and
refunds made.
SECTION IV. This ordinance shall be effective upon its passage, approval, and
30 days after publication.
PASSED BY THE CITY COUNCIL this 20th day of December , 2004.
Bonnie I. Walton, City Clerk
APPROVED BY THE MAYOR this 20th day of December _, 2004.
Approve^; to form
~iwtL fculh? - i/)Lud^
Kathy Keolker-Wheeler, Mayor
Lawrence J. Warreni-C-ity Attorney
Date of Publication: 12/24/2004 ( summary)
ORD.l 148:1 l/18/04:ma