HomeMy WebLinkAboutORD 5168CITY OF RENTON,WASIllNGTON
ORDINANCE NO.5168
AN ORDINANCE OF THE CITY OF RENTON,WASHINGTON,
AMENDING AND REESTABLISHING THE PROPERTY TAX LEVY
FOR THE YEAR 2006 FOR BOTH GENERAL PURPOSES AND FOR
VOTER APPROVED BOND ISSUES.
WHEREAS,the City ofRenton has met and considered its budget for the calendar year
2006;and
WHEREAS,the City Council adopted Ordinance No.5167 establishing the property tax
levy for the year 2006;and
WHEREAS,new information was made available to the Council prior to the ordinance's
adoption,which changed the figures in Ordinance No.5167,requiring an amendment;and
WHEREAS,this ordinance reconciles the figures in the ordinance with those presented
to the Council;and
WHEREAS,the City ofRenton, after hearing and duly considering all relevant evidence
and testimony presented,determined that the City ofRenton requires a regular levy in the
amount of $22,209,409,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 City and in its best interest;and
WHEREAS,the City ofRenton also has a voter-approved property tax levy for Senior
Housing Bonds,and the debt service requirement on those bonds is $514,100 in 2006;and
WHEREAS,the City must levy this amount in order to discharge the expected expenses
and obligations ofthe bond;
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ORDINANCE NO.5168
NOW,THEREFORE,THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON,DOES ORDAIN AS FOLLOWS:
SECTION I.The regular property tax levy is hereby authorized for the 2006 levy in
the amount of $22,209,409,which is a percentage increase of 1 percent from the previous year
plus amounts for new construction and annexations.
SECTION II.In addition,the City of Renton requires a levy of$514,100 for the
purpose of paying debt service on voter approved Bonds for Senior Housing.
SECTION III.The total property tax levy for the City of Renton shall be $22,723,509,
This increase is inclusive of 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 immediately upon its passage and
approval.
PASSED BY THE CITY COUNCIL this 5th day of_---=D--=e....::.c....::.e_m-=-b-=-er-'--__,2005.
Bonnie 1.Walton,City Clerk
APPROVED BY THE MAYOR this 5th day of_--=D:.....:e:.....:c:.....:~_=m-=-b-=-e..:::...r ,2005.
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Kathy K olker-Wheeler,Mayor
Date of Publication:12/9/2005 (summary)
ORD.1239:12/2/05:ma
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