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HomeMy WebLinkAbout8580 - Assessment District 50 - Balboa Island Street Lighting Districtis RESOLUTION NO. 8580 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH FIXING THE TAX RATE AND LEVYING A TAX UPON ALL OF THE TAXABLE PROPERTY WITHIN THE CITY OF NEWPORT BEACH WHICH IS TAXABLE THEREIN FOR MUNICIPAL PURPOSES AND LEVYING A SPECIAL ASSESSMENT TAX UPON THE TAXABLE PROPERTY LOCATED WITHIN ASSESSMENT DISTRICT NO. 50 (BALBOA ISLAND STREET LIGHTING DISTRICT) Pursuant to Section 1107 of the City Charter, Section 3.08.010 of the Newport Beach Municipal Code, Section 18168 of the Streets and Highways Code, the City Council of the City of Newport Beach DOES RESOLVE AND DECLARE as follows: SECTION 1. There is hereby levied upon all of the taxable property within the City of Newport Beach which is taxable for municipal purposes a tax for the purpose of raising the necessary money with which to carry on the various departments and obligations of the City of Newport Beach for the current fiscal year, 1975 -76. The rate of the tax hereby levied shall be fixed at the sum of $ 1.16 on each One Hundred Dollars ($100) of assessed value, said tax to be levied on said taxable property within the City of Newport Beach code areas as estab- lished by the Orange County Tax Assessor, designated and itemized for each fund as follows: General Fund $ .7932 Park and Recreation Fund $ .1139 Library Fund $ .1102 Retirement Fund $ .1427 SECTION 2. Pursuant to Section 18168 of the Streets and Highways Code of the State of California, a special assess- ment tax is hereby levied upon all of the lands, exclusive of improvements, excepting any lands owned by the City of Newport Beach, within Assessment District No. 50 (Balboa Island Street Lighting District). The rate of the tax hereby levied shall be fixed at the sum of $ .0396 on each One Hundred Dollars ($100) of assessed value, said tax to be levied on said taxable property with Code Area 7 -067. Said taxes when collected shall be paid into the City Treasury to the credit of the Special Lighting District No. 50 Account. • ATTEST: ADOPTED this 25th ty Clerk MID AS THE RI .. .. . CITY CLERK OR THE CITY OF N R4Y 0.',hC11 MM ;,'J6 2 8 1975 day of August , 1975. ` , DDO /bc 8/20/75