CC Resolution No. 3719
~ , -t
y' RESOLUTION N0. 3719
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
SETTING TAX RATES FOR THE FISCAL YEAR 1974-1975 ~
WHEREAS, the City Council of the City of Cupertino has adopted a budget
for the fiscal year ending June 30, 1975; and '
WHEREAS, it is necessary that a tax rate be established to raise the
revenue required for the operation of said budget;
NOW, THEREFORE, BE IT RESOLVED:
Section l. That the rate of 23.0~ per $100.00 assessed valuation be
the tax rate of the City of Cupertino for the fiscal year 1974-1975 and to
be applied to General Fund purposes.
Section 2. That the rate of 3.0~ per $100.00 assessed va:Luation be
the tax rate of the City of Cupertino for the fiscal year T974-1975 and to
be applied to the redemption and interest expense of the City Hall Bonds.
, Section~3.. That the tax rate of 5.0~ per $100.00 assessed valuation
be the tax rate of the City of Cupertino for the fiscal year 1974-1975 and
to be applied to the redemption and interest expense of the Park Bonds.
Section 4. That the City Clerk is instructed to file a certif ied copy
of this resolution with the proper County authorities.
PASSED AND ADOPTED at a regular meeting of the City Council of the
City of Cupertino on the 6th day of August , 1974, by the following
vote:
Vote Members of the City Council
. AYES: Frolich, Meyers, Nellis, Jackson
NOES: None
ABSENT: Sparks
ABSTAIN: None
ATTEST: APPROVED:
/s/ Wm. E. R,yder /s/ James E. Jackson
City Clerk Mayor, City of Cupertino
Pro Tempore
' , City of Cupertino PAGE 1 OF 2
ASSESSED VALUATIONS AND TAX RATES
1974-1975
1973-1974 Actual 1974-1975 Budget Estimate 1974-1975 Actual Projection
Revenues Revenues Revenues
Debt Debt Debt
Assessments Gen. Fund Service Total Assessments Gen. Fund Service Total Assessments Gen. Fund Service Total
LOCALLY ASSESSED
Secured Property $76,066,340 $114,953 $60,853 $235;806 $82,303,180 $189,299 $65,843 $255,142 $ 85,021,330 $195,549 $68,017 $263,566
Unsecured Property 11,116,380 ~25,568 8,893 34,461 11,116,380 25,568 8,893 34,461 18,624,480 42,837 14,900 57,731
Sub-Total $87,182,720 $200,521 $69,746 $270,267 $93,420,160 $214,867 $74,736 $289,603 $103,645,810 $238,386 $82,917 $321,303
STATE ASSESSED
Public Utility Val= 2,741,600 6,306 2,193 8,499 2,796,430 6,431 2,237 8,668 3,039,070 6,985 2,431 9,416
uations
Total Local Val- $89,924,320 $206,827 $71,939 $278,766 $96,216,590 $221,298 c$76,973 $298,271 $106,684,880 $245,371 $85,348 $330,719
uations
STATE SUBVENTIONS
Secured Business $ 2,767,094 $ 6,364 $ 2,214 $ 8,578 $ 2,767,094 $ 6,364 $ 2,214 $ 8,578 $ 3,835,046 $ 8,821 $ 3,068 $ 11,889
Inventory Ex-
emptions
Unsecured Bus. Inv. 2,396,160 5,511 1,917 7,428 2,396,160 5,511 1,917 7,428 7,528,600 17,316 6,022 23,338
Exemptions
Sub-Total $ 5,163,254 $ 11,875 $ 4,131 $ 16,006 $ 5,163,254 $ 11,815 $ 4,131 $ 16,006 $ 11,363,646 $ 26,137 $ 9,090 $ 35,227
Homeowners Ex- 6,539,750 15,041 5,232 20,273 6,539,750 15,041 5,232 20,213 7,012,250 16,128 5,610 21,738
emptions
Total State Sub- $11,703,004 $26,916 $ 9,363 $ 36,279 $11,703,004 $ 26,916 $ 9,363 $ 36,219 $ 18,375,896 $ 42,265 $14,700 $ 56,965
ventions
TOTAL ASSESSED VAL- $101,627,324 , " $107,919,594 • ~ $125,060,776 . '
UATIONS
TAX RATE PER $100 A. V,
General Fund $0.23 $0.23 $0.23
Parks Bond 0.05 0.05 0.05
City Hall Bond 0.03 0.03 0.03
Total $0.31 $0.31 $0.31
City of Cupertino PAGE 2 OF 2
' ASSESSED VALUATIONS AND TAX RATES
. ~ 1914-1975
' 1913-1974 Actual 1914-1975 Estimate 1974-1975 Actual Projection
Revenues Revenues Revenues
Debt Debt Debt
Assessments Gen. Fund Service Total Assessments Gen. Fund Service Total Assessments Gen. Fund Service Tatal
TOTAL REVENUES RECEIVABLE
General Fund $233,743 $ $233,743 $248,214 $ $248,214 $287,636 $ $287,636
Parks Bond 50,814 50,814 53,960 53,960 62,530 62,530
City Hall Bond 30,488 30,488 32,376 32,376 37,518 37,518
$233,743 $81,302 $315,045 $248,214 $86,336 $334,550 $287,636 $100,048 $381,684