CC Resolution No. 4010
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. , RESOLUTION N0. 4010
A RESOLUTION OF THE CITY COUNCIL OF.THE CITY OF CUPERTINO
SETTING TAX RATE FOR THE FISCAL YEAR 1975-1976
WHEREAS, the City Council of the~City of Cupertino has adopted a budget
for the fiscal year ending June 30, 1976; 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 1. That the rate of $0.211 per $100.00 assessed valuation be
the tax rate of the City of Cupertino for the fiscal year 1975-1976 and to
be applied to General Fund purposes.
Section 2. That the rate of $0.005 Per $100.00 assessed valuation be
the tax rate of the City of Cupertino for the fiscal year 1975-1976 and to ~
be applied to the redemption and interest expense of the City Hall Bonds.
Section 3. That the tax rate of $0.04~ per $100.00 assessed valuation
be the tax rate of the City of Cupertino for the fiscal year 1975-1976 and to
be applied to the redemption and interest expense of the Pa'r.k Borids.
Section 4. That the City Clerk is instructed to file a certified copy
of this resolution with the proper County authorities.
PASSED AND ADOPTED at a special meeting of the City Council of the City
of Cupertino on this 2~n~ day of A~~,gt,Gt , 1975, by the following
vote:
Vote Members of the City Council
AYES: ~rolich, Meyers,.Nellis~, Jackson
NOES: None
ABSENT: Sparks
ABSTAIN: None
ATTEST: APPROVED:
/s/ Wm. E. Ryder /s/ James E. Jackson
City Clerk Mayor, City of Cupertino
PAGE 2 OF 2
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1974-1915 Actual 1975-1916 Budget Estimate (Revised)_ 1975-1976 Actual Projection ,
Revenues Revenues Revenues
Debt Debt Debt
Assessments Gen. Furid Service Total Assessments Gen. Fund Service Total Assessments Gen. Fund Service Total
TAX RATE PER $100 A,V.
General Fund , $0.230 $0.211 $0.211
Parks Bond 0,050 0.043 0.043
City Hall Bond 0.030 0.005 0.005
$0.310 , $0.259 $0.259 ,
City of Cupertino PAGE 1 OF 2
. ASSESSED VALUATIONS AND TAX RATES ,
1975-1976
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1974~19J5 Actual 1975-1976 Budget Estimate (Revised)~ _ 1975-1916 Actual Pro~ection
Rewenues ~ Revenues Revenues
Debt Debt Debt
Assessments Gen, Fund 5ervice Total Assessments Gen. Fund Service Total Assessments Gen. rund Service Total
LOCALLY ASSESSED
Secured Property $85;~021,330 $195,549 $68,017 $263,566 $102,568,326 $216,420 $~+9;105 $265,525 $102,568,326 $216,419 $49,232 $265,651
Unsecured Property 18,624,480 42,837 14,900 57,731 22,314,400 47,085 10,71C 57,795 22,314,400 47,083 °10,711 57,794
Sub-Total $103,645,810 $238,386 $82,917 $321,303 $124,882,~26 $263,505 $59,815 $323,320 $124,882,726 $263,502 $59,943 $323,445
STATE ASSESSED
Public Utility Val- 3,039,070 6,985 2,431 9;4:16 3,342,970 7,055 1,610 8,725 3,272,520 6,905 1,570 8,475_.
uations ~
Total Local Val- ~106,684,880 $245,371 $85,348 $330,714 $128,225,696 $2J0,560 $61,485 $332,045 $128,155,246 $270,407 $61,513 $331,920
uations
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STATE SUBVENTIONS
Secured Business $ 3,835,046 $ 8,821 $ 3,068 $ 11,889 $ 3,903,325 $ 8,235 $ 2,075 $ 10,310 $ 3,903,325 $ 8,236 $ 1,874 $ 10,110
Inventory Ex-
emptions
Unsecured Bus. Inv. 1,526,600 17,316 6,022 23,338 6,587,430 14,530 3,165 17,695 6,581,430 13,900 3,162 17,062
I?xemptions
Sub-Total $ 11,363,646 $ 26,137 $ 9,090 $ 35,227 $ 10,490,755 $ 22,765 $ 5,240 $ 28,005 $ 10,490,755 $ 22,136 $ 5,036 $ 27,172
Homeowners Ex- 7,012,250 16,129 5,610 21,738 7,585,900 16,460 3,795 20,255 7,585,900 16,006 3,641 19,647
emptions
Total State Sub- $.18,375,396 $ 42,265 $14,700 $ 56,965 $ 18,076,655 $ 39,225 $ 9,035 $ 48,260 $ 18,076,655 $ 38,142 $ 8,677 $ 46,819
ventions
TOTAL ASSESSF.D VAL- $125,060,176 $ $ $ $146,302,3_51 $ $ $ $146,231,901 $ $ $
UATIONS
TOTAL REVENiJES RECEIVABLE
General Fund 287~636 287,636 309,185 309,785 308,549 ' 308,459
Parks Bond 62,530 b5,530 63,260 63,260 62,880 62,880
City Hall Bond 37,518 31,518 : 7,260 • 7,260 , 7,310 , 7,310
$287,636 $lOD,048 $381,684 $309,785 $70,520 $~80,305 $308,549 $70,190 $378,739