CC Resolution No. 4237 • . RESOLUTION N0. 4237
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUP~RTINO
SETTING TAX RATE FOR THE FISCAL YEAR 1976-1977
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T•THER~AS, the City Council of the City of Cupertino has adopted a budget
for the fiscal year ending June 30, 1977; and
WHEREAS, it is necessary that a tax rate be established to raise the
revenue required for the operation of said budget;
NOW, THEREFOR~, BE IT RESOLVED:
Section l. That the rate of $0.180 per $100.00 assessed valuation be
the tax rate of the City of Cupertino for the fiscal year 1976-1977 and to
be applied to General Fund purposes.
Section 2. That the rate of $0.019 per $100.00 assessed valuation be
the tax rate of the City of Cupertino for the fiscal year 1976-1977 and to
be applied to the redemption and interest eYpense of the City Hall Bonds.
Section 3. That the tax rate of $0.040 per $100.00 assessed valuation
be the tax rate of the City of Cupertino for the fiscal year 1976-1977 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 certified 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 this 16th day of,,.[~uQtusti , 1976, by the following
vote:
Vote Members of the City Council
AYES: Frolich, Jackson, 0'Keefe, Meyers
NOES: None
ABSENT: Nellis
ABSTAIN: None
ATTEST: APPROVED:
/s/ Wm. E. Ryder /s/ P.obert [J. Mevers
City Clerk Tiayor, City o£ Cupertino
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City of Cupertina PAGE 1 OF 2
ASSESSED VALUATIONS AND TAX RATES
1976-1917
1975-1976 Actual 1976-1977 Budget Estimate (Revised) 1976-1977 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 $102,568,326 $216,419 $49,232 $265,651 $121,041,902 $236,043 $71,418 $307,461 $121,041,902 $217,886 $11,418 $289,304
Unsecured Property 22,314,400 47,083 10,711 57,794 21,011,740 52,789 15,972 68,761 21,071,140 48,729 15,972 64,701
Sub-Total $124,882,726 $263,502 $59,943 $323,445 $148,119,642 $288,832 $87,390 $376,222 $148,119,642 $266,615 $87,390 $354,Q05
STATE ASSESSED ~
Public Utility Val-
uation, . 3,272i520 ~6,905 1,570 8,475 3,524,504 6,872 2,080 8,952 3,553,090 6,395 2,096 8,491
Total Local Val- $128,155,246 $270,407 $61,513 $331,920 $151;644,146 $295,704 $89,470 $385,114 $151,672,732 $273,010 $89,486 $362,496
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STATE SUBVENTIONS
Business Inventory
Exemptions
Secured ~ $ 3,903,325 8,236 $ 1,874 $ 10,110 $ 4,253,499 $ 8,294 $ 2,509 $ 10,803 $ 4,253,499 $ 7,656 $ 2,509 $ 10,165
Unsecured 6,587
430 13,900 3,162 17,062 7,813,910 15,231 4,610 19~847 7,813,910 14,065 4,610 18,675
Sub-Total $ 10,490,755 $ 22,136 $ 5,036 $ 27,172 $"12;Ob7;409 $ 23,531 $ 7,119 $ ~0,650 $ 12,067,409 $ 21,721 $ 7,119 $ 28,840
Homeowners Exemptions 7,585,900 16,006 3,641 19,647 7,984,900 15,570 4 111 20,281 7,984,900 14,372 4,711 19,083
Total State Sub- $ 18,076,655 $ 38,142 $ 8,677 $ 46,819 $ 20,052,309 $ 39,101 $11,830 $ 50,931 $ 20,052,309 $ 36,093 $11,830 $ 41,923
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TOTAL ASSESSED VAL=
UATIONS $146,231,901 $171,696,455 $17T,725,041
TOTAL REVENUES RECEIVABLE
General Fund $308,549 $ $308,549 $334,805 $ $334,805 $309,103 $ $309,103
Parks Bond 62,880 62,880 68,678 68,678 68,690 68,690
32;626 32,626
City Hall Bond 7,310 7,310 32,622 32,622
Total $308,549 $701190 $318,739 $334,805 $101 300 $436,105 $309,103%$101;316 $410,419
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PAGE 2 OF 2
1975-1976 Actual 1976-1977 Bud~et Estimate (Revised) 1976-1977 Actual Projection
Revenues Revenues Revenues
Debt Debt Debt
Assessments Gen. Fund gervice Total Assessments Gen. Fund Service Total Assessments Gen. Fund Service Total
TAX RATE PER $100 A.V.
General Fund $0,211 $0.195 $0.180
Parks Bond 0.043 0.040 0.040
City Hall Bond 0.005 Q.019 0.019
Total $0.259 $0.254 $0.239
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