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Council passes annual voter-approved property tax ordinance used to pay bond debt service
Summary
The council approved the yearly voter-approved property tax ordinance used to pay bond debt service; the city attorney's deputy explained the measure does not increase taxes and must be passed annually by August.
The City Council approved the annual property tax ordinance that implements a voter-approved levy used to pay debt service on the city's bonds. Miguel Dagger, deputy city attorney, explained to the council: "This is the yearly property tax, ordinance, which is used to pay the, it's a voter approved ordinance, which is used to pay the debt service on the city's bonds every year. It has to be passed by the August of every year until all the city's bonds, if ever, are paid off." He added, "This does not increase anything... It adds nothing."
Councilmember Wax had called item 26 special and asked for an explanation; after the deputy city attorney's statement the council opened and closed the roll and approved the ordinance 12 ayes.
The council record shows formal approval and a note that the ordinance is a recurring annual action necessary to maintain the city's debt service schedule; the vote does not reflect any change to the tax rate or new assessments.
