HomeMy WebLinkAboutCC ORD 1962-1040 Bonded indebtedness (Special)ORDINANCE NO. 1040
ORDINANCE DETERMINING AMOUNT OF REVENUE NECESSARY FROM PROPERTY TAXES
FOR SUPPORT OF ITS DEPARTMENTS AND TO PAY BONDED INDEBTEDNESS OF CITY
OF NATIONAL CITY, CALIFORNIA, FOR FISCAL YEAR 1962-63
WHEREAS, pursuant to Section 51508 of the Government Code
of the State of California, the City Council of CITY OF NATIONAL CITY,
CALIFORNIA, is required to fix the amount of revenue, from property
taxes, necessary to support its departments for the current year and to
pay the bonded indebtedness:
NOW, THEREFORE, the City Council of CITY OF NATIONAL CITY
does ordain as follows:
SECTION 1; That the City Council of City of National City
does determine that the amount of revenue required for the operation
of departments of the City Government and to pay the bonded indebted-
ness of the said City for the fiscal year 1962-63 is as follows:
ESTIMATED EXPENDITURES FROM GENERAL FUND:
Total Current and Urestricted:
Estimated Revenue for General Fund
from all sources other than property
taxation
Available Funds July 1, 1962
$1,637,387.77
$1 226,947.37
87,663.25
$1,314,610.62
To be raised by taxation for General Fund . . . . 344,995.00
ESTIMATED EXPENDITURES TO BE RAISED BY PROPERTY
TAX LEVIES FOR FOLLOWING FUNDS:
Library $85,234.17
Retirement 65,000.00
Park 105, 528,02
ESTIMATED EXPENDITURES FOR BONDED INDEBTEDNESS:
Bond No. 8 $21,100.00
Available 3,606.10
To be raised by property taxation for
Bonded Indebtedness $18,264.48
SECTION 2: That the amount to be raised by property tax
for general revenue for said fiscal year 1962-63 is the sum of
$344,995.00 after delinquencies.
SECTION 3: That the amount to be raised by property tax
necessary to pay the bonded indebtedness of BOND NO. 8 for the said
fiscal year is the sum of 18,264.48
SECTION 4: That the amount to be raised by property tax
for special funds for said fiscal year is as follows:
(A) Library Fund $85,234.17
(B) Park Fund 105,528.02
(C) Retirement Fund . . 65,000.00
all after delinquencies.
SECTION 5: That Ss Ordinance shall take effect on its
passage and adoption pursuant to sub -section (d) of Section 36937
of the Government Code of the State of California.
PASSED AND ADOPTED by the City Council of the City of
National City, California, this i V day of -1962
AYES: Allen, Colburn, Hart, Morgan, Gux
NAYS: None
ABSENT: None
or of the City . National City,
California
ATTEST:.
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City Clerk
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