RESOLUTION NO. __________
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA TENTATIVELY ADOPTING 4.31 MILLS AS THE FISCAL YEAR 2007-08 MILLAGE RATE FOR THE CITY OF LEESBURG, FLORIDA, REPRESENTING THE CURRENT YEAR ROLLED BACK RATE: AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, discussions were held during the regular commission meeting July 23, 2007 regarding the adoption of the Prior Year Operating Millage Levy of 4.50 mills, the adoption of the Current Year Rolled Back Rate of 4.31 mills and the Current Year Proposed Operating Millage Rate 4.01 mills reflecting the State proposed reduction of 7%, and
WHEREAS, the Commission by a supermajority vote approved the current year roll back rate of 4.31 mills and authorized the Interim City Manager to execute and submit the Certificate of Taxable Value for Fiscal Year 2007-08 to the Lake County Property Appraiser at its regular meeting Monday July 23, 2007, and
WHEREAS, a tentative budget for Fiscal Year 2007-08 was presented to the City Commission of the City of Leesburg, Florida on during workshops held August 14th, 20th and 23rd, 2007, and
WHEREAS, following a review of the tentative budget as submitted, the City of Leesburg, Florida determines that a millage rate of 4.31 mills is necessary to produce sufficient revenue to fund operating expenditures during Fiscal Year 2007-08, and
WHEREAS, a Fiscal Year 2007-08 millage rate of 4.31 mills represents the current year rolled back rate, and
WHEREAS, the adoption of the Current Year Rolled Back Rate of 4.31 mills over the Current Year Proposed Operating Millage Rate of 4.01 mills is generally attributable to the decision to fund pension shortfalls, provide additional funding for road resurfacing and landscaping maintenance;
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of Leesburg, Florida, that the tentative millage rate for the City of Leesburg, Florida, is hereby adopted at the rate of 4.31 mills ($4.31 per every $1,000 of taxable valuation) for the 2007 tax roll, which represents the current year rolled back rate.
PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a special meeting held on the 13th day of September, 2007.