Resolution No. 2282o 54
RESOLUTION NO 2282
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS
ADOPTING DEBT SERVICE REQUIREMENTS AND AN ESTIMATED
TAX RATE THEREFOR FOR THE FISCAL YEAR 1980-81
WHEREAS, Section 2237(a) of the Revenue and Taxation Code empowers the
City Council of the City of Cypress to levy and collect a special tax for the
payment of interest on voter approved bonds and for the retirement of such
bonds issued by the City, and
WHEREAS, two-thirds of the eligible voters of the City of Cypress approved
the 1968 Drainage Bond Issue
NOW, THEREFORE, the City Council of the City of Cypress DOES HEREBY RESOLVE
as follows:
SECTION 1 Voter Approved Debt Service Requirement
That the debt service requirement for the City of Cypress is $64 750 for
the 1980-81 Fiscal Year
SECTION 2 Estimated Voter Approved Indebtedness Tax Rate
That the estimated voter approved indebtedness tax rate necessary to meet
the debt service requirement is Four Cents ($ 04) for each One Hundred Dollars
($100) of all the taxable property within the City of Cypress at the equalized
value thereof
SECTION 3 Actual Tax Rate
The Finance Director is authorized and directed to calculate the actual
tax rate to service the City's debt requirement once final and complete assessed
valuations for the City of Cypress for the 1980-81 Fiscal Year are available
and to transmit such calculations to the County of Orange Auditor -Controller
SECTION 4
The City Clerk shall cause certified copies of this Resolution to be filed
with the Auditor, Assessor and Tax Collector of the County of Orange immediately
upon its adoption
PASSED AND ADOPTED by the City Council of the City of Cypress at a regular
meeting held on the llth day of August 1980
MAYOR OF THE CITY OF CYPRESS
ATTEST
C RK7HE C�F
CITY CYPRESS
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
I DARRELL ESSEX City Clerk of the City of Cypress DO HEREBY CERTIFY that
the foregoing Resolution was duly adopted at a regular meeting of the said City
Council held on the llth day of August 1980• by the following roll call vote*
AYES: 4 COUNCIL MEMBERS. Lacayo, Mullen, Rowan and Evans
NOES* 0 COUNCIL MEMBERS* None
'1BSENT 1 COUNCIL MEMBERS* Coronado
CIT CITY CLE THE C CYPRESS
RK OF