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O-09-M . . MISC. ORDINANCES N~ 40 9-M AN ORDINANCE PROVIDING A BUDGET FOR EXPENSES FOR T.HE GENERAL OBLIGAT ION BONDED DEBT SER- VICE OF THE CITY OF CLERMONT FOR THE FISCAL YEAR 1965-66 AND MAKING APPROPRIATIONS THERE- FOR; PROVIDING A TAX LEVY ON ALL PROPERTY IN THE CITY OF CLERMONT, LAKE COUNTY, FLORIDA, FOR THE YEAR 1965, FOR FUNDING THE GENERAL OBLIGATION BONDED DEBT SERVICE. BE IT ORDAINED AND EST ABLISHED BY THE CITY COUNCIL OF THE CITY OF CLERMONT, FLORIDA: SECTION 1. It is hereby found and determined by the City Council of the City of Clermont, Lake County, Florida, that the following sums of money, or as much thereof as may be authorized by law, as may be needed or deemed necessary to defray all expenses and liabilities of the City of Cler- mont in funding the City's General Obligation Bonded Debt Service be and the same is hereby appropriated for the corporate purpose and objects of said city hereinafter specified for the fiscal year commencing on the first day of November, 1965 and ending on the 31st day of October, 1966. GENERAL OBLIGATION BONDED DEBT SERVICE EXPENSES Redemption of General Obligation bonds Interest on General Obligation bonds Collection fees (10%) Reserves $ 11,000.00 1,410.00 1,817.33 3,945.98 $ 18,173.31 SECTION 2. It is hereby found and determined by the City Council of the City of Clermont, Lake County, Florida, that the revenue required to fund the appropriation made in Section 1 hereof shall come from the following sources: REVENUE FOR GENERAL OBLIGATION BONDED DEBT SERVICE Property tax levy - General Obligation Bonds $ 18,173.31 SECTION 3. It is hereby found and determined by the City Council of the City of Clermont, Lake County, Florida, that the total of the assessment roll of the City of Clermont, Florida, for the year 1965, as prepared by the Tax Assessor of the said city, and as equalized and confirmed by the City Council is: Real Property Business and Household Personal Property $ 19,015,380.00 1,539,600.00 $ 20,554,980.00 . . MISC. ORDINANCES N~ 41 9-M and that the following deduction must be made from said assessment roll in order to arrive at the value of all property subject to General Obligation Bonded Debt Service: Widows and Disability Government, City, County, Church $ 74,000.00 1,351,180.00 $1,425,180.00 $19,129,800.00 thereby leaving an assessment roll having a total value of Nineteen Million One Hundred Twenty-Nine Thousand Eight Hundred Dollars and No Cents ($19,129,800.00) subject to General Obligation Bonded Debt Service and each mill levied thereon should produce, based on 95% collection, Eighteen Thousand One Hundred Seventy-Three Dollars and Thirty-One Cents ($18,173.31), if so collected. Section 4. It is hereby found and determined by the City Council of the City of Clermont, Lake County, Florida, that to raise the sum of Eighteen Thousand One Hundred Seventy-Three Dollars and Thirty-One Cents ($18,173.31) required for General Obligation Bonded Debt Service and service charges thereon, anticipated uncollected taxes, a tax levy of one (1) mill is required to be levied as follows: For Interest, Sinking Fund and Reserve, For General Obligation Bonded Indebtedness $ 18,173.31 Section 5. There is hereby levied and shall be collected on each dollar of taxable property in the City of Clermont, Florida, and in the areas excluded from the city by Chapter 211.52, Acts of Legislature 1941, for In- terest and Sinking Fund, and Reserve for Bonded Indebtedness on all properties in said City, not herein exempt as provided herein, and on all excluded property as provided herein, a tax of one (1) milL Section 6. The Tax Assessor of the City of Clermont is hereby di- rected to extend the assessment roll of said City heretofore equalized, con- firmed, and approved by the City Council in accordance with the millage pro- vided in Section 5 of this Ordinance, and to deliver same to the Tax Collector and City Clerk of the City, and the Tax Collector and City Clerk are hereby di- rected to collect the said taxes at the time and in the manner provided by law and the general Ordinances of the City of Clermont, Florida. Section 7. No monies collected for the Interest and Sinking Fund and Reserve for the General Obligation Bonded Indebtedness shall be used for any other purpose other than paying first, ten per cent (10%) thereof for book- keeping and Administration charges, secondly, the interest on the General Obligation Bonded Indebtedness of said City falling due during the calendar year of 1966 and, third, for the retirement of the principal Bond Indebtedness in such manner as the Council may hereinafter determine, or as the City is obligated to pay in accordance with the terms and conditions set forth in its General .... " .f~"" .::' ;.: ~ ' ~ '. r e e MISC. ORDINANCES N~ 42 9-M Obligation Bonds, Section 8. This Ordinance shall become effective immediately upon its passage and approval by the Mayor. PASSED AND ADOPTED on the 19th day of October, 1965. ~~¿:-> / President of City Countil City of Clermont, Florida ATTEST: ,i-';;" RECEIVED AND APPROVED by me this 19th day of October, 1965. ~~~",d" CERTIFICATE OF POSTING I HEREBY CERTIFY that a certified copy of the foregoing Ordinance was posted on the Public Municipal Bulletin Board for a period of not less than one week, as required under the Charter of the City of Clermont, beginning October ç/Z/. ,1965. DATED: October ~ 0 , 1965.