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AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF <br />TUKWILA, WASHINGTON, LEVYING THE GENERAL TAXES <br />FOR THE CITY OF TUKWILA IN KING COUNTY FOR THE <br />FISCAL YEAR COMMENCING JANUARY 1, 2019, ON ALL <br />PROPERTY, BOTH REAL AND PERSONAL, IN SAID CITY, <br />THAT IS SUBJECT TO TAXATION FOR THE PURPOSE OF <br />PAYING SUFFICIENT REVENUE TO CARRY ON THE <br />SERVICES OF THE SEVERAL DEPARTMENTS OF SAID CITY <br />FOR THE ENSUING YEAR, WITH AN EXCESS PROPERTY TAX <br />LEVY FOR THE PURPOSE OF PAYING DEBT SERVICE ON <br />THE CITY'S UNLIMITED TAX GENERAL OBLIGATION BONDS <br />ISSUED IN 2016, AS REQUIRED BY LAW; PROVIDING FOR <br />SEVERABILITY; AND ESTABLISHING AN EFFECTIVE DATE. <br />WHEREAS, the City Council of the City of Tukwila has considered the City's anticipated <br />financial requirements for 2019 and the amounts necessary and available to be raised by <br />ad valorem taxes on real, personal and utility property; and <br />WHEREAS, the following sentence is provided for information only: The maximum <br />Statutory Levy Rate for the City of Tukwila, as allowed by RCW 84.52.043, is $3.490, which <br />includes $0.225 for the Firemen's Pension Fund as allowed by RCW 41.16.060; and <br />WHEREAS, the City, pursuant to Ordinance No. 2514, passed on November 21, 2016, <br />authorized the issuance and sale of $36,500,000 principal amount of the City's Unlimited <br />Tax General Obligation Bonds, 2016 (the "Bonds"); and has determined that to provide the <br />money necessary to pay the debt service requirements on the Bonds in the year 2019, an <br />excess property tax levy in the amount of $2,840,000 for the Bonds must be levied in year <br />2018, and collected in year 2019; and <br />WHEREAS, the final assessed valuation calculation has been determined; <br />W: Word Processing\Ordinances\General Tax Levy + Excess Levy 10-12-18.doc <br />AW:bjs <br />Page 1 of 3 <br />5 <br />