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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, 2021, ON ALL <br />PROPERTY, BOTH REAL AND PERSONAL, IN SAID CITY, THAT <br />IS SUBJECT TO TAXATION FOR THE PURPOSE OF PAYING <br />SUFFICIENT REVENUE TO CARRY ON THE SERVICES OF THE <br />SEVERAL DEPARTMENTS OF SAID CITY FOR THE ENSUING <br />YEAR, WITH AN EXCESS PROPERTY TAX LEVY FOR THE <br />PURPOSE OF PAYING DEBT SERVICE ON THE CITY'S <br />UNLIMITED TAX GENERAL OBLIGATION BONDS ISSUED IN <br />2016 AND 2019, 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 2021 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 $3.825, 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; and pursuant to Ordinance No. 2610, passed on July <br />157 2019, authorized the issuance and sale of $40,885,000 principal amount of the City's <br />Unlimited General Obligation Bonds, 2019 (together the "Bonds"); and has determined that <br />to provide the money necessary to pay the debt service requirements on the Bonds in the <br />year 2020, an excess property tax levy in the amount of $3,602,975 for the Bonds must be <br />levied in year 2020, and collected in year 2021; and <br />WHEREAS, the final assessed valuation calculation has been determined; <br />CC: Legislative Development\General Tax Levy + Excess Levy 10-8-20 <br />AW:bjs Review and analysis by Barbara Saxton <br />Page 1 of 3 <br />T <br />