Title
Adopt the Secured Roll Tax Rates calculated by the Office of the Auditor-Controller for Fiscal Year 2017-18.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Adopt the Secured Roll Tax Rates calculated by the Office of the Auditor-Controller for Fiscal Year 2017-18.
SUMMARY/DISCUSSION:
Government Code Section 29100 requires secured roll tax rates to be adopted by the Board of Supervisors each year. Since the passage of Proposition 13, the only rates that are subject to this procedure are those needed to provide taxes for the payment of principal and interest on certain long-term agency indebtedness. The Office of the Auditor Controller is requesting that the Board of Supervisors adopt the attached list of rates as those to be used for the Fiscal Year 2017-18 secured roll.
OTHER AGENCY INVOLVEMENT:
None.
FINANCING:
Adoption of these rates will ensure that sufficient funds are available to make payments on the debt service bonds for the districts included on the attached listing. There is no financial impact on the General Fund contribution with this recommend action.
BOARD OF SUPERVISORS STRATEGIC INITIATIVES:
The Fiscal Year 2017-18 Secured Roll Tax Rates pursuant to Article XIII A, Section 1 (b) of the California Constitution is consistent with the Board of Supervisors’ Strategic Initiatives for Administration. The debt service tax rates will levy the revenue necessary to pay voter-approved bonded indebtedness to meet annual payments.
Check the related Board of Supervisors Strategic Initiatives:
__Economic Development
X Administration
__Health & Human Services
__Infrastructure
__Public Safety
Prepared by: Joey Nolasco, Auditor-Controller Analyst I, 784-5716
Approved by: Michael Miller, CPA, Auditor-Controller, 755-5040
Attachments:
2017-18 Secured Roll Debt Service Tax Rates