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Ordinance 1986-11ORDINANCE NO. 86 - 11 ORDINANCE OF THE CITY OF GILROY FIXING AMOUNT OF REVENUE FROM PROPERTY TAXES NECESSARY TO PAY BONDED OR OTHER INDEBTEDNESS OF THE CITY OF GILROY OR ANY POETIO~ On DISTRICT OF THE CITY OF GILROY FOR THE FISCAL YEAR 1986-1987. WHEREAS, the duties of the Assessor and Tax Collector of the City of Gilroy have hereto been transferred to the County Assessor and County Tax Collector, respectively, of the County of Santa Clara in accordance with Section 51500 to 51518 of the Government Code; and W~EREAS, Section 51508 of said Code requires that the Legisla- tive body of the City shall determine by ordinance or resolution, prior to the fixing of the tax rate for the Current year, in the amount of revenue from property taxes necessary to pay the bonded or other in- debtedness of the City or any portion of the City; and I~EREAS, the Council of the City of Gilroy has not yet fixed the tax rate for 1986-1987 Fiscal Year, but will do so following the adoption of this ordinance. NOW, THEREFORE,, BE IT ORDAINED BY THE CO5~CIL OF THE CITY OF GILROY AS FOLLOWS: Section 1. That the Council of the City of Gilroy does here- by fix the amount of revenue from property taxes necessary to pay the bonded indebtedness of the City of Gi!roy Parking District No. 1 - First Division at the s~m of $7~!72.00. Section 2. For the reason that Article VI of the Gilroy Char~ ter provides that an or~!inance declaring the amount of money necessary to be raised for taxation or fixing the rate of taxation or levying the annual tax upon property, need not be published and can be made effec- tive immediately upon adoption, this ordinance shall take effect from and after its adoption and approval, and there shall be no publication of this ordinance prior to adeption, but the City Clerk shall cause at least the title and surmmary of this ordinance to be published once in the official newspaper of the City within fifteen (15) days after its ORDINANCE NO. 86 - 11 -1- adoption. PASSED AND ADOPTED this 4th day of August, 1986, by the follow- ing vote: AYES: NOES: ABSENT: COUNCILM]~ERS: ALBERT, GAGE, KLOECKER, MUSSALLEM, VALDEZ and HUGHAN. COUNCILME~ERS: None COUNCILME~ERS: PAL~RLEE ATTEST: ity Clerk~--- APPROVED: ORDINANCE NO. 86 - 11 -2- I, SUSANNE E. STEINMETZ, City Clerk of the City of Gilroy, do hereby certify that the attached Ordinance No. 86-11 is an original ordinance, duly adopted by the Council of the City of Gilroy-at a regular meeting of said Council held on the 4th day of August , 19 86 present. , at which meeting a quorum was affixed the Official Seal of the City of Gilroy, this of August 19 86 ~ity Clerk Of th~ City of Gilroy~ (Seal) IN WITNESS WHEREOF, I have hereunto set my hand and 5th day