NOTICE OF PUBLIC HEARING #1

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInEmail this to someone

NOTICE OF PUBLIC HEARING #1
CITY OF MILWAUKIE

The Milwaukie City Council will hold a public meeting on June 7, 2016, at 6:00 p.m. at 10722 SE Main Street, Milwaukie, Oregon 97222. The purpose of this meeting is to change the bonded debt levy amounts which the Budget Committee approved on May 12, 2016 because subsequently, the voters of Milwaukie approved a new general obligation bond issue for library expansion at the May 17, 2016 election.

The BN 2017-2018 budget was prepared in accordance with the basis of accounting used in the preceding year and for FY 2016-2017 includes levying a property tax rate of $4.1367 per $1,000 of taxable assessed value for operations and $1,046,000 for general obligation bonds, and for FY 2017-2018 the rate of $4.1367 per $1,000 of taxable assessed value for operations and $1,032,000 for general obligation bonds.

The bonded debt levy amounts listed above have been increased from the “proposed budget” amounts approved by the Budget Committee on May 12, 2016 as a result of the new bond issue which the voters approved on the May 17, 2016 election. The increased bonded debt levy amounts are scheduled to be approved by Council at the June 7, 2016 Public Hearing noticed as Notice of Public Hearing #2, to be held following this public hearing. Note that the appropriated expenditures in the Debt Service Fund will need to be increased accordingly via a supplemental budget hearing during the biennium – date of which to be determined later.

Copies of the budget document are available online at www.milwaukieoregon.gov/finance and/or at Milwaukie City Hall between the hours of 8:00 am and 5:00 p.m.

Publish 06/01/2016. CLK13644