Page 508 - NRH FY20 Approved Budget

SECTION 2. The taxes collected shall be apportioned for the use as follows:

a) For maintenance and operations levied on the $ 100. 00 valuation;
0. 334938; and

b) For interest and sinking levied on the $ 100. 00 valuation;
0. 237062.

All monies collected and hereby apportioned and set apart for the specific
purposes indicated and the funds shall be accounted for in such a manner
as to readily show balances at any time.

SECTION 3. That the tax rate for maintenance and operations of$ 0. 334938 will impose
imposedosed for that
an amount taxes that exceeds the amount of taxes im
purpose in the preceding year, therefore:

THIS TAX RATE WILL RAISE MORE TAXES FOR
MAINTENANCE AND OPERATIONS THAN LAST YEAR' S
TAX RATE.

SECTION 4. That the maintenance and operations tax rate of $ 0. 334938 exceeds the
effective maintenance and operations rate of$ 0. 310134, therefore:

THIS TAX RATE WILL EFFECTIVELY BE RAISED BY 8. 00
PERCENT AND WILL RAISE TAXES FOR MAINTENANCE
AND OPERATIONS ON A $ 100, 000 HOME BY
APPROXIMATELY $ 24.80.

SECTION 5. It is hereby declared to be the intention of the City Council that the
phrases, clauses, sentences, paragraphs and sections of this ordinance
are severable, and if any phrase, clause, sentence, paragraph or section
of this ordinance shall be declared unconstitutional by the valid judgment
or decree of any court of competent jurisdiction, such unconstitutionality
shall not affect any of the remaining phrases, clauses, sentences,
paragraphs and sections of this ordinance, since the same would have
been enacted by the City Council without the incorporation in this
ordinance of any such unconstitutional phrase, clause, sentence,
paragraph or section.

SECTION 6. this ordinance shall be in full force and effect from and after its passage as
provided bylaw, and it is so ordained.

AND IT IS SO ORDAINED

Ordinance No. 3599
Page 2 of 3
502