09-28-1988 - Agenda Packet City Council - regular meeting

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1980 1982 1985 Year Improvement Improvement Improvement Total Collectible Bonds Bonds Bonds Levies 1988 $ - $ - $ 30,000 $ 30,000 1989 18,100 - - 18,100 1990 17,700 - - 17,700 1991 17,300 - - 17,300 1992 16.800 - - 16,800 1993 16,100 - - 16,100 1994 15,300 400 - 15,700 1995 14,400 1,200 - 15,600 1996 - 700 - 700 1997 - 600 - 600 i998 - 500 - 500 $ 115,700 $32400 $ 30,000 $1491100 The forecast titled "1985 Improvement Bonds, With Estimated Ad Valorem Property lax Levies" includes ad valorem property tax levies under the receipts column "Other" of the following amounts: Year Collectible Tax Levy 1988 $ 30,000 (already certified in 1987) 1989 30,000 1990 35,000 1991 40,000 1992-2000 50,000 (for each year) Delinquent taxes and special assessment receivables are assumed to be consist-nt from year to year ..tnd also to approximate the eventual uncollectible amount. A collection of avproximately $48,000 of Delinquent Special Assessments in May 1988 is included in the 1982 Improvement Bond Fund under other receipts for 1988. Due from other funds of $31,824 in the 1966-76 Improvement Bond Fund are assumed to be received 50% in 1988 and 50X in 1989. Due from other funds of $40,015 in the 1985 Improvement Bond Fund represent Special Assessments on City parcels and are spread similar to normal Special 4ssessments. The principal of Deferred Special Assessment Levies of .ne 1985 Improv-mt dond Fund have been reduced by $47,000 in anticipation of the contested assessments relating to the Art Center.