BC 1969 07 28 - Laserfiche WebLink

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RESOLUTION PROVIDING FOR THE LEVY OF TAXES FOR THE PARKWOOD SANITARY DISTRICT IT APPEARING TO THE PARKWOOD SANITARY DISTRICT BOARD that application has been made by a nationally known motel for a four (41 inch meter to serve a motel complex to be constructed within the bounds of the Parkwood Sanitary District; AND IT FURTHER APPEARING that the demands of the motel will necessitate the construction of an additional main, which will require an additional capital outlay; AND IT FURTHER APPEARING that current operating costs continue to increase and that the money set aside for depreciation and emergencies continues to decrease in purchasing power by reason of inflation; AND IT FURTHER APPEARING that approximately Ten Thousand Dollars ($10, 000.00) will be necessary to pay the interest and principal on the bonded indebtedness and to retire the bonds which will become due and payable during the ensuing fiscal year; and that the sum of Three Thousand Five Hundred Dollars ($3, 500.00) in addition to current revenue should be sufficient to provide funds for proper maintenance, adequate depreciation and operation of the work of the District, and to pay the interest on the out- standing obligations (and to retire the bonds) which will become due during the ensuing year; AND IT FURTHER APPEARING that property assessed for taxation within the Sanitary District totals Two Million Four Hundred Ninety-eight Thousand Four Hundred-Sixty-two Dollars ($2,498,462.00), and that a levy of fifteen cents (15~) per hundred dollars on said valuation will produce Three ThoUsand Seven Hundred Forty-seven Dollars Sixty Cents ($3,747.60); NOW, THEREFORE, BE IT RESOLVED: 1. That the Parkwood Sanitary District Board does hereby find as a fact and declare: ia) That funds available from surplus operating revenue as provided by G. S. 130-144 are insufficient for the payment of interest and the retirement of the District's obligations and the cost and expense required for the proper maintenance, adequate depreciation and operation of the work of the Sanitary District. (b) That the assessed valuation of t. he property within the limits of the Parkwood Sanitary District is Two Million Four Hundred Ninety-eight Thousand Four. Hundred Sixty-two Dollars ($2,498,462.00). (c) That a levy of fifteen cents (15¢) per One Hundred Dollars ($100.00) valuation will produce approxi- mately Three Thousand Seven Hundred Forty-seven Dollars Sixty Cents ($3, 747.60). id) That barring unforeseen and unanticipated expenses, the sum of Three Thousand Seven Hundred Forty- seven Dollars Sixty Cents ($3, 747.60) should be ample to meet the obligations of the Sanitary District during the fiscal year 1969-1970.