HomeMy Public PortalAbout97-124 (08-06-97)RESOLUTION NO. 97-124
A RESOLUTION OF THE CITY COUNCII.. OF THE CITY OF LYNWOUD
, ADNSTING THE RATE OF AND LEVYING TAXES FOR THE CITY'S
CONTRIBUTION TO THE RETIREMENT FUND.
WHEREAS, on April 16, 1946, the electors of the City of Lyawood adopted Ordinance
No. 426 that approved the State Employces' Reurement Systan as the retira~nt system for
officials and employees of thc City of Lynwood aod authorized the City Council to levy taxes to
maintain the City's share of coraributions to t1~at retirement system; and
WHEREAS, on November 5, 1974, the electocs of the City of Lynwood adopted
Ordinance No 975 that amended Ordinance No. 426, as weU u the contract betwaen the City the
Public Employces Retirement System, to include improved retiremeat benefits for local safety
members in the City of Lynwood and further authorized the Ciry Council to levy such taxes as may
be detecmined necessary to maintain the City's share of those improved retirement benefits; and
WHEREAS, on July 12, 1996, the City Council adjusted the tate of the tax levy to pay
obligations incurred for ihe maintenance and operation of the Retiremem Fund during prior years;
and
WHEREAS, it is the obligation of the Ciry Council to levy a tax in an amount sufficieat
to pay for the costs and expenses related to the maintenance and operarion of the Retirement Fund
, that has been established to fund the voter approved retirement system and retiremeat benefits;
NOW, Tf~REFORE, Tf~ CITY COUNCIL OF Tf~ CITY OF LYNWOOD DOES
RESOLVE AS FOLLOWS:
Section l. The specific rate of the tax to be collected to pay for the costs and expenses
related to the Retirement Fund for fiscal year 1997-1998 is hereby detecmined and established as
$0.1875 for each $] 00 of assessed valuation.
Section 2. The ta~c shall be collected in the same manner as ordinary ad valorem propecty
taxes aze collected.
Section 3. The Auditor-Controller of Los Angeles County is requested to e~er on the next
CowYty assessment roll on which taxes will become due, opposite each lot or pazcel of land
affected, the installment of the tax that is then due and the rate of that tax.
Sedion 4. The effective date of the new tax cate, as established herein, is July 1, 1997.
Section S The City Clerk is directed to certify to the passage and adoption of flris
resolution and to transmit a certiSed copy of this resolution to the Auditor-Controller of Los
Angeles Coumy.
, PASSED, APPROVED AND ADOPTED this 6th ~y o{ August 1997,
~ `
PAUL H. , R
ATTEST:
~~~- ~~ ~~
ANDREA L. HOOPER, CITY CLERK
APPROVED AS TO FORM:
~,~1,...:. B. 12,~I~.k.,
CITY ATTORNEY
APPROVED AS TO CONTENT:
FAUS G , SANAGER
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES j ss.
I, the undersigned City Clerk of the City of Lynwood, do hereby
certify that the foregoing resolution was passed and adopted by the City Council
, of the City of Lynwood at a regular meeting held on the 6th day of Auaust
by the following vote:
AYES: COUNCILMEMBER BYRD, HENNING, RICHARDS
NOES: NONE
ABSENT: COUNCILMEMBER REA
~~ ~,
CITY CLERK, City of Lynwoo~
,
STATE OF CALIFORNIA )
COUNTY OF LOS AN6ELES )
ss.
I> the undersigned City Clerk of the City of Lynwood and Clerk of the
City Council of said City, do hereby certify that the above and foregoing is a
full, true and correct copy of Resolution No. 97-124 on file in my office and
that said resolution was adopted ont he date and by the vote therein stated.
Dated this 6th day of August ~
l~'/~-~~~ O~ ~ /~o~ yarz~i.~
CITY CLERK
,