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<br />commence a schedule of installation of mercury vapor or florescent <br /> <br />lighting. <br /> <br />5. The armory project was omitted as a last resort in the effort for a budget <br /> <br />balance. This was done in awareness of City Council's indication it would <br /> <br />provide funds for the project. Endorsement is postively given to the need <br /> <br />here of an armory. The cost to the city, through the budget process, was <br /> <br />estimated at $35,000. No answer can at the moment be given to how this <br /> <br />money can be provided but every cooperation pos sible will be given to <br /> <br />Council in an effort to realize the city's share. <br /> <br />As noted earlier in item 2 of the program listing of this message, the tax rate on <br /> <br />which this budget is based and balanced is $1.90 for real property and public <br /> <br />service corporations. It is recognized the City Council, in the course of the re- <br /> <br />assessment program of 1958 and early 1959, indicated its tentative and unofficial <br /> <br />wish fora rate approximating $1.85. ,This rate reduction from the previous $2.25 <br /> <br />was due to Council's expressed feeling that there should be nQ appreciable increase <br /> <br />in city tax revenue, it being known an increase would occur should the rate be <br /> <br />retained at $2.25 by virtue of the combined factors of the reassessment of pro- <br /> <br />perties and the simultaneous change in appraisal percentage and ratio of assessed <br /> <br />value to appraised value. The budget was developed on the basis of the $1.85 rate <br /> <br />but the problem of meeting obligations and the overall revenue situation, as has <br /> <br />been fairly thoroughly outlined, compelled a shift to a rate of $1.90. <br /> <br />For tax revenue, based on the current total assessment, one-cent on the tax rate <br /> <br />represents $3,358, combining the effect on real property and public service <br /> <br />- 32 - <br />