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94 <br /> <br />THURSDAY, MAY 6, 1993 <br /> <br />Thanksgiving Day as an additional paid holiday for all employees under <br />the City Manager for FY 93-94 only. <br /> <br />Upon motion, duly seconded and by unanimous vote, Council set the City <br />Attorney's retainer for FY 93-94 at $18,000. <br /> <br />Upon motion, duly seconded and by unanimous vote, Council decided that <br />the Real Estate tax rate for FY 93-94 would not exceed $.84 per $100 in <br />assessed valuation (the City Manager's budget included a Real Estate <br />tax rate of $.88 per $100) o <br /> <br />Upon motion, duly seconded and by unanimous vote, Council decided that <br />the assessment ratio for Personal Property would not exceed 75% of <br />assessed valuation at the rate of $2.25 per $100 (the City Manager's <br />budget included Personal Property assessed valuation at 100% of value). <br /> <br />Upon motion, duly seconded and by unanimous vote, Council increased the <br />transfer from the Electric Fund to the General Fund by $294,616 in <br />order to parallel the 5.5% rate increase imposed by Appalachian Power <br />Company which was imposed effective May 4, 1993. In so doing, Council <br />decided that the rate increase would continue through June 30, 1993, <br />regardless of whether the State Corporation reduces APCo's rate <br />increase before that time. <br /> <br />Upon motion, duly seconded and by a vote of 4 "yes" and 1 "no" <br />(Councilman Oakes), Council approved adding a consumers utility tax on <br />telephone service as a General Fund revenue (20% of the first $15 for <br />residential customers and 20% of the first $15 plus 5% of the amount <br />over $15 for commercial and industrial customers). The City Manager <br /> <br /> <br />