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1'1I~!iJ7'L;S <br />City Council <br />Mar~cP~ 8, 1983 <br />~7r. Voto reported that on page 37 of. the reporC shows the spec:ia1. <br />dFErrr.ed as,essments in tne Ci.ty. About $70,000 are defez-red by <br />the Sttite: under Green Acres prof;ram or seni.or citi•r,ens. 'Che C~i.t:y <br />has about .`~224,407 in de,ferred assessments. ~If. the Ci.ty's port:i.on <br />of~ the de.f.~erments saere e1~,iminaCF;d, ~.it woa7.d improve bond issue <br />projectl.ons. <br />W,r. VoCO reporeed that in l~:is siunmary and concl.us~ion sect:ion he <br />states Zl~at the Ci.ty sh~ou].d t~ave between si.x ancl 7.~3 monChs o,f bond <br />i.ndebCedness payments ~.in cash on hancl. 'Che City is in ra „ood <br />Ciosi_t:ion i.n thi.s re~;ard and has improved its pos~i.ti_on ovcr d,~c pasP. <br />f.eoi ye.ars. <br />T,he 'L)66 and 1~67 bond issue requ.Lres aclditional. financ~inge 'Ch~ City <br />can s~i.~nply add [ax 1evi.e5 each year or look over C_h~ lon; term and <br />ezincel ot?~er borid ~i.ssu~s and :i.ncrease thc> 19~6 and 1967 ,o th2C the <br />bottom 7.i.ne would remai.n the same. Phis i.s what t[r. Voto recomrnended <br />the Ci.ty do at t,h~ time the L;i.r.e equi.pment cert~.ia`.icates c~~erc c.ons.i.d~~red. <br />M.r. ['aliey aslcecl iE tne Ci.ty yhould rev~.i.e~w the Cit:y's deEerre~l assess- <br />ments. Mr. Ch1ebF~clc reported tLi~t the Council has deferred mo;t of; <br />Chese rasse,sments uncil the property ts devel.o~~~cL Mr.. Chlebeelc r~~~or,~[ed <br />that the~rz wil.l. ae one ,enior citizen deferre<7 assessm~nt that wil.l. l~>e <br />com~inf; on the Cax ro17.s in tl~c amount of about ~20,000. <br />E4r,. Scal.ze asked about the 1oc~l. povernmenC atid situaCion, T~ir, 9oto <br />repl~i.ed t1~at P_he Ci.Cy's his~h debC 7.evi.ES increased Ghe City's 1oca1 <br />aove~-ncnent a~i.d from thm State. <br />vrs. Sr_alze pointed out Chat 7.ocal ~overnment .~.iid to thc C~i.Cy increased <br />260% over t:he pasC five years. Scalze aslced :i,[ t:his had anyt}~i.ng to <br />do with the Governor's proposal to cut the Ci.ty's ~id by 8~F%. <br />Mr. Voto stace~l tliat ~.hat ~i.s the piroposml., Nowever, it ai.1.l be handled <br />on the same b~si.s as Che cuts to thF; School Dist:r:i.ct. 'Pi~ie Sctiool <br />District's aid was cuC and :i.n Curn t.ho_ School. Distri_cC raas g~iven rnore <br />tsx 7.evy power_. ~ simi.lae concepf: is i.nvo].ved witJ,i t:he Governor's <br />recommendat:i.on on cuCS in l.oc~l. E;overrimF~nt aid eo citCes. <br />ilrs. Scalze stated Chat the aid shot.ild be reclueec,l by a proportionate <br />percenta;;c, ~rs. Scal.ze stated that i.[ che C:i.Ly's :ni.1.1 rate must be <br />iucreased by ~F,our vr f:i.ve m~.il.ts it wi_'ll inike a bi~ elif,Lereilce to ~x].oC <br />of pcople. <br />Mr. Voto .u,,estecL tha[ the Ci.ty d~.i.scuss the matter w-i.th its 1es;i.slators <br />and v~r~.ious comrniC~ee members. i4r. Voto repor.ted. thet the St:ate's <br />~fi.n~ncitil pro6lems came uo nr~ith the>. State's ].osi.ng tl~e court cese <br />on 7.i.m:Lted marlcet valuati.on. Then the St~te iricreased the t?omeste.ad <br />Credi.t amount and changed Che forrnula on niar;<et va7.u~~ti.ons. 'Chus, the <br />State had a bud;et: problem. <br />Yagc --4- <br />