ORDINANCE NO. O98-1238

ENACTED 06/23/1998

ORDINANCE NO. 098-1238

AN ORDINANCE ESTABLISHING THE TAX LEVY IN THE GENERAL SERVICES DISTRICT FOR THE FISCAL YEAR 1998-99, AND DECLARING THE AMOUNT REQUIRED FOR THE ANNUAL OPERATING BUDGET OF THE URBAN SERVICES DISTRICT, PURSUANT TO SECTION 6.07 OF THE METROPOLITAN CHARTER.

BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

SECTION 1. That the tax levy for the General Services District of the Metropolitan Government of Nashville and Davidson County for the fiscal year 1998-99 on each $100.00 assessed value of all property, real, tangible personal, intangible personal and mixed, with the General Services District, shall be $3.39 prorated and distributed as follows:

1. General Fund $1.68 per $100.00
2. School Fund $ .96 per $100.00
3. Debt Service Fund $ .50 per $100.00
4. School Debt Service Fund $ .25 per $100.00
Total Levy General Services District $3.39 per $ 100. 00

SECTION 2. That $0.10 per $100.00 of the revenue of the General Services District General Fund generated from this tax levy collected from the area of the Urban Services District will be deposited to the credit of the General Fund of the Urban Services District.

SECTION 3. Pursuant to Section 6.07 of the Charter, BE IT HEREBY DETERMINED AND DECLARED that the annual operating budget of the Urban Services District for the fiscal year 1998-99 requires that $67,886,381 by a property tax levy therein, and the Urban Council is hereby directed to levy a tax upon all property, real, tangible personal, intangible personal and mixed, within the Urban Services District of $0.85 per $ 100.00 of assessed valuation, prorated and distributed as follows:

1. General Fund $ .74 Per $100.00
2. Debt Service Fund $ .11 Per $ 100.00

Total Levy Urban Services District $0.85 Per $100.00

SECTION 4. That the amount of revenue generated in accordance with Section 2 above will be deposited to the credit of the General Fund of the Urban Services District.

SECTION 5. This ordinance shall take effect from and after its passage, the welfare of the Metropolitan Government of Nashville and Davidson County requiring it.