2009-10 Adopted Budget - City of Hoquiam

2. Voted Property Tax LevyAmount % Inc (Dec)2007 Actual $181,820 -1.6%2008 Forecast $184,188 1.3%2009 Budget $0 0%2010 Budget $0 0%The voted property tax levy provides forthe payment of debt service on the 1995voter approved general obligation bonds.Bonds were sold totaling $2.185 million.200,000190,000180,000170,000160,000150,000140,000Voted Property Tax Levy2007 2008 2009 2010Proceeds from this issue were used to refund the callable portion of three other bondissues totaling approximately $2,020,000 in total principal. The savings to the Cityamounted to $154,000 over the life of the bonds or $124,000 present value.The current levy rate on this issue is $0.56 per $1,000 of AV. This bond issue was paidin full on December 31, 2008.Maximum Rate: The bonds serviced from this revenue source cannot exceed 7.5% ofthe City's voted property tax levy AV less any councilmatic or lease/purchase bondissues.3. Emergency Medical Services LevyAmount % Inc (Dec)2007 Actual $165,873 5.2%2008 Forecast $191,296 15.3%2009 Budget $195,882 2.4%2010 Budget $198,293 1.2%%The City asked the voters for authority tolevy an additional property tax of 50 centsper thousand dollars of assessedvaluation to support emergency medicalservices in 2004. The levy was passedand was imposed for six years beginning in 2005.$200,000$150,000$100,000$50,000$0EMS Levy2007 2008 2009 2010Maximum Rate: The Emergency Medical Services levy can be for a maximum of $0.50per $1,000 of assessed value and assessed up to 6 years. This levy requiresreauthorization each time it expires.31