Ord 01-407
ORDINANCE NO. 01-407
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
OF FEDERAL WAY, WASHINGTON, FIXING THE
PROPERTY TAX AMOUNT FOR THE YEAR 2002.
WHEREAS the City Council of the City of Federal Way has
adopted its budget for the 2001/02 biennium which includes an
increase in property tax levy for the year 2002; and
WHEREAS the City Council, in the course of considering
the mid-biennium budget adjustment has reviewed all changes in
projected revenues and expenses and other city obligations for the
city during the year 2002; and
WHEREAS while the national inflation as measured by the
implicit price deflator is 1.89%; the local inflation, as measured
by consumer price index (CPI-W) , is 3.9% for the year ended June,
2001;
NOW, THEREFORE, BE IT ORDAINED, by the City Council of
the City of Federal Way that the limit factor for the regular levy
for the calendar year 2002 shall be 104.8% based on a 1% base
adjustment plus the amount allowed by law but not used in the past
four years.
Any assessed value resulting from annexation and/or
new construction shall be in addition to'the above.
ORD. # 01-407
, PAGE 1
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Section 1.
~.
There shall be and there is hereby
levied against the property in the City of Federal Way, Washington,
a municipal tax for the year 2002 for the purposes of paying the
general
expenses
of
municipal
government
in
the
amount
of
$7,796,780.
Section
2.
Severabili ty.
The
provisions
of
this
ordinance are declared separate and severable.
The invalidity of
any clause, sentence, paragraph, subdivision, section, or portion
of this ordinance or the invalidity of the application thereof to
any person or circumstance, shall not affect the validity of the
remainder of the ordinance, or the validity of its application to
other persons or circumstances.
Section 3.
Ratification.
Any act consistent with the
authority and prior to the effective date of this ordinance is
hereby ratified and affirmed.
Section 4.
Effective Date.
This ordinance shall take
effect and be in force five (5) days from the time of its final
passage, as provided by law.
PASSED by the City Council of the City of Federal Way
this
4th
day of
December
, 2001.
CITY OF FEDERAL WAY
~~/4'~
" MAYOR, MIK P
ORD. #
01-407
, PAGE 2
)7' r~~~
CITY CLERK, N. CHRISTINE GREEN,CMC
APPROVED AS TO FORM:
~~þ~
CITY ATTORNEY, BOB STERBANK
FILED WITH THE CITY CLERK: 11/13/01
PASSED BY THE CITY COUNCIL: 12104/01
PUBLISHED: 12/08/01
EFFECTIVE DATE: 12/09/01
ORDINANCE NO. 01-407
k. \fin\bie=ial \ordwanc\taxlevy2001.doc
ORD. # 01-407
, PAGE 3