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<br /> 1]t;C/1
<br /> Valuation and Funded Debt History
<br /> Ratio Funded
<br /> Fiscal Taxable Funded Debt Debt to
<br /> Year Taxable Assessed Outstanding Taxable Funded
<br /> Ended Estimated Assessed Valuation at End Assessed Debt
<br /> 9-30 Population Valuation Per Capita of Year Valuation Per Capita
<br /> 1984 33,345 $396,108,922 $11,879 $ 7,834,000 1.98% $234.94
<br /> 1985 33,500 455,064,587 13,584 10,522,000 2.31% 314.09
<br /> 1986 35,000 500,619,689 14,303 9,968,000 1.99% 284.80
<br /> 1987 34,650 781,212,501 22,546 10,000,000 1.28 % 288.60
<br /> --',
<br /> 1988 34,650 784,432,857 22,639 16,296,000 2.08 % 470.30
<br /> 1989 36,900 655,114,637 17,754 15,695,000 2.40% 425.34
<br /> 1990 36,864 684,341,049 18,564 14,945,000 2.18% 405.41
<br /> 1991 34,356 640,844,416 18,653 17,890,000 2.79% 520.72
<br /> 1992 34,356 605,725,571(1) 17,631 20,065,000 3.31% 584.03
<br /> 1993 35,043 616,052,5861) 17,580 23,965,000(2) 3.89% 683.87
<br /> (1) After deducting all exemptions and abatements.
<br /> (2) Includes $3,415,000 Bonds being issued simultaneously with the Bonds.
<br /> Tax Rate, Levy and Collection History
<br /> Fiscal
<br /> Year Distribution
<br /> Ended Tax General Interest and % Current % Total
<br /> 9-30 Rate Fund Sinking Fund Tax Levy Collections' I) Collections
<br /> 1984 $0.6800 $0.6200 $0.0600 $2,693,54-1- 85.00% 100.50%
<br /> 1985 0.7600 0.6400 0.1200 3,458,491 86.28% 102.90%
<br /> 1986 0.7600 0.6300 0.1300 3,80-1-,710 85.31% 99.85%
<br /> 1987 0.4900 0.4100 0.0800 3,827,941 82.30% 97.92%
<br /> 1988 0.4900 0.3900 0.1000 3,843,721 83.53% 99.50%
<br /> 1989 0.5820 0.4434 0.1386 3,812,767 87.56% 101.25%
<br /> 1990 0.5972 0.4609 0.1363 4,086,884 85.95% 99.08%
<br /> 1991 0.5972 0.4582 0.1390 3,823,519 94.95% 100.26%
<br /> 1992 0.5972 0.4497 0.1475 3,595,957 95.23% 100.97%
<br /> 1993 0.5972 0.2894 0.3078 3,679,066 88.78%(2) 90.58 %(2)
<br /> (1) Current collections are calculated up, to the delinquent date only.
<br /> (2) Collections through March 31, 1993
<br /> I
<br /> Property within the City is assessed as of January 1 of each year (except for business inventory which may, at the option of the
<br /> taxpayer, be assessed as of September I); taxes become due October 1 of the same year, and become delinquent on February 1
<br /> of the following year. Split payments are not pemùtted. Discounts are not allowed. Taxpayers 65 years old or older are
<br /> pemùtted by State law to pay taxes on homesteads in four installments with the first due on February 1 of each year and the
<br /> final installment due on August 1.
<br /> Charges for penalty and interest on the unpaid balance of delinquent taxes are made as follows:
<br /> Month Penalty Interest Total
<br /> February 6% 1% 7%
<br /> March 7% 2% 9%
<br /> April 8% 3% 11%
<br /> May 9% 4% 13%
<br /> June 10% 5% 15%
<br /> July 12% 6% 18%
<br /> After July, penalty remains at 12%, and interest continues to accrue at the rate of 1 % each month. In addition, if an account
<br /> is delinquent in July, a 15% attorney's collection fee is added to the total tax penalty and interest charge.
<br /> A - 7
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