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Acting Finance Director Cloud stated that the current tax is <br />proposed at $561.66 per improved residential parcel. As <br />recommended by the Community Facilities District Commission, the 2% <br />escalator factor has been included in the 1994-95 tax levy. Staff <br />recommended passage of first reading of Ordinance No. 0-15-94. <br />Motion by Councilmember Sandoval, seconded by Councilmember Rios, <br />to waive full reading and approve first reading of the ordinance <br />setting the tax rate for CFD 87-1. Unanimous vote. <br />ORDINANCE NO. 0-15-94 - ORDINANCE OF THE CITY OF COLTON COMMUNITY <br />(First Reading) FACILITIES DISTRICT NO. 87-1 ESTABLISHING <br />ANNUAL SPECIAL TAX FOR FISCAL YEAR <br />1994/95. <br />CFD 88-1 <br />The current tax rate is proposed at $798.55 per residential parcel <br />in the City of Colton. As recommended by the Community Facilities <br />District Commission at their August 1, 1994 meeting, the 2% <br />escalator factor has been included in the 1994-95 tax levy. Staff <br />recommended passage of first reading of Ordinance No. 0-16-94. <br />Motion by Councilmember Rios, seconded by Councilmember Cook, to <br />waive full reading and approve first reading of the ordinance <br />setting the tax rate for CFD 88-1. Unanimous vote. <br />ORDINANCE NO. 0-16-94 - ORDINANCE OF THE CITY OF COLTON COMMUNITY <br />(First Reading) FACILITIES DISTRICT NO. 88-1 ESTABLISHING <br />ANNUAL SPECIAL TAX FOR FISCAL YEAR <br />1994/95. <br />CFD 89-1 <br />The proposed tax rate is identified in Exhibit "A" of the attached <br />Resolution and varies depending on whether property is developed or <br />undeveloped, residential, or commercial. The average developed <br />residential lots will be assessed $1,248.48. As recommended by the <br />Community Facilities District Commission at their August 1, 1994 <br />meeting, the 2% escalator factor has been included in the 1994-95 <br />tax levy. Staff recommended approval of Resolution No. R-89-1. <br />Councilmember Bennett posed questions on credit given last year. <br />Acting Finance Director Cloud stated that the levy should not have <br />been given credit. <br />Motion by Councilmember Sandoval, seconded by Councilmember Rios, <br />to accept staff recommendation and adopt Resolution No. R-103-94. <br />Motion carried with Councilmember Bennett voting "No." <br />RESOLUTION NO. R-103-94 - RESOLUTION OF THE CITY OF COLTON <br />COMMUNITY FACILITIES DISTRICT NO. <br />E <br />AUG 16 1994 <br />