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West Jordan Utah Form 1125-A: What You Should Know
FINAL SESSION — Bridgeport, Connecticut on 11/7/2016. BUDGET, 1ST SESSION AMENDMENT NO. Res. 7 — Amend Sec. 10-25-5.5 Sec. 10-25-5.5 — (6) Transfer of Funds. A bond issue by the board of each of the taxing districts of the city pursuant to this section may not be approved by voters unless the following conditions are met: (1) At least one-third of the voters in each of the districts to be taxed under the bond issue are voting in favor of approval. (2) At least one-third of the voters of the district to be taxed under the bond issue are voting for any other purpose. (3) If approval is required under the terms of section 1 of the Bond Issue Ordinance as it existed on June 15, 1983, the bond issue must include an ordinance to provide for an optional tax levy at the November 7, 2016, election. (4) If approval is required under the terms of section 1 of the Bond Issue Ordinance as it existed on June 15, 1983, the bond issue must have passed by referendum at or prior to the November 7, 2016, election. (5) This ordinance to levy an optional tax levy must be adopted and a bond issue approved by the voters within 20 days of the November 7, 2016, election. The optional tax levy must be funded from the incremental property tax increase resulting from the bond issue and may involve a base tax rate equal to at least two percent per year. The bond issue must provide for a property tax cap of not more than ten percent of the assessed value of all taxable property. (6) The Board of Equalization must be notified of the bond issue tax levy and the amount of the incremental property tax increase to be used, as is customary, for the benefit of schools and similar purposes. The notification must include the property tax rate for the new taxes. Res. 7 — Amend Sec.
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