RESOLUTION NO. 02-03

RESOLUTION ADOPTING THE BUDGET

A RESOLUTION ADOPTING THE BUDGET, MAKING APPROPRIATIONS, DETERMINING, LEVYING AND CATEGORIZING THE ANNUAL AD VALOREM PROPERTY TAX LEVY FOR THE CITY OF SODAVILLE FOR THE FISCAL YEAR BEGINNING JULY 1, 2002 AND ENDING JUNE 30, 2003.

The City Council of the City of Sodaville finds that adopting the budget and making appropriations is necessary under ORS 294.305 to 294.576.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SODAVILLE, a Municipal Corporation of the State of Oregon, as follows:

Section 1.

That the Budget for the City of Sodaville, Oregon, for the year commencing July 1, 2002 and ending June 30, 2003, as set for in Exhibit “A” attached hereto is hereby adopted.

Section 2.

That the City Council of the City of Sodaville, Oregon makes appropriations for the purpose as set forth in the attached Exhibit “A”.

Section 3.

That the City Council of the City of Sodaville hereby imposes the taxes provided for in the adopted budget at the rate of .4552 per $1,000 of assessed value for General Fund Operations, in the amount of $4,029.00, and that these taxes are hereby imposed and categorized for the fiscal year beginning July 1,2002 [sic] and ending June 30, 2003 upon the assessed value of all taxable property within the City of Sodaville.

Section 4.

That the following allocation and categorization subject to the limits of section 11b, Article XI of the Oregon Constitution constitute the above aggregate levy:

Subject to the General Government Limitation

General Fund $ 4,029.00

Bonded Debt Fund 0.00

Total Levy $ 4,029.00

Excluded from the Limitations

Section 5.

That the City Administrator is hereby directed to certify the levies as herein made and set forth to the County Assessor of Linn County, Oregon, and shall file with the County Assessor two copies of the budget as finally adopted, and such other documents as required by ORS 294.55 (2).

Section 6.

That the fund titles as set forth in the attached Exhibit “A" are hereby adopted, and any fund titles in conflict therewith are repealed.

Exhibit A

I. A RESOLUTON ADOPTING THE BUDGET

Be it resolved that the City Council of the city of Sodaville hereby adopts the Budget approved by the Budget Committee on May 24, 2002, for 2002-2003, in the sum of $343,546.00 now on file at the Sodaville City Hall [sic]

II. RESOLUTION MAKING APPROPRIATIONS

Be it Resolved that the amount for the fiscal year beginning July 1, 2002 and for the purposes shown below are hereby appropriated as follows:

GENERAL FUND

Personal Services $17,300.00

Material & Services $16100.00

Capital Outlay $250.00

Contingency $1,750.00

Total General Fund Appropriation $35,355.00

STREET FUND

Personal Service $3,950.00

Material & Services $16,200.00

Capital Outlay $60,000.00

Contingency $5,363.00

Total $85,513.00

WATER ENTERPRISE FUND

Personnel Services $10,100.00

Material & Services $21,450.00

Capital Outlay $0.00

Debt Services $6,167.00

Transfers $0.00

Contingency $2,583.00

Total Water Enterprise Fund Appropriations $40,300.00

Capital Acquisitions Reserve Fund

Materials & Services $20,000.00

Capital Outlay $30,000.00

Contingency $46,815.00

Total Capital Acquisitions Reserve Fund $96,815.00

Major Repair and Maintenance Reserve Fund

Capital Outlay $50,000.00

Contingency $35,563.00

Total Major Repair and Maintenance Reserve Fund $85,563.00

III. RESOLUTION LEVYING AD VALOREM TAXES

Be it resolved that the City Council of the City of Sodaville hereby levies the taxes provided for in the adopted budget at the tax rate of 0.4552 per $ 1,000.00 and that these taxes are hereby levied on all taxable property within said district as of 1 am, January 1, 2003 [sic]. The following allocations constitute the above Resolution Levying Ad Valorem Taxes:

General Fund 0.4552 per $ 1,000.00

Passed by the Council this 25 day of June, 2002.