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CASSGLBERRY CITY COMMISSION Minutes of July 25, 2022 — Regular Meeting Page 15 of 20 Recommendation: The City Manager, the Community Development Director and the Public Works & Utilities Director recommended adoption of Ordinance 22-1568 on second and final reading. Public Hearing: Mayor Henson stated this was a public hearing to hear and consider comments and questions regarding Ordinance 22-1568. Mayor Henson opened the floor for public participation. No one came forward to address Ordinance 22-1568. Mayor Henson closed the public hearing relative to Ordinance 22-1568. MOTION: Vice Mayor Aramendia moved to adopt Ordinance 22-1568 on second and final reading, as presented. Motion was seconded by Commissioner Busch. Motion carried unanimously by voice vote 4-0. 12. OTHER ITEMS A. Tentative Tax Rate and voted Debt Millage Rate for Fiscal year 2022/2023 Staff Presentation: City Manager Randy Newlon gave a brief overview of this item and advised that on July 11, 2021 the City held the Budget Workshop for Fiscal Year 2023 at which time the City Commission reached a consensus on a tentative millage rate for Fiscal Year 2023 of 2.9000 mills. He added that the City Commission had also agreed by consensus to set the voted debt millage rate at 0.6443 mills, which will fund the debt service payments for the parks improvement projects approved by the voters. This item is now brought to the City Commission for formal approval of a tentative millage rate of 2.9000 mills and a voted debt millage rate of 0.6443 mills for Fiscal Year 2023. Upon approval, the tentative millage rate and voted debt millage rate will be certified to the Seminole County Property Appraiser in accordance with TRIM (Truth in Millage) procedures and deadlines. Budget Impact: The treillage rate of 2.9000 will produce a tax levy of $6,156,611 in property taxes but will yield only $5,971,913 (97%) after accounting for early payer discounts and billing and collection costs. The voted debt millage rate of 0.6443 will produce a tax levy of $1,357,963 in voted debt taxes but will yield only $1,326,796 (97%) after accounting for early payer discounts and billing collection costs. This is sufficient to cover the Parks General Obligation Bond FY23 debt service payments. Revenue will be budgeted in the FY 2023 Adopted Budget in Debt Service Fund Special Assessments/Capital Improvements account 201-0000-3 25. 10-00. Recommendation: The City Manager and the Finance Director recommended approval to set the tentative millage rate at 2.9000 mills and the voted debt millage rate at 0.6443 mills for FY 2023 as required by the TRIM (Truth in Millage) legislation. Audience Participation: No one came forward to address the City Commission regarding the tentative millage rate and voted debt millage rate for Fiscal Year 2022/2023.