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CASSELBERRY CITY COMMISSION Minutes of July 22, 2024 — Regular Meeting Page 15 of IS reading, as presented. Motion was seconded by Commissioner Busch. Motion carried unanimously by voice vote 5-0. 12. OTHER ITEMS A. Tentative Tax Rate and Voted Debt Millage Rate for Fiscal Year 2024/2025 Staff Presentation: City Manager Randy Newlon gave a brief overview of this iteral and advised that on July 15, 2024 the City held the Budget Workshop for Fiscal Year 2025 at which time the City Commission reached a consensus on a tentative millage rate for Fiscal Year 2025 of 2.9000 mills. He added that the City Commission had also agreed by consensus to set the voted debt millage rate at 0.6633, 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 0.6633 mills for Fiscal Year 2025. 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 millage rate of 2.9000 will produce a tax levy of $7,332,538 in property taxes but will yield only $7,112,561 (97%) after considering early payer discounts and billing and collection costs. The voted debt millage rate of 0.6633 will produce a tax levy of $1,677,129 in voted debt taxes but will yield only $1,626,816 (97%) after considering early payer discounts and billing and collection costs. This is sufficient to cover the Parks General Obligation Bond FY 2025 debt service payments. Revenue will be budgeted in the FY 2025 Adopted Budget in Debt Service Fund Special Assessments/Capital Improvements account 201-0000-325.10-00. 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 0.6633 mills for FY 2025 as required by the "TRIM" 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 2024-2025. MOTION: Commissioner Busch moved to approve setting the tentative millage tax rate at 2.9000 mills and the voted debt millage rate at 0.6633 mills for Fiscal Year 2024-2025, as presented. Motion was seconded by Vice Mayor Aramendia. Motion carried unanimously by voice vote 5-0. B. Selection of Voting Delegate at the Florida League of Cities Annual Conference Introduction: The Florida League of Cities (FLC) has asked each municipality to designate one official to be the voting delegate for the Business Meeting scheduled for Saturday, August 17, 2024. Budget Impact: There is no impact to the City Budget.