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Last modified
5/20/2025 4:49:05 PM
Creation date
9/16/2024 10:55:11 AM
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Contracts
Company Name
METROPOLITAN WATER DISTRICT
Contract #
A-2004-072
Agency
Public Works
Council Approval Date
4/19/2004
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Section 5. <br />BOND LEVY <br />For the purposes of paying the anneal interest on the outstanding bonded indebtedness of MWD of SC incLirred as <br />a result of approval by the voters residing within MWD oFSC and Such part of the principal ofsuch bonds as <br />shall become due before the time when money will be available from the next general tax levy, or such portion <br />thereof as shall not be met from previous levies or other revenues of the District, <br />The amount of money necessary to be raised by ad valorem property taxation during the fiscal year is the <br />sum set forth in the last line in column #2 of Schedule A. <br />b. The rate of such taxation of .MWD of SC for the fiscal year 2009/2010 upon secured taxable property <br />within MWD of SC hereby is fixed and levied at .0022% of assessed valuation. The rate of such taxation <br />for the fiscal year 2009/2010 upon unsecured taxable property is the rate fixed and levied for the <br />preceding year applicable to secured taxable property, as required by operation of law. <br />C. The amounts of money necessary to be derived from said levy are set forth in Column #4 of Schedule B, <br />including the amounts of money to be derived from the area of MWD of SC within each separate <br />municipality. <br />Section 6. <br />STATE WATER CONTRACT LEVY <br />For the purpose of raising funds in excess of those funds raised under Section 4 of this Resolution, necessary and <br />sufficient to provide for payments due or to become clue within the current fiscal year or within the following <br />fiscal year before the time when money will be available from the next tax levy, or such portion thereof as shall <br />not be met from previous levies or other revenues of the District under the <br />"CONTRACT BETWEEN THE STATE OF CALIFORNIA DEPARTMENT OF <br />WATER RESOURCES AND THE METROPOLITAN WATER DISTRICT OF <br />SOUTHERN CALIFORNIA FOR A WATER SUPPLY, dated November 4, <br />1960" (State Water Contract): <br />a. The amount of money necessary to be raised by ad valorem property taxation during the fiscal year in <br />excess of the sum raised under Section 4 of this Resolution is the sum set Cor(h in the last line of <br />Column #3 of Schedule A. <br />b. The rate of such taxation of MWD of SC for the fiscal year 2009/20 10 upon secured taxable property <br />within MWD of SC hereby is fixed and levied at .0021% of assessed valuation. The rate of such taxation <br />for the fiscal year 2009/2010 upon the unsecured taxable property is the rate fixed for the preceding year <br />applicable to secured taxable property, as required by operation of law. <br />G. The amounts oi' money necessary to be derived from said levy are set Forth in column #5 of: Schedule B, <br />including the amounts of.'moncy to be derived from the area of N1WD of SC within each separate <br />municipality. <br />
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