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ORDINANCE NO. 4838-1301 <br /> AN ORDINANCE OF THE MAYOR AND COUNCIL OF THE CITY OF PRESCOTT, <br /> YAVAPAI COUNTY, ARIZONA, LEVYING UPON THE ASSESSED VALUATION OF <br /> THE PROPERTY WITHIN THE CITY OF PRESCOTT, SUBJECT TO TAXATION, A <br /> CERTAIN SUM UPON EACH ONE HUNDRED DOLLARS ($100.00) OF VALUATION <br /> SUFFICIENT TO RAISE THE AMOUNT ESTIMATED TO BE REQUIRED IN THE <br /> ANNUAL BUDGET, LESS THE AMOUNT ESTIMATED TO BE RECEIVED FROM <br /> OTHER SOURCES OF REVENUE; PROVIDING FUNDS FOR VARIOUS BOND <br /> REDEMPTIONS FOR THE PURPOSE OF PAYING INTEREST UPON BONDED <br /> INDEBTEDNESS, AND PROVIDING FUNDS FOR THE GENERAL MUNICIPAL <br /> EXPENSES, ALL FOR THE FISCAL YEAR ENDING THE 30TH DAY OF JUNE, 2013 <br /> RECITALS: <br /> WHEREAS, by the provisions of State law, the ordinance levying taxes for Fiscal <br /> Year 2012-13 is required to be finally adopted not less than fourteen days after adoption <br /> of the annual budget; and <br /> WHEREAS, the County of Yavapai is the assessing and collecting authority for <br /> the City of Prescott, the Clerk is hereby directed to transmit a certified copy of this <br /> ordinance to the County Assessor and the Board of Supervisors of the County of <br /> Yavapai, Arizona. <br /> ENACTMENTS: <br /> BE IT ORDAINED BY THE COUNCIL OF THE CITY OF PRESCOTT AS <br /> FOLLOWS: <br /> SECTION 1. THAT, there is hereby levied on each one hundred dollars <br /> ($100.00) of the assessed value of all property, both real and personal, within the <br /> corporate limits of the City of Prescott, except such property as may be by law exempt <br /> from taxation, a primary property tax rate sufficient to raise the sum of $1,095,856.00 for <br /> the Fiscal Year ending on the 30th day of June, 2013. If such sum exceeds the <br /> maximum levy allowed by law, the Board of Supervisors or the County of Yavapai is <br /> hereby authorized to reduce the levy to the maximum amount allowed by law after <br /> providing notice to the City. <br /> SECTION 2. THAT, in addition to the rate set in Section 1 hereof, there is <br /> hereby levied on each one hundred dollars ($100.00) of assessed valuation of all <br /> property, both real and personal, within the corporate limits of the City of Prescott, <br /> except such property as may be by law exempt from taxation a secondary property tax <br /> rate sufficient to raise the sum of $1,584,975.00, but not more than the actual general <br /> obligation bond debt service due during the year for the purpose of providing a bond <br />