Laserfiche WebLink
(e) The proposition or proposal to amend Section 56 of the <br />Charter of the City of Redwood City to read as follows, to -wit: <br />r Section v6. JIMIT OF TAX" <br />LEVY: The tax levy authorized by <br />the Council to meet the municipal <br />expenses for each Oscal year shall <br />not exceed the rate of one dollar <br />fifty cents on each one hundred <br />dollars of the assessed valuation <br />of the real and personal property. <br />within the city, except as in this <br />charter otherwise provided, when <br />the, assessed valuation is that asl <br />fixed and established by the Couu-� <br />ty of San Mateo; provided, hov."- <br />ever, that if the assessed valuation <br />is that as established by the. City <br />of Redwood City the tax levy au- <br />thoMzed by the Council to meet <br />the municipal expenses for each <br />fiscal year shall not exceed the <br />rate of one dollar on each one <br />hundred dollars of such assessed <br />valuation. The moneys collected <br />from ssuch levy shall be placed in <br />the general fund of the city, and <br />may be apportioned as determined <br />by the Council. <br />The foregoing limitation shall <br />not apply in the event of any ma- <br />jor catastrophe, in which case it <br />may he temporarily suspended; <br />provided, that no increase over <br />said limit, except as herein pre- <br />scribed, shall be made in any fis- <br />cal year, unless authorized by or- <br />dinance adopted by the vote of the <br />electors of_„thg> %} y.. <br />I <br />