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7. STAFF REPORTS (CONTINUED) A. Bond Service Tax Rates – 2005 -2006 General Improvement District 1 -64 Financial Services Manager Freeman explained this report. Recommendation: It is recommended that the attached ordinance setting the tax rates for General Improvement District No. 1 -64 be introduced. WS Foust/Aguirre to introduce: AN ORDINANCE FIXING THE AMOUNT OF MONEY TO BE RAISED BY TAXATION UPON THE TAXABLE PROPERTY WITHIN GENERAL IMPROVEMENT DISTRICT NO. 1 -64 TO PROVIDE FUNDS FOR GENERAL IMPROVEMENT DISTRICT NO. 1 -64, AND FIXING AND LEVYING THE TAX RATE THEREFOR The motion passed by a unanimous voice vote by those present with Council Member Howard absent (511) MINUTE ORDER 05 -141 8. PUBLIC HEARINGS (CONTINUED) B. Fiscal Year 2005/06 Budget – City Council Financial Services Manager Freeman explained that the study sessions occurred on June 20 and 27 and the budget is submitted with the revisions to increase the CDS funding to include a part-time traffic engineer position. This increase is offset by a decrease in employee development, CDS professional services and the balance to come from anticipated fee increases. Mayor Ira opened the public hearing. M/S Foust/Aguirre to close the public hearing. The motion passed by a unanimous voice vote by those present with Council Member Howard absent, Recommendation: MIS Foust/Bain to introduce: AN ORDINANCE OF THE CITY OF REDWOOD CITY ADOPTING THE FINAL BUDGET OF THE CITY OF REDWOOD CITY FOR FISCAL YEAR JULY 1, 2005 - JUNE 30, 2006; PROVIDING FOR THE APPROPRIATION AND EXPENDITURE OF ALL SUMS SET FORTH IN SAID BUDGET; PROVIDING FOR EMERGENCY EXPENDITURES, TRANSFERS, ADDITIONAL APPROPRIATIONS, CANCELLATIONS AND REAPPROPRIATIONS OF EXISTING APPROPRIATIONS; ADOPTING JOINT MEETING JULY 11, 2005 CITY COUNCIL AND BOARD OF EQUALIZATION PAGE 13 MINUTE ORDER BOOK NO. 60 Page No. 531