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On or before the first Monday in June of each year, or on such date in each year as shall be fixed by the mayor and council, the manager shall submit to the mayor and council the estimates of each department and his own personal report and recommendation and estimate as to the probable expenditures of the city for the next ensuing fiscal year, stating the amount in detail required to meet all expenditures necessary for city purposes, including interest and sinking funds, and outstanding indebtedness, if any there be; also an estimate of the amount of income expected from all sources in each department, and the probable amount required to be raised by taxation to cover such expenditures, interest and sinking fund.
The mayor and council shall meet annually prior to fixing the tax levy, and make a budget of the estimated amounts required to pay the expenses of conducting the business of the city for the ensuing fiscal year. The budget shall be prepared in such detail as to show the aggregate sum and the items thereof allowed for each and every purpose, and such budget, together with a notice that the mayor and council will meet for the purpose of making tax levies, in accordance with said budget, at the time and place set out in said notice, shall be published in the official newspaper of the city once a week for at least two (2) consecutive weeks following the tentative adoption of such budget.
(Ord. No. 1142, eff. 6-23-48)
The mayor and council shall meet one (1) week previous to the day on which tax levies are made, and at the time and place designated in such notice, when and where any taxpayer who may appear shall be heard in favor of or against any proposed tax levy. When such hearing shall have been concluded, the mayor and council shall adopt the budget as finally determined upon. All taxes shall be levied or voted upon in specific sums, and shall not exceed the sum specified in such published estimate.
(Ord. No. 1142, eff. 6-23-48)
On the day set for making tax levies, and not later than the third Monday in August, the mayor and council shall meet and adopt an ordinance levying upon assessed valuation of property within the city, subject to the provisions of this Charter, a rate of taxation upon each one hundred dollars ($100.00) of the assessed value of all real and personal property within the city for municipal expenses, sufficient to raise the amounts estimated to be required in the annual budget, less the amount estimated to be received from fines, licenses and other sources of revenue.
(Ord. No. 1142, eff. 6-23-48)
The mayor and council shall have the power to levy and collect taxes in addition to the taxes herein authorized to be levied and collected, sufficient to pay the interest and maintain the sinking fund of the bonded indebtedness of the city, and to provide for the establishment and support of free public libraries, and for advertising the advantages of the city.
Annotation--The authority to collect taxes to advertise the city is not subject to the limitation of amount imposed by A.R.S. § 9-493. City of Tucson v. Sunshine Climate Club, 64 Ariz. 1, 164 P. 2d 598.
Cross References: Limitations on ad valorem tax, ch. IV, § 2.
There shall be exempt from taxation all federal, state, county and municipal property; property of educational, charitable and religious associations and institutions not used or held for profit shall be exempt from taxation.
Public debts, as evidenced by the bonds of Arizona, its counties, municipalities, or other subdivisions, shall be exempt from taxation. There shall further be exempt from taxation the property of widows and others, residents of this city, where by the laws of the state such property is made exempt from the state and county taxation.
All property in the city not exempt under the laws of the United States, the laws of the State of Arizona, under the Charter and ordinances of this city, shall be subject to taxation, to be ascertained as provided by ordinance.
No tax shall be levied except in pursuance of this Charter and the laws of the State of Arizona, and every ordinance imposing a tax shall state distinctly the object of the tax, to which object only it shall be applied.
(Ord. No. 1142, eff. 6-23-48)
The mayor and council shall cause the city's monies, other than sinking funds, to be deposited in any bank or banks in the city designated by said mayor and council, upon sufficient security, of the kind and character mentioned in the following section, to assure the safety of any such deposit or deposits, being given the city therefor by said bank or banks, said security to be approved by the mayor and council.
Said monies shall at all times be deposited in or with any such bank at the best obtainable rate of interest per annum on the daily balance of such deposits, to be computed monthly.
(a) Sinking Funds. All city monies collected or held as sinking funds, and interest thereon, shall be deposited by ordinance or policy of the governing body in those investments as set forth in the Arizona Revised Statutes as being permissible investments for state monies.
(b) Surplus and Idle Funds. All city monies which are surplus funds or idle funds, and interest thereon, shall be invested as provided by ordinance or policy of the governing body in those investments as set forth in the Arizona Revised Statutes as being permissible investments for state monies.
(Ord. No. 4086, § 1, eff. 11-28-73; Ord. No. 7684, § 1, eff. 12-30-91)
Editors Note: Section 12 was amended in its entirety by Ord. No. 7684, adopted Sept. 3, 1991; approved at referendum Nov. 5, 1991; certified by the mayor Nov. 12, 1991; and approved by the governor Dec. 30, 1991.
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