(A) Between March 7 and 28 of each and every year, the Common Council shall meet and ascertain the fiscal condition of the city and make an itemized statement setting forth:
(1) The amount due and the amount that will become due and collectible from every source during the ensuing fiscal year except from the levy of taxes to be made for the year;
(2) The interest, sinking fund, and amortization requirements for the ensuing fiscal year of bonded indebtedness, legally incurred upon a vote of the people as provided by law;
(3) All other expenditures to be paid out of the receipts of the city for the ensuing fiscal year with proper allowance for delinquent taxes, exonerations, and contingencies;
(4) The total amount necessary to be raised by the levy of taxes for the ensuing fiscal year;
(5) The proposed rate of levy in cents on each $100, or other amount deemed appropriate by the Municipal Court, assessed valuation of each class of property; and
(6) The separate and aggregate assessed valuations of real, personal, and public utility property in each class in the city.
(B) When the foregoing estimate and statement has been prepared, the session shall stand adjourned until the third Tuesday in April, at which time the Council shall reconvene.
(Prior Code, § 27-1)
Statutory reference:
For related provisions, see W. Va. Code 11-8-14