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RESOLUTION NO. 2016 - 23 A RESOLUTION ORDERING THE LEVY AND FIXING THE RATE OF PROPERTY TAXES TO BE COLLECTED IN THE CITY OF UNIVERSITY CITY FOR THE YEAR 2016 TO PROVIDE FOR GENERAL REVENUE, POLICE AND FIREFIGHTER RETIREMENT PLAN, AND FOR THE UNIVERSITY CITY LOOP SPECIAL BUSINESS DISTRICT AND THE PARKVIEW GARDEN SPECIAL TAXING DISTRICT WHEREAS, RSMo. 67.110. requires political subdivisions such as the City of University City to fix its ad valorem property tax rates not later than October first for entry in the tax books; and WHEREAS, the City of University City received the finalized assessed property valuations from St. Louis County on September 13, 2016 and subsequently calculated the proposed tax rates; and WHEREAS, the City of University City conducted a Public Hearing on the proposed tax rates on September 26, 2016 after due and proper notification in the St. Louis Countian (Missouri Lawyers Media), a newspaper of general circulation. NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY CITY AS FOLLOWS: Section 1. There is hereby levied for the year 2016 upon all real and personal property, subject to taxation, in the City of University City, Missouri, the following taxes for the following purposes, to wit: A. For general revenue purposes a tax of $0.569 on residential property, a tax of $0.546 on commercial property and a tax of $0.680 on personal property, on each one hundred dollars ($100.00) of assessed valuation. B. For Police and Firefighter Retirement purposes a tax of $0.165 on residential property, a tax of $0.148 on commercial property and a tax of $0.195 on personal property, on each one hundred dollars ($100.00) of assessed valuation. Section 2. There is hereby levied for the year 2016 upon all real property, subject to taxation, in the University City Loop Special Business District, an additional tax of said district of $0.586 for residential property and $0.498 for commercial property, on each one hundred dollars ($100.00) of assessed valuation. Section 3. There is hereby levied for the year 2016 upon all real property, subject to taxation, in the Parkview Gardens Special Taxing District, an additional tax of $0.598 for residential property and $0.850 for commercial property, on each one hundred dollars ($100.00) of assessed valuation. Section 4. This Resolution shall take effect and be in force from and after its passage as provided by law.