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Session 1932 August 16, 2004 adjustments every year made by the County Assessor for improvement to properties, for new properties on the market, and for appeals of last year's assessed values. Every year there are some adjustments, but the general cross-the-board adjustment is every other year, and that is not this year. Last year was a general adjustment, next year will be a general adjustment, and this year's adjustment is for specific properties changed in some manner. Mayor Adams added that the counties are mandated by the State of Missouri to do this and added that St. Louis City, St. Louis County and perhaps Kansas City are the only places following this mandate; other municipalities try to avoid it. Ms. Welsch asked if at the next budget cycle when the next year's proposed budget is under discussion, will she need to ask if meeting this budget will mean increasing property taxes? She needs clarification about where the flexibility and where the limits lie. Mayor Adams said there is a maximum which can be imposed without need for a citizen vote, and Mr. Ollendorff advised the City had reached that point now. Mr. Ollendorff then said there are several different tax rates, but the only two levied currently city-wide, are the General Fund and the University City Public Library. Both of those are currently at the maximum level allowed by the State without a vote of the people. Those rates were adjusted in June to remain at the maximum allowed; now the State stipulated that the total assessed value changed, so the tax rate must be increased or decreased by a cent to compensate for the change in the total assessed value. Currently, the Library and General Fund University City property tax rates are being adjusted for the changes in valuation as certified by the State. Two other rates to be set tonight are for the two special business districts, Parkview Gardens and U City Loop Special Business District, and everything said previously applies to them. AGENDA ITEM #5 - Public Hearinq on Floodplain Ordinance August 16 at 7:30 p.m. in these Council Chambers is the time and place for a public hearing on the proposed floodplain management ordinance. This ordinance is recommended by the State of Missouri in order to meet all current requirements of the Federal Government. The ordinance has been reviewed and approved by the city attorney and the City's Plan Commission following detailed analysis by the public works department which is our management agency. Mayor Adams declared the Public Hearing open at 7:55 p.m. and since no one wanted to speak on this issue, he declared the Public Hearing closed at 7:55 p.m. AGENDA ITEM #6 - Recreation Facility Project Chan.qe Orders The City Manager recommended approval of seven change orders resulting in a cost savings of $47,000 in accordance with detailed descriptions requested by and furnished to City Council. Each item saves money without sacrificing quality or energy efficiency. The changes include revised specifications for asphalt, duct covering, roof composition, Page 6