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Special Council Meeting <br />September 10, 2024 <br />Page 2 <br />THE CITY OF PARIS IN CONFORMITY WITH THE CHARTER PROVISIONS AND <br />ORDINANCES OF THE CITY; MAKING OTHER FINDINGS AND PROVISIONS <br />RELATED TO THE SUBJECT; REPEALING ALL ORDINANCES OR PARTS OF <br />ORDINANCES IN CONFLICT HEREWITH; PROVING A SAVINGS CLAUSE; <br />PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE <br />DATE. <br />Mr. Anderson explained that each year the City Council must adopt a property tax rate <br />sufficient to fund the City budget as adopted by the Council. He said the City Council adopted <br />property tax rate of .46120 per $100 of valuation (0.31292 O&M rate and 0.14828 I&S rate). He <br />also said this rate should produce $8,530,000.00 for the General Fund and $3,812,626.00 for the <br />Interest & Sinking Funds from which debt payments were made. <br />A Motion that the property tax rate be increased by the adoption of a tax rate of $0.46120 <br />effectively a 5.71 percent increase in the tax rate was made by Council Member Norment and <br />seconded by Council Member Ellis. Those voting in favor were Mayor Pankaj, Mayor Pro -Tem <br />Savage, Council Member Ellis, and Council Member Norment. Council Member Putnam voted <br />against this item. Motion caried, 5 ayes — 1 nay. <br />5. Adjournment. <br />There being no further business, a Motion to adjourn was made by Mayor Pro -Tem <br />Savage and seconded by Council Member Moore. Motion carried, 6 ayes - 0 nays. Mayor Pankaj <br />adjourned the meeting at 5:38 p.m. <br />MI! R PAN <br />KAJ, MAYOR <br />