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City Council Meeting August 24, 2000 Page 3 between the dates of September 1 lth to September 14th, one of those four days. City Attorney Schenk advised that the earliest that the City Council would be able to adopt the tax rate would be September 25th under any of these schedules, because State law requires that you not levy taxes until 30 days after the date the budget was presented. City Attorney Schenk also advised the City Council that until the budget has been approved you can not adopt the tax rate. After discussion, it was the consensus of the City Council to hold the public hearing on September 13, 2000, at 6:00 P. M. at the Red River Valley Fairgrounds, Building B, 1750 6th Street N. E. It was also the consensus of the City Council to schedule five budget workshops beginning Monday, August 28° 2000, beginning at 5:30 P. M. and to continue the meetings as needed. Mayor Pfiester stated that the next item on the agenda was a record vote on the tax rate for calendar year 2000 for the city of Paris. City Attorney Schenk said the purpose of this agenda item is to conform with State statutes regarding public notice on taxes. He said this is not a vote on the tax increase, it is a vote necessary incident to publishing notice on the public hearing whereby the vote is to consider the proposed tax increase in support of the budget. City Manager Malone pointed out that the way things are calculated in accordance with State law that the rollback tax rate would be 64.972 cents. City Manager Malone explained the rollback rate stating that when you raise the tax rate beyond the rollback, the public has an opportunity to petition an election to roll the tax back to its original rate and normally the city would not want to exceed the rollback rate. City Manager Malone said the 64.972 rate would generate $307.22 in taxes on an average home value of $47,286, if you set the tax rate at the rollback rate of 64.972, and that rate would cost the