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Regular Council Meeting August 24, 2015 Page 4 A Motion to approve this item was made by Council Member Pickle and seconded by Council Member Plata. Motion carried, 5 ayes — 0 nays. 16. Discuss the 2015 -2016 budget for the City of Paris, and act on RESOLUTION NO. 2015- 033: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, CALLING A PUBLIC HEARING FOR SEPTEMBER 8, 2015 ON THE CITY MANAGER'S PROPOSED BUDGET FOR FISCAL YEAR 2015 -2016. Finance Director Gene Anderson explained the purpose of this item was to schedule the public hearing on the City Manager's proposed budget as required by the Charter and State Law. Mr. Anderson said that there was a special meeting scheduled for August 31St to discuss any changes in the budget. Mayor Pro -Tem Lancaster confirmed with Mr. Anderson this was to discuss the budget and not approve it. Council Member Pickle inquired if they would be able to make changes to the budget on August 31 and Mr. Anderson answered in the affirmative. Council Member Plata inquired the amount of tax rate included in the proposed budget. Mr. Anderson told him it was $0.50195, which is the same rate as current. Mr. Anderson said when they got to item 17 he would make a comment as to what the City Manager would like to see prior to Council voting on the hearings on the tax rate. A Motion to approve this item was made by Council Member Pickle and seconded by Council Member Clifford. Motion carried, 5 ayes — 0 nays. 17. Discuss and act on RESOLUTION NO. 2015 -034: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, CALLING TWO PUBLIC HEARINGS TO RECEIVE PUBLIC COMMENT ON THE CITY'S PROPOSED PROPERTY TAX RATE FOR FISCAL YEAR 2015 -2016. Mr. Anderson said State Law requires a notice be published regarding the tax rate which reflects the proposed tax rate, the preceding year's tax rate, the effective tax rate and the rollback tax rate. He also said that two public hearings needed to be scheduled for September 8 and September 14. Referencing the City Manager's memo to Council, Mr. Anderson said Mr. Godwin would like to see this notice published with a proposed rate of $0.51195 which was a one cent increase from the current rate. Mr. Anderson explained if they publish with the one cent increase the rate could be lowered at the August 31 meeting, but if they publish it at $0.50195 it could not be increased at the August 31 meeting because there would not be enough time to publish and meet State Law. Mr. Anderson said Mr. Godwin would like to publish this notice at $0.51195 and if that is not Council wants to do after the August 31 meeting, they could lower it back down to the current rate. He explained that this was not obligating City Council to adopt a one cent tax rate increase, but just made it possible should they want to do so. Council Member Pickle said he did not have a problem with posting it, but had some adjustments they could discuss next week which would result in keeping the current tax rate. Council Member Clifford inquired as to what kind of increase in revenue would a tax rate $0.51195 generate and Mr. Anderson estimated about $150,000.