Resolution No. 96-60' 4"k,...:
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CITY OF TIGARD, OREGON
g RESOLUTION NO. 96-
I A RESOLUTION ESTABLISHING AN INTEREST RATE TO BE USED IN DETERMINING THE
"",'A , :ANNUAL FEE ADJUSTMENT FOR REIMBURSEMENT DISTRICTS.
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WHEREAS, Tigard Municipal code section 13.09.115(2) stipulates that the tJ
Finance Director shall recommend an interest rate to the City Counc3.1 to
{ x, ( be used in determining the annual fee adjustment for reimbursement
:districts, and,
WHEREAS, The yield on a treasury bond security with a fifteen year
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maturity is 7.37%, which return theoretically could be recognized by the
sponsor of the improvement had the costs o£ construction been invested
for the same period, and, :i
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NOW, .THEREFORE,BE IT RESOLVED by the Tigard City Council that:
Section l: Theinterest rate established for 1996/97 for reimbursement .
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districts is 7.37%.
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Y PASSED: This day of Q'�-� 1996. D"'8—
E M�ayo -�City of Tigard ." 3
ATTEST: C6 U.nlil
City Recorder - City of Tiga ;,.
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,j RESOLUTION.NO. 96-
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