Resolution No. 99-21 CITY OF TIGARD,OREGON
RESOLUTION NO.99-2
A RESOLUTION ESTABLISHING AN INTEREST RATE TO BE USED IN DETERMINING THE
ANNUAL FEE ADJUSTMENT FOR.REIMBURSEMENT DISTRICTS.
WHEREAS, Tigard Municipal Code section 13.09.115 (2) stipulates that the Finance Director shall
recommend an interest rate to the City Council to be used in determining the annual fee adjustment for
reimbursement districts,and
WHEREAS, The yield on a treasury bond security with a fifteen year maturity is 5.55%, which return
theoretically could be recognized by the sponsor of the improvement had the costs of construction been
invested for the same period,and,
NOW,THEREFORE,BE IT RESOLVED by the Tigard City Council that: (enter info here)
SECTION 1: The_nter st rate established f r 1998/99 f r re;rnb,- nt dis*^c*.s.s 5.550!.
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PASSED: This air day of Ch- 1999.
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or-City of Tigard
ATTEST:
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City Recorder-City of Tigard _
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RESOLUTION NO.99-Q
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