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Resolution 1559RESOLUTION NO. 1559 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON, EXPRESSING THE CITY COUNCIL'S INTENTION TO COLLECT THE MAXIMUM ALLOWABLE PROPERTY TAX LEVY IN 2026. WHEREAS, the City of Edmonds is experiencing a budget crisis; and WHEREAS, it will likely take several years for the city to restore its fund balances to the reserve levels that the city has established by policy; and WHEREAS, the city council is considering placing a ballot measure before the city's voters in 2025 that would, if passed, annex the City of Edmonds into the South County Fire RF A; and WHEREAS, the administration is in the process of finalizing its proposed budget for the 2025- 2026 biennium; and WHEREAS, the administration's budget preparation work would benefit from understanding the city council's intentions with regard to the levy of property taxes for collection in 2026; and WHEREAS , the Council addressed this topic during the budget retreat held on August, 16, 2024; and WHEREAS, a public hearing on Future Property Tax Levy Implications of an RF A Annexation was held on September 10, 2024 with council deliberation; and WHEREAS, on September 17, 2024 by a vote of 6-1, Council directed the city attorney to draft a resolution stating that the city council intended to levy the maximum allowable levy amount for collection in 2026; and WHEREAS, the city council seeks to be as transparent as possible with the city's voters about the city's likely future financial needs , particularly with the possibility of those voters being asked to approve an annexation into the RF A; and WHEREAS, even if one assumes annexation into the RF A, the city would not be able to sustainably support its traditional levels of service by reducing its property tax levy; now therefore, THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON, HEREBY RESOLVES AS FOLLOWS: Section 1. The Edmonds City Council intends to levy the maximum allowable property tax levy for collection in 2026, even if it decides to place RF A annexation on the ballot, and even if the voters approve such annexation in 2025. RESOLVED this 24th day of September, 2024. ATTEST: ~PASSEY FILED WITH THE CITY CLERK: PASSED BY THE CITY COUNCIL : RESOLUTION NO. CITY OF EDMONDS September 19, 2024 September 24, 2024 1559