The Weekly Newspaper of Inglewood Daily News on a Weekly Basis - Herald Publications - Inglewood, Hawthorne, Lawndale, El Segundo, Torrance & Manhattan Beach Community Newspapers Since 1911 - Circulation 30,000 - Readership 60,000 (310) 322-1830 - July 20, 2017 “A Night to Remember” Celebrates Old School Music On July 15, attendees grooved to “Old School” music at the James R. Armstrong Theatre in nearby Torrance and enjoyed a concert featuring The Delphonics Experience, Soul Vibers Old School Review (pictured above during their set that showcased classic Motown hits) and Chemistry Sound. Photo by Daryl Lewis Property Tax Rates Secured For 2017-2018 Fiscal Year By Cristian Vasquez Manager and CFO David L. Esparza. The During a short meeting, members of the rate is per $100 of gross assessed valuation Inglewood City Council adopted Ordinance during the 1983-1984 fiscal year. No. 17-11 to secure a fixed property tax CalPERS is a defined benefit plan that rate for the fiscal year beginning October 1, offers retirement benefits based on a formula, 2017, in order to partially finance the City instead of sole contributions and earnings to of Inglewood’s fire and police retirement a savings plan. Benefits are estimate based system. on a member’s number of years of service It is estimated that the City’s annual and the age of retirement, along with final budget will benefit from $7.80 million in compensation--which is the average salary revenue for general fund monies through the defined for a period time of employment. inclusion of property tax rolls. However, the Each of the retirement formulas are based City is mandated to approve an ordinance every year in order to allow for the ongoing collection of the property tax revenue. The staff report indicates that on August Free Digital 30, 1983 the City approved Emergency Ordinance 2449 for the benefit of “fixing the Delivery amount of money necessary to be raised by taxation upon the taxable in Inglewood for Herald Publications is now the California Public Employees Retirement System (CalPERS).” Furthermore, it was offering to send you a link declared by the City Council back in 1983 to your favorite community that the tax required to be paid was to be newspaper every Friday! The “assessed pursuant the powers granted” emails will also include a list through Article 3, Section 4 of the City’s of upcoming local events. charter; and was to be used by the City to meet the financial obligations attached to Just email us at: participating in CalPERS, as approved by dd@heraldpublications.com and Inglewood voters. tell us which local community “The tax imposed by this ordinance newspaper you’d like. was set at a rate of 0.146958 cents per one hundred dollars of assessed property Simple as that and free!!! valuae and has remained unchanged in the 33 years that it has been in effect,” states the staff report signed by Assistant City on the following: classification, such as miscellaneous, safety, industrial, or peace officer/firefighter; membership category, such as any state, school or public agency employer; and specific provisions in the contract between a specific agency and CalPERS. In addition, there are three basic types of retirement: a disability retirement for employees no longer capable of performing See City Council page 8 Inside This Issue Certified & Licensed Professionals.......................4 Classifieds............................3 Community Briefs...............2 Finance..................................4 Hawthorne Happenings....3 Legals................................ 6-7 Pets........................................5 Seniors..................................2 Sports....................................8 Weekend Forecast Friday Sunny 74˚/66˚ Saturday Sunny 75˚/65˚ Sunday Partly Cloudy 75˚/65˚
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