Pacific Grove Municipal Code Art. 32 Limit and Apportionment of the Tax Levy

The tax levy authorized by the Council to meet the municipal expenses for each fiscal year shall not exceed the rate of One Dollar and Fifty-eight cents on each One Hundred Dollars of the assessed valuation of the real and personal property within the City, except as in this Charter otherwise provided. The moneys collected from such levy shall be placed in the general fund of the City and may be apportioned in separate funds as determined by the Council.

No transfer of money shall be made from one fund to another, except of balance in excess of the amount required in a fund or from the general fund to meet deficiencies, or to provide for the redemption of City bonds.

The foregoing limitation shall not apply in the event of any great necessity or emergency, in which case it may be temporarily suspended, provided that no increase over said limit, except as herein prescribed, shall be made in any fiscal year, unless authorized by ordinance adopted by the vote of the electors of the City.