Pursuant to Section 200.065, Florida Statutes (F.S.), the Downtown Development Board has prepared a tentative budget and computed a proposed millage rate of 1.0000 per $1,000 of assessed property value. The proposed millage rate of 1.0000 is 22.88% lower than the roll-back rate of 1.2967. Section 200.065, F.S., requires the City to hold a public hearing on the proposed millage rate and tentative budget. The sequence of events during the public hearing is as follows:

1. Discussion of the proposed millage rate of 1.0000 being lower than the roll-back rate of 1.2967 by 22.88%.

2. Allow public comments and questions.

3. Amend the tentative budget and recompute the proposed millage rate, if necessary.

4. By separate motion and vote, adopt the proposed millage rate.

5. By separate motion and vote, adopt the tentative budget.