HomeMy WebLinkAboutOrdinances (O-94-960)-09/20/1994
ORDINANCE 0-94-960
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF COLLEYVILLE, TEXAS,
LEVYING TAXES FOR THE OPERATION OF THE MUNICIPAL GOVERNMENT OF THE
CITY OF COLLEYVILLE, TEXAS, FOR THE 199~95 FISCAL YEAR; ESTABLISHING
THE AD VALOREM TAX RATE OF THIRTY TWO AND SIXTY THREE HUNDREDTHS
CENTS ($.3263) PER ONE HUNDRED DOLLARS PROPERTY ASSESSMENT;
PROVIDING FOR APPORTIONMENT OF TAXES FOR INTEREST AND SINKING FUND
FOR CERTAIN BOND INDEBTEDNESS AND FOR GENERAL OPERATING NEEDS,
AND PROVIDING PENALTIES AND INTEREST FOR THE DELINQUENT TAXES TO
BECOME EFFECTIVE ON OCTOBER 1, 1994.
WHEREAS, a budget has been adopted by the City Council of the City of Colleyville,
Texas, covering the proposed expenditures of the municipal government of
the City of Colleyville for the fiscal year beginning October 1, 1994 and
ending September 30, 1995, and,
WHEREAS, said budget reflects the needs for revenue to meet the expenses proposed
therein; and,
WHEREAS, the City is required to accumulate an Interest and Sinking Fund for certain
outstanding bond indebtedness;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVI LLE, TEXAS:
Sec. 1.
Sec. 2.
THAT there is hereby levied an ad valorem tax that shall be collected for
the use and support of the municipal government of the City of Colleyville.
It shall provide the legally required interest and sinking fund for certain
outstanding bond indebtedness 1994-95 fiscal or budget year. Such tax
shall be levied upon all property, real, personal or mixed within the
corporate limits of Colleyville, Texas, which is subject to taxation. The rate
of tax shall be thirty two and sixty three hundredth cents ($.3263) on each
one hundred dollars ($100.00) property assessment. Said tax levied for
and apportioned to the following specific purposes:
A. For the General Fund, a tax rate of $.2450 is levied.
B. For the Interest and Sinking Fund, a tax rate of $.0813 is levied.
Taxes levied by this ordinance shall be due and payable on the first day of
October, 1994, and shall become delinquent on the first day of February,
1995, if unpaid. Upon taxes becoming delinquent, interest and penalty will
be added as required in Section 33.01 of the Texas Property Tax Code, and
shall commence on the first day of February, 1995. The City of Colleyville
is hereby authorized to adopt any and all legal remedies provided by the
Texas Property Tax Code for the purpose of collecting delinquent taxes.
"-T-n
The first Reading and Public Hearing being conducted on August 16, 1994.
The second Reading and Public Hearing being conducted on September 6, 1994.
The third Reading and Public Hearing being conducted on September 20, 1994.
PASSED, APPROVED AND ADOPTED BY THE CITY COUNCil OF THE CITY OF
COllEYVlllE,TEXAS,THISTHE lot!.. DAYOF ~5("-f-ffl.~ber ,1994BYTHE
FOllOWING VOTE:
Jim Moore
Jack Martin
John Grace
Manny Montes
Don Butler
aVl
,
t1.y~
fLy'
ATTEST:
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City Secretary
APPROVED:
Cheryl Feigel
Mayor
APPROVED AND TO FORM AND LEGALITY:
T~
Ross T. Foster
City Attorney
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IF THE MAYOR SHALL
NEGLECT TO APPROVE OR
OBJECT TO ANY SUCH
PROCEEDINGS FOR A LONGE
PERIOD THAN SEVEN (7)
DAYS AFTER THE ORDINANC
OR RESOLUTION IS PLACED
IN THE OFFICE OF THE
CITY SECRETARY AS AFORE-
SAID, THE SAME SHALL
BECOME EFFECTIVE IMMED-
IATELY UPON PUBLICATION
AS REQUIRED BY LAW.
SECTION 3.14 - CITY CHA TER
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