HomeMy WebLinkAboutOrdinances (O-05-1541)-09/20/2005
ORDINANCE 0-05-1541
I 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 2005-2006 FISCAL YEAR; ESTABLISHING
THE AD VALOREM TAX RATE OF THIRTY FOUR AND SEVENTY FOUR
I HUNDREDTHS CENTS ($.3474) PER ONE HUNDRED DOLLARS PROPERTY
ASSESSMENT; PROVIDING FOR APPORTIONMENT OF TAXES FOR INTEREST AND
SINKING FUND FOR CERTAIN BOND INDEBTEDNESS AND FOR GENERAL
OPERATING NEEDS, PROVIDING PENALTIES AND INTEREST FOR THE
DELINQUENT TAXES, AND AN EFFECTIVE DATE OF OCTOBER 1, 2005.
WHEREAS, a budget has been adopted by the City Council of the City of Colleyville,
Texas, covering the proposed expenditures of the municipal government of
the City of Colleyville for the fiscal year beginning October 1, 2005, and
ending September 30, 2006; and
WHEREAS, said budget reflects the needs for revenue to meet the expenses proposed
therein; and
WHEREAS, the City is required to accumulate an Interest and Sinking Fund for certain
outstanding bond indebtedness; and
WHEREAS, all statutory and constitutional requirements for the passage of this
Ordinance have been adhered to, including but not limited to the Open !
Meeting Act and the Texas Tax Code; and
WHEREAS, the City Council determines that the passage of this Ordinance is in the best
interests of the health, safety, and welfare of the public.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
THAT all matters stated hereinabove are found to be true and correct and
are incorporated herein by reference as if copied in their entirety,
Sec. 2.
THAT there is hereby levied an ad valorem tax that shall be collected for the
use and support of the municipal government of the City of Colleyville. It
shall provide the legally required interest and sinking fund for certain
outstanding bond indebtedness during the 2005-2006 fiscal year. Such tax
shall be levied upon all property, real, personal or mixed within the corporate
limits of Colleyville, Texas, which is subject to taxation. The rate of tax shall
be thirty-four and seventy-four hundredths cents ($,3474) 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 $.27771 is levied,
B. For the Interest and Sinking Fund, a tax rate of $.06969 is levied,
Ordinance 0-05-1541
Page 2 of 2
Sec. 3.
THAT taxes levied by this ordinance shall be due and payable on the first
day of October 2005, and shall become delinquent on the first day of
February 2006, 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 2006. 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.
Sec. 4.
THAT THIS TAX RATE WILL RAISE MORE TAXES FOR
MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX
RATE.
Sec. 5.
THAT This Ordinance shall become effective on October 1, 2005.
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on September 6, 2005.
The second reading and public hearing being conducted on September 20, 2005.
PASSED, APPROVED AND ADOPTED BY THE CITY COUNCil OF THE CITY OF
COLLEYVILLE, TEXAS, THIS THE .:l () W. DAY O~ 2005 BY THE
FOllOWING VOTE:
George Boll ~t Tony Licata a...!j e.-.
Rich Hendler ~ G Jon Ayers a:J e...
Tom Hart a..:Je
Cynthia Singleton, TRMC
City Secretary
CITY OF COLLEYVILLE
;t'<--JU25~1
David Kelly
Mayor
A;i~~~
APPROVED AS TO FORM AND LEGALITY:
~ 0). r,V\
Matthew C.G. Boyle
City Attorney