HomeMy WebLinkAboutOrdinances (O-06-1590)-09/19/2006
ORDINANCE 0-06-1590
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 2006-2007 FISCAL YEAR; ESTABLISHING
THE AD VALOREM TAX RATE OF THIRTY FOUR AND SEVENTY FOUR
HUNDREDTHS CENTS ($.3474) PER ONE HUNDRED DOLLARS PROPERTY
ASSESSMENT; PROVIDING FOR APPORTIONMENT OF TAXES FOR INTEREST AND
SINKING FUND FOR CERTAIN BOND INDEBTEDNESS AND FOR GENERAL
OPERATING NEEDS, PROVIDING PENALTIES AND INTEREST FOR THE
DELINQUENT TAXES, AND TO BECOME EFFECTIVE ON OCTOBER 1, 2006.
WHEREAS, a budget has been adopted by the City Council of the City of Colleyville,
Texas, covering the proposed expenditures of the municipal government of
the City of Colleyville for the fiscal year beginning October 1, 2006 and
ending September 30,2007; and
HEREAS, said budget reflects the needs for revenue to meet the expenses proposed
therein; and
HEREAS, the City is required to accumulate an Interest and Sinking Fund for certain
outstanding bond indebtedness.
OW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
OLLEYVILLE, TEXAS:
THAT there is hereby levied an ad valorem tax that shall be collected for the
use and support of the municipal government of the City of Colleyville. It
shall provide the legally required interest and sinking fund for certain
outstanding bond indebtedness during the 2006-2007 fiscal year. Such tax
shall be levied upon all property, real, personal or mixed within the corporate
limits of Colleyville, Texas, which is subject to taxation. The rate of tax shall
be thirty-four and seventy-four hundredths cents ($.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 $.27873 is levied.
B. For the Interest and Sinking Fund, a tax rate of $.06867 is levied.
Sec. 2.
Sec. 3.
Sec. 4.
Ordinance 0-06-1590
Page 2 of 2
THAT taxes levied by this ordinance shall be due and payable on the first
day of October 2006, and shall become delinquent on the first day of
February 2007, if unpaid. Upon taxes becoming delinquent, interest and
penalty will be added as required in Section 33.01 ofthe Texas Property Tax
Code, and shall commence on the first day of February 2007. 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.
THAT THIS TAX RATE WILL RAISE MORE TAXES FOR
MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX
RATE.
THAT THE TAX RATE WILL RAISE TAXES FOR MAINTENANCE
AND OPERATIONS ON A $100,000 HOUSE BY
APPROXIMATELY $10.20.
ND IT IS SO ORDERED.
he first Reading and Public Hearing being conducted on September 5, 2006.
he second Reading and Public Hearing being conducted on September 19, 2006.
ASSED, APPROVED AND ADOPTEQ. ey THE C~TY OUNCIL OF THE CITY OF
OLLEYVILLE, TEXAS, THIS THE/9?'?5 DAY 0 ~/7?'1~006 BYTHE
OLLOWING VOTE:
David Kelly au -e..... George Boll ~
Tony Licata ~ Rich Hendler
Jon Ayers \....0' Tom Hart
Mike Taylor
~
CITY OF COLLEYVILLE
dJ~~
David Kelly L-/ 0
Mayor
PPROVED AS TO FORM AND LEGALITY:
lJ). R~
atthew C. G. Boyle
ity Attorney