HomeMy WebLinkAboutOrdinances (O-07-1637)-09/18/2007ORDINANCE 0-07-1637
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 2007-2008 FISCAL YEAR; ESTABLISHING
THE AD VALOREM TAX RATE OF THIRTY-FIVE AND FIFTY-NINE HUNDREDTHS
CENTS ($.3559) PER ONE HUNDRED DOLLARS PROPERTY ASSESSMENT;
PROVIDING FOR APPORTIONMENT OF TAXES FOR INTEREST AND SINKING FUND
FOR CERTAIN BOND INDEBTEDNESS AND FOR GENERAL OPERATING NEEDS,
'', PROVIDING PENALTIES AND INTEREST FOR THE DELINQUENT TAXES, AND TO
', BECOME EFFECTIVE ON OCTOBER 1, 2007
WHEREAS, a budget has been adopted by the City Council of the City of Colleyville,
Texas, covering the proposed expenditures of the municipal government of
the City of Colleyville for the fiscal year beginning October 1, 2007 and
ending September 30, 2008; and
WHEREAS, said budget reflects the needs for revenue to meet the expenses proposed
therein; and
WHEREAS, the City is required to accumulate an Interest and Sinking Fund for certain
outstanding bond indebtedness.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1. THAT there is hereby levied an ad valorem tax that shall be collected for the
use and support of the municipal government of the City of Colleyville. It
shall provide the legally required interest and sinking fund for certain
outstanding bond indebtedness during the 2007-2008 fiscal year. Such tax
shall be levied upon all property, real, personal or mixed within the corporate
limits of Colleyville, Texas, which is subject to taxation. The rate of tax shall
be thirty-five and fifty-nine hundredths cents ($.3559) 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 $.28299 is levied.
B. For the Interest and Sinking Fund, a tax rate of $.07291 is levied.
Ordinance 0-07-1637
Page 2 of 2
Sec. 2. THAT taxes levied by this ordinance shall be due and payable on the first
day of October 2007, and shall become delinquent on the first day of
February 2008, 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 2008. 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. 3. THAT THIS TAX RATE WILL RAISE MORE TAXES FOR
MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX
RATE.
Sec. 4. THAT THE TAX RATE WILL RAISE TAXES FOR MAINTENANCE
AND OPERATIONS ON A $100,000 HOUSE BY
APPROXIMATELY $4.26.
AND IT IS SO ORDERED.
The first Reading and Public Hearing being conducted on September 4, 2007.
The second Reading and Public Hearing being conducted on September 18, 2007.
PASSED, APPROVED AND ADOPTED. ~Y THE CITY OUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS, THIS THE ~ DAY 007 BY THE
FOLLOWING VOTE:
David Kelly ~ e-
Tony Licata
Jon Ayers ~~
~,se.~v~`
Mike Taylor ~~
Carol Wollin ~~--
Rich Hendler ~~e~vZ`
Tom Hart a,~~.
ATTEST•
Cynthia Singleton, TRMC, CMC
City Secretary
APPROVED AS TO FORM AND LEGALITY:
..~1 ~1`~ (cam' ~/\
Matthew C.G. Boyle
City Attorney
CITY OF COLLEYVILLE
~cU.~
David Kelly
Mayor