HomeMy WebLinkAboutOrdinances (O-08-1689)-09/16/2008ORDINANCE 0-08-1689
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 2008-2009 FISCAL YEAR; ESTABLISHING
THE AD VALOREM TAX RATE OF THIRTY-FIVE AND FIFTY-NINE HUNDREDTHS
CENTS ($.3559) PER ONE HUNDRED DOLLARS PROPERTY ASSESSMENT;
PROVIDING FOR APPORTIONMENT OF TAXES FOR INTEREST AND SINKING FUND
FOR CERTAIN BOND INDEBTEDNESS AND FOR GENERAL OPERATING NEEDS,
PROVIDING PENALTIES AND INTEREST FOR THE DELINQUENT TAXES, AND TO
BECOME EFFECTIVE ON OCTOBER 1, 2008
EREAS, a budget has been adopted by the City Council of the City of Colleyville,
Texas, covering the proposed expenditures of the municipal government of
the City of Colleyville for the fiscal year beginning October 1, 2008 and
ending September 30, 2009; and
EREAS, said budget reflects the needs for revenue to meet the expenses proposed
therein; and
EREAS, the City is required to accumulate an Interest and Sinking Fund for certain
outstanding bond indebtedness.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1. THAT there is hereby levied an ad valorem tax that shall be collected for the
use and support of the municipal government of the City of Colleyville. It
shall provide the legally required interest and sinking fund for certain
outstanding bond indebtedness during the 2008-2009 fiscal year. Such tax
shall be levied upon all property, real, personal or mixed within the corporate
limits of Colleyville, Texas, which is subject to taxation. The rate of tax shall
be thirty-five and fifty-nine hundredths cents ($.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 $.288595 is levied.
B. For the Interest and Sinking Fund, a tax rate of $.067305 is levied.
Ordinance 0-08-1689
Page 2 of 2
Sec. 2. THAT taxes levied by this ordinance shall be due and payable on the first
day of October 2008, and shall become delinquent on the first day of
February 2009, 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 2009. 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 $5.61.
AND IT IS SO ORDERED.
The first Reading and Public Hearing being conducted on September 2, 2008.
The second Reading and Public Hearing being conducted on September 16, 2008.
PASSED, APPROVED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS, THIS THE ~ DAY OF 2008 BY THE
FOLLOWING VOTE:
David Kelly
Tony Licata
Jon Ayers
Mike Taylor
Carol Wollin
Stan Hall
Tom Hart
ATTEST•
Cynthia Singleton, TRMC, CMC
City Secretary
APPROVED AS TO FORM AND LEGALITY:
~~~~~ ~' ~
Matthew C.G. Boyle
City Attorney
CITY OF COLLEYVILLE
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David Kelly
Mayor