HomeMy WebLinkAboutOrdinances (ORDINANCE O-17-2029)-09/19/2017 ORDINANCE 0-17-2029
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 FISCAL
YEAR 2018; ESTABLISHING THE AD VALOREM TAX RATE OF
$0.333834 PER ONE HUNDRED DOLLARS VALUATION; 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,
' 2017
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, 2017 and ending September 30, 2018; 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, the City Council desires to lower the current tax rate, to provide
relief to property owners from increasing property values.
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 2018 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 $0.333834 on each $100.00 property assessment.
Said tax levied for and apportioned to the following specific
purposes:
A. For the General Fund, a tax rate of $0.3160 is levied.
B. For the Interest and Sinking Fund, a tax rate of $.017834 is
levied.
Ordinance 0-17-2029
Page 2 of 2
Sec. 2. THAT taxes levied by this ordinance shall be due and payable on
the first day of October 2017, and shall become delinquent on the
first day of February 2018, 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 2018. 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.
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the 5th day of
September 2017.
The second reading and public hearing being conducted on the 19th day of
September 2017.
APPROVED BY A VOTE OF (c, AYES, 0 NAYS, AND ( ABSTENTIONS ON
THIS THE 19TH DAY OF SEPTEMBER 2017.
Mayor Richard Newton H yc, Mayor Pro Tem Bobby Lindamood Ale,
Place 1, Tammy Nakamura TI-Ne, Place 5, Nancy Coplen
Place 3, Kathy Wheat p y-i Place 6, Mike Taylor py
Place 4, George Dodson AbfgA
ATTEST: CITY OF COLLEYVILLE
Christine Loven, TRMC Richard Newton
Assistant City Secretary Mayor
APPRO f AS TO FOAM AND LEGALITY:
Whitt L. Wyatt
City Attorney