HomeMy WebLinkAboutOrdinances (ORDINANCE O-17-2028)-09/19/2017 ORDINANCE 0-17-2028
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS, APPROVING AND ADOPTING THE ANNUAL
BUDGET FOR THE CITY OF COLLEYVILLE, TEXAS, FOR THE FISCAL
YEAR BEGINNING OCTOBER 1, 2017 THROUGH SEPTEMBER 30, 2018
WHEREAS, a notice of public hearing on the annual budget for the City of
Colleyville, Texas, for the fiscal year beginning October 1, 2017
through September 30, 2018, was heretofore published in a
newspaper of general circulation; and
WHEREAS, said public hearing on said budget was duly held and all
interested persons were given the opportunity to be heard for
or against any item therein; 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 the budget of the proposed expenditures for the fiscal
year beginning October 1, 2017, and ending September 30,
2018, a copy of which is on file in the Office of the City
Secretary, is hereby made a part of this ordinance by reference
and is hereby approved and adopted by the City Council of the
City of Colleyville, Texas, as the official budget for the fiscal
year beginning October 1, 2017, and ending September 30,
2018.
Sec. 3. THAT appropriation amounts for the Fiscal Year 2018 budget
for the different funds of the City of Colleyville are hereby fixed
as follows:
General Fund $23,694,811
Utility Fund (Water & Wastewater) $15,526,542
Debt Service Fund $ 1,979,412
Drainage Utility Fund $ 1,481,362
Ordinance 0-17-2028
Page 2 of 2
Sec. 4. THAT the City Manager is hereby authorized to execute all
contracts and documents for which funding is appropriated in
the aforementioned budgets.
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 tO AYES, ( ! NAYS, AND () ABSTENTIONS ON
THIS THE 19TH DAY OF SEPTEMBER 2017.
Mayor Richard Newton Aye Mayor Pro Tem Bobby Lindamood Ay
Place 1, Tammy Nakamura Aye_ Place 5, Nancy Coplen
Place 3, Kathy Wheat file_ Place 6, Mike Taylory
Place 4, George Dodson AbSe-
ATTEST: CITY OF COLLEYVILLE
l
Christine Loven, TRMC Richard Newton
Assistant City Secretary Mayor
APPROVED AS TO FORM AND LEGALITY:
hitt L. Wyatt
City Attorney
City of Colleyville
Fiscal Year 2017-2018
Proposed Budget
Cover Page
This budget will raise more revenue from property taxes than last year's
budget by an amount of$660,942, which is a 4.6 percent increase from
last year's budget. The property tax revenue to be raised from new
property added to the tax roll this year is $280,756.
Property Tax Rate Comparison
2017-2018 2016-2017
Property Tax Rate: $0.333834/100 $0.339130/100
Effective Tax Rate: $0.319110/100 $0.329138/100
Effective Maintenance & Operations Tax Rate: $0.302906/100 $0.309453/100
Rollback Tax Rate: $0.344972/100 $0.351431/100
Debt Rate: $0.017834/100 $0.017222/100
Total debt obligation for City of Colleyville secured by property taxes: $683,367