HomeMy WebLinkAboutOrdinances (O-85-583)-09/03/1985
Page 57
ORDII\JANCE 0-85-583
AN ORDiNANCE BY THE CITY COUNCiL OF THE CITY OF
COLLEYVlLLE., TEXAS. LEVYING TAXES FOR THE OPERAT!ON OF
THE MUNIClr:lj,\L C':;OVERNMENT OF THE CITY OF COLLEYVILLE.
TEXAS. ~OR TI-lE 1 ga5-BE) FISC.L\L YEAR: ESTABLISHING THE AD
VALOREM TAX RATE OF TWENTY-BEVEN AND EIGHT TENTHS CENTS
(,278 cents) PER ONE HUNDRED DOLLARS PROPERTY ASSESSMENT:
PROVIDING FOH APPORT!ONMENT OF TAXES FOR INTEREST AND
B!NKING FUND FOR CERTAIN BOND INDEBTEDNESS AND FOR
GENERAL OPERATING NEEDS TO BECOME EFFECTIVE ON OCTOBER
L 1985
Wl-iF:R'.::AS. a budget has been adopted by the City Council of the City of Colleyville. Texas.
covering the prnposed expenditures of the municipal government of the City of
Golieyvi He fa, the fisca! year beginning October 1. 1985 and ending September 30.
1 GEio, ~.md.
\l\fHEF~EAS. m:lid budget reflects the need!; far revenue to meet the expenses proposed therein: and.
\^fHEr~EAS. the City is required to accumulate an Interest and Sinking Fund for certain outstanding
bond indebtednE;ss:
THEF<EFORE. BE ORlJ/\INED BY THE CITY COUNCIL OF THE
CiTY (::IF COLLEYVILLE. TEXAS:
S1;,ctiatl L TI-I.L\T there is t-:el'eby levied an ad valorem tax that shall be collected. for the use
and s;.mpor";:; of the rnunicipd government c.lf thfJ City or Co!leyvHle. It shall provide
the leQ;;:dl/ ruq:..Jired ~nt(;j'cDt and sinking fund for certain outstanding bcmd indebtedness
!9B5-Br-i fiscal ur budg~~t year. Such tax 5hall be levied upon all property. l'eai. personal
or m:xeo \,Jithirl t'IE: cm'porCltc lirnits of Colleyville, Texas. which is subject to taxation.
The: n;::1';e of t,~lX shull he twenty-:~€ven and eight tenths cdnts .278 cents (.27811:) on
U;jsh Om;; I-bndted [led Im~3 ($1 mUJO] jJrL,perty Clssef3sr'-lent. Said-t8x leviad for i.H'ld
Elf.,pun jW';~;d tt.. the follm,,;i'lg tipeci fiG purposes;
[I J 1 hd ~'f,tf;: of 20 % (if Gtlch Dollar Gol iectad for the purpose of paying th~ interest
nr" find cn:~atin!,l 1:1 ~linking fund for. the redemption of c8j"tain bonds within the
City 0:' CQlleyvi lie. RatE'; to collect until $195.BLIO.OG is deposited, thereafter.
t(ltfl! cDliected shal: bt? deposited in the Gom::ral Fund.
I"')] 'f he, n:J'?:;': nf n % of e(;lch Dollar GO! h:x:ted for- the purpose of c~'eating a General
Fund h:;r the City aper8tkll1s. 85 provided by law and orderl:Jd c.;oHactod to meat
!'equi,'F~mfmt::;.
(3] ThG 1'8tf! r,f 1) % of fIW:;h Dc! inr cr.1lif~ct~1d for the pur'pose of cn:".ting a HeRG,'Ve
C':;:lntill~IE:j;!.:y within \'Jw General hmd. !~8te tc' calise\; until $91.350.00 is
nepu'3ited. ["hereafter <~o! k::cted shali be deposited in the General Fund.
P)\SSEO. j:,ppr..tOVEO.!\I\lD ADOPTED BY THE CITY COUNCIL OF THE
CI"i'Y OF COLLEYVILL.E. TEX.O.S, THIS THE 3rd DA Y OF SEPTEMBER.
1[;85 BY THE FOLL.ClVJING VOTE
YES ~IOHN WHITE ABSENT
_~_..~.__v..__.~___ __~_
YES PHILIP KELL Y NO
-'. ~-_......-_._..---_.-
YES
HrJ'vJ.L\RCl COLLINS
NEIL GHOLSON
STEVE TUF:(NER
The 1st Reading and Public Hearing being cnnducted on August 5. 1985.
The 2nd F~eading and Public Heari:;g being candLlcted on August 20. 1985.
The 3rd Reading and Public Hea,'ino baing conducted on September 3. 1985.
7&J~o/a~
LaVada Johnson
City Secretary
l\PPf~OVEO:
r&rJr~
BUCK HUBBARD
Mayor