HomeMy WebLinkAboutOrdinances (Ordinance O-18-2060)-09/18/2018ORDINANCE 0-18-2060
AN ORDINANCE LEVYING TAXES FOR THE OPERATION OF THE
MUNICIPAL GOVERNMENT OF THE CITY OF COLLEYVILLE, TEXAS, FOR
THE FISCAL YEAR 2019; ESTABLISHING THE AD VALOREM TAX RATE
OF $0.3208 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, 2018
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, 2018 and ending September 30, 2019; 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 the
effective 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 2019 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 $0.3208 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 $0.303764 is levied.
B. For the Interest and Sinking Fund, a tax rate of $.017036 is
levied.
Ordinance 0-18-2060
Page 2 of 2
Sec. 2. THAT taxes levied by this ordinance shall be due and payable on
the first day of October 2018, and shall become delinquent on
the first day of February 2019, 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 2019. 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 4th day of
September 2018.
The second reading and public hearing being conducted on the 181h day of
September 2018.
APPROVED BY A VOTE OF 7 AYES, 0 NAYS, AND 0 ABSTENTIONS ON THIS THE 18TH
DAY OF SEPTEMBER 2018.
Mayor Richard Newton Aye Mayor Pro TernBobby Lindamood Aye
Place 1, Tammy Nakamura Aye Place 5, Chuck Kelley Aye
Place 3, Kathy Wheat Aye Place 6, Callie Rigney Aye
Place 4, George Dodson Aye
ATTEST: CITY OF COLLEYVILLE
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Christine Loven, TRMC Richard Newton
City Secretary Mayor
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FORM AN,Q LEGALITY:
Whitt L. Wyatt
City Attorney