HomeMy WebLinkAboutOrdinances (O-78-296)-09/05/1978
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ORDINANCE 0-78-296r
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 1978-79
FISCAL YEAR; ESTABLISHING THE AD VALOREM TAX RATE OF $.85
PER ONE HUNDRED DOLLARS PROPERTY ASSESSMENT OF 65%; PROVIDING
FOR THE APPORTIONMENT OF TAXES FOR INTEREST AND SINKING FUND
FOR CERTAIN BOND INDEBTNESS AND FOR GENERAL OPERATING NEEDS
TO BECOME EFFECTIVE ON OCTOBER 1, 1978.
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, 1978
and ending September 30, 1979; and
WHEREAS, said budget reflects the needs for revenue to meet the expenses proposed
therein; and
WHEREAS, the City is required to accumulate interest and a sinking fund for certain
outstanding bond indebtnesses;
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Section 1.
THAT there is hereby levied, and there shall be collected, for the use
and support of the municipal government of the City of Colleyville,
Texas, and to provide the legally required interest and sinking fund
on certain outstanding bond indebtednesses 1977-78 fiscal or budget
year, upon all property, real, personal or mixed within the corporate
limits of Colleyville, Texas, which is subject to taxation, an
ad valorem tax of eighty-five cents (.85e) on each One Hundred Dollars
($100.00) property assessment of 65%, said tax levied for and appor-
tioned to the following specific purposes:
(1) The rate of $.17 on each One Hundred Dollars ($100.00) valuation
of taxable property to be levied, assessed and ordered collected
for the purpose of paying the interest on and creating a sinking
fund for the redemption of certain bonds within the City of
Call eyv ill e.
(2) The rate of $.561 on the One Hundred Dollars ($100.00) valuation
of taxable property to be levied, assessed and ordered collected
for the purpose of creating a General Fund for the City Operations,
as provided by law and ordered collected to meet these requirements.
(3) The rate of $.119 on the One Hundred Dollars ($100.00) valuation
of taxable property to be levied, assessed and ordered collected
for the purpose of creating a Reserve within the General Fund.
PASSED,APPROVED BY THE CITY COUNCIL AT THE MEETING THIS THE 5th
DAY OF SEPTEMBER, 1978, BY THE FOLLOWING VOTE:
Ordinance 0-78-296
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JUDY L. WELCH YES
C. L. IISMOKEY11 VANOVER YES
LEONARD LEAR YES
HOWARD COLLINS YES
DALE R. HODGSON YES
The 1 s t Publ i c Hear i ng and Reading was conducted on
The 2nd Publ ic Hea ring and Reading was conducted on
The 3rd Publ ic Hea ring and Reading was conducted on
VOLUME~AGE I~~
August 1, 1978.'u::I.j;~ .,..
August 15, 1978. 'I_lr-rl.J?-"f'
September 5, 1978.9- 5-7~~"""""'"
A. ANDREWS, Mayor
ATTEST:
d-J.\1ft;J:;2~
City Secretary
APPROVED AS TO FORM AND LEGALITY:
Gilliland, Cates, and Flagg
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BY:
C i ,y, Attorney
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