HomeMy WebLinkAboutOrdinances (Ordinance O-19-2095)-09/17/2019ORDINANCE 0-19-2095
LEVYING TAXES FOR THE OPERATION OF THE MUNICIPAL
GOVERNMENT OF THE CITY OF COLLEYVILLE, TEXAS, FOR THE FISCAL
YEAR 2020; ESTABLISHING THE AD VALOREM TAX RATE OF
$0.306807 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, 2019
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, 2019 and ending September 30, 2020; 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 2020 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 $0.306807 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 $0.290428 is levied.
B. For the Interest and Sinking Fund, a tax rate of $.016379 is
levied.
Ordinance 0-19-2095
Page 2 of 2
Sec. 2. THAT taxes levied by this ordinance shall be due and payable
on the first day of October 2019, and shall become delinquent
on the first day of February 2020, 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 2020. 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 3r6 day of
September 2019.
The second reading and public hearing being conducted on the 171h day of
September 2019.
APPROVED BY A VOTE OF '/ AYES, 0 NAYS, AND 0 ABSTENTIONS ON
THIS THE 17TH DAY OF SEPTEMBER 2019.
Mayor Richard Newton / yr; Mayor Pro Tern Bobby Lindamood
Place 1, Tammy Nakamura Place 5, Chuck Kelley
Place 3, Kathy Wheat f} Place 6, Callie Rigney
Place 4, George Dodson AM
ATTEST:
Christine Loven, TRMC
City Secretary
APPROVE AS TIO FORM:_
itt L yatt
City Attorney
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Richard Newton
Mayor