HomeMy WebLinkAboutOrdinances (Ordinance O-20-2135)-09/15/2020ORDINANCE 0-20-2135
LEVYING TAXES FOR THE OPERATION OF THE MUNICIPAL
GOVERNMENT OF THE CITY OF COLLEYVILLE, TEXAS, FOR THE FISCAL
YEAR 2021; ESTABLISHING THE AD VALOREM TAX RATE OF
$0.304365 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, 2020
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, 2020 and ending September 30, 2021; 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 2021 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 $0.304365 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 $0.289441 is levied.
B. For the Interest and Sinking Fund, a tax rate of $0.014925 is
levied.
Sec. 2. THAT taxes levied by this ordinance shall be due and payable on
Ordinance 0-20-2135
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the first day of October 2020, and shall become delinquent on
the first day of February 2021, 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 2021. 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 1st day of
September 2020.
The second reading and public hearing being conducted on the 151h day of
September 2020.
APPROVED BY A VOTE OF 7 AYES, 0 NAYS ON THIS THE 15TH DAY OF SEPTEMBER
2020.
Mayor Richard Newton Aye Mayor Pro Tern Bobby Lindamood Aye
Place 1, Tammy Nakamura Aye Place 3, Kathy Wheat Aye
Place 4, George Dodson Aye Place 5, Chuck Kelley Aye
Place 6, Callie Rigney Aye
ATTEST:
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Christine Loven, TRMC
City Secretary
APPROVE S TO FORM:
hitt L. Wyatt
City Attorney
- OF COLLEYVILLE CE
Richard Newton
Mayor