HomeMy WebLinkAboutOrdinances (O-01-1302)-09/11/2001
ORDINANCE 0-01-1302
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 2001-2002 FISCAL YEAR; ESTABLISHING
THE AD VALOREM TAX RATE OF THIRTY FOUR AND SEVENTY FOUR
HUNDREDTHS CENTS ($.3474) PER ONE HUNDRED DOLLARS PROPERTY
ASSESSMENT; PROVIDING FOR APPORTIONMENT OF TAXES FOR INTEREST AND
SINKING FUND FOR CERTAIN BOND INDEBTEDNESS AND FOR GENERAL
OPERATING NEEDS, PROVIDING PENALTIES AND INTEREST FOR THE
DELINQUENT TAXES, AND TO BECOME EFFECTIVE ON OCTOBER 1, 2001.
WHEREAS, a budget has been adopted by the City Council of the City of Colleyville,
Texas, covering the proposed expenditures of the municipal government of
the City of Colleyville for the fiscal year beginning October 1, 2001 and
ending September 30, 2002; and
WHEREAS, said budget reflects the needs for revenue to meet the expenses proposed
therein; and
WHEREAS, the City is required to accumulate an Interest and Sinking Fund for certain
outstanding bond indebtedness.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
THAT there is hereby levied an ad valorem tax that shall be collected for the
use and support of the municipal government of the City of Colleyville. It
shall provide the legally required interest and sinking fund for certain
outstanding bond indebtedness during the 2001-2002 fiscal year. Such tax
shall be levied upon all property, real, personal or mixed within the corporate
limits of Colleyville, Texas, which is subject to taxation. The rate of tax shall
be thirty-four and seventy-four hundredths cents ($.3474) on each one
hundred dollars ($100.00) property assessment. Said tax levied for and
apportioned to the following specific purposes:
A. For the General Fund, a tax rate of $.26954 is levied.
B. For the Interest and Sinking Fund, a tax rate of $.07786 is levied.
Ordinance 0-01-1302
Page 2 of 2
Sec. 2.
THAT taxes levied by this ordinance shall be due and payable on the first day
of October 2001, and shall become delinquent on the first day of February
2002, 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 2002. 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 September 5,2001.
The second Reading and Public Hearing being conducted on September 11, 2001.
PASSED, APPROVED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS, THIS THE /IYh DAYOF~, 2001 BY THE
FOLLOWING VOTE:
Joe Hocutt ~ e.
Dana Feldman' ~
Ginny Tigue ~
Brad Rice ~-:-
John Orrell ~
01k-~f-Inu
Cynthia Singleton, TRMC
City Secretary
APPROVED:
~ot:~~
Mayor
ATTEST:
S TO FORM AND LEGALITY: