HomeMy WebLinkAboutOrdinances (O-98-1114)-09/15/1998
ORDINANCE 0-98-1114
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 1998-99 FISCAL YEAR; ESTABLISHING
THE AD VALOREM TAX RATE OF THIRTY FOUR AND SEVENTY FOUR
HUNDREDTHS CENTS ($.3474) PER ONE HUNDRED DOLLARS PROPERTY
ASSESSMENT; PROVIDING FOR APPORTIONMENT OF TAXES FOR INTEREST AND
SINKING FUND FOR CERTAIN BOND INDEBTEDNESS AND FOR GENERAL
OPERATING NEEDS, PROVIDING PENALTIES AND INTEREST FOR THE
DELINQUENT TAXES, AND TO BECOME EFFECTIVE ON OCTOBER 1,1998.
WHEREAS, a budget has been adopted by the City Council of the City of Colleyville,
Texas, covering the proposed expenditures of the municipal government of
the City of Colleyville for the fiscal year beginning October 1, 1998 and
ending Septem ber 30, 1999, and,
WHEREAS, said budget reflects the needs for revenue to meet the expenses proposed
therein; and,
WHEREAS, the City is required to accumulate an Interest and Sinking Fund for certain
outstanding bond indebtedness;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVI LLE, TEXAS:
Sec. 1. THAT there is hereby levied an ad valorem tax that shall be collected for
the use and support of the municipal government of the City of Colleyville.
It shall provide the legally requ ired interest and sinking fund for certain
outstanding bond indebtedness 1998-99 fiscal or budget year. Such tax
shall be levied upon all property, real, personal or mixed within the
corporate limits of Colleyville, Texas, which is subject to taxation. The rate
of tax shall be thirty four and seventy four hundredths cents ($.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 $.2485 is levied.
B. For the Interest and Sinking Fund, a tax rate of $.0989 is levied.
Sec. 2.
Taxes levied by this ordinance shall be due and payable on the first day of
October, 1998, and shall become delinquent on the first day of February,
1999, 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, 1999. 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.
The first Reading and Public Hearing being conducted on September 1, 1998.
The second Reading and Public Hearing being conducted on September 15, 1998.
PASSED, APPROVED AND ADOPTE~Y THE CITY C~~~IL OF THE CITY OF
COLLEYVILLE, TEXAS, THIS THE j DAY OF 6f.t2 er, 1998 BY THE
FOLLOWING VOTE:
Steven Helling aye
Frank Carroll ~
Ginny Tigue .tif..t-
Donna Arp art-
Nelson Thibodeaux .
;J~
APPROVED:
~~~
Richard Newton
Mayor
ATTEST: