HomeMy WebLinkAboutOrdinance No. 295 THE CITY OF THE COLONY
ORDINANCE NO. ~
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS,
LEVYING THE AD VALOREM TAXES FOR THE YEAR 1984 AT
A RATE OF $.38 PER ONE HUNDRED DOLLARS ($100.00)
ASSESSED VALUATION OF ALL TAXABLE PROPERTY WITHIN
THE CORPORATE LIMITS OF THE CITY AS OF JANUARY 1,
1984; TO PROVIDE REVENUES FOR THE PAYMENT OF CUR-
RENT EXPENSES AND TO PROVIDE AN INTEREST AND SINK-
ING FUND ON ALL OUTSTANDING DEBTS OF THE CITY;
PROVIDING FOR DUE AND DELINQUENT DATES TOGETHER
WITH PENALTIES AND INTEREST; AND DECLARING AN
EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS:
Section 1. That there be and is hereby levied for the year 1984
on all taxable property, real, persona] and mixed, situated within the limits
of the City of The Colony, Texas, and not exempt by the Constitution of
the State and valid State laws, a tax of $.38 on each One Hundred Dollars
($100.00) assessed value of taxable property, and shall be apportioned and
distributed as follows:
(a) For the purpose of defraying the current expenses
of the municipal government of the City, a tax of $ .3464 on each
One Hundred Dollars ($100.00) assessed value of all taxable property.
(b) For the purpose of creating a sinking fund to pay
the interest and principal on all outstanding bonds of the City, not
otherwise provided for, a tax of $ .0336 on each One Hundred
Dollars ($100.00) assessed value of all taxable property, within the
City which shall be applied to the payment of such interest and matur-
ities of all outstanding bonds.
Section 2. That all ad valorem taxes shall become due and payable on
October 1, 1984, and all ad valorem taxes for the year shall become delinquent
after January 31, 1985. There shall be no discount for payment of taxes prior
to said January 31, 1985. If any person fails to pay the ad valorem taxes on
or before the Mst day of January, 1985, the following penalities shall be payable
thereon, to-wit:
During the month of February, one percent (1%); during the month of
March, two percent (2%); during the month of April, three percent (3%);
during the month of May, four percent (4%); during the month of June, five
percent (5%); and on or after the 1st of July; eight percent (8%).
Section 3. Taxes are payable in The Colony, Texas at the office of
the Tax Collector. The City shall have available alt rights and remedies
provided by law for the enforcement of the collection of taxes levied under
this ordinance.
Section 4. That the tax rolls, as presented to the City Council,
together with any supplement thereto, be, and the same are hereby approved.
Section 5. All delinquent taxes shall bear interest at the rate of six
percent (6%) per annum, in addition to the penalties.
Section 6. The fact that it is necessary that this ordinance be enacted
in order to authorize the collection of ad valorem taxes for the year 1984, this
ordinance shall take effect from and after its passage as the law in such cases
provides.
DULY PASSED by...the City Council of the City of The Colony, Texas,
this the ~-~-7 day of ~.~.~z~;~~ , 1984.
APPROVED:
Larfi'*y D. SamlYre,Mayor of the City of
TI~ Colony, Texas
ATTEST:
Jan~/Gadd, CF y Se y
APPROVED AS TO FORM: