HomeMy WebLinkAboutOrdinance No. 712 CITY OF THE COLONY, TEXAS
ORDINANCE NO. 7/5
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS~ LEVYING
THE AD VALOREM TAXES FOR THE YEAR ]991 AT A RATE OF ~ ~
PER ONE HUNDRED DOLLARS ($100,00) ASSESSED VALUATION OF
ALL TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS OF THE
CITY AS OF JANUARY 1, 199~; TO PROVIDE REVENUES FOR THE
PAYMENT OF CURRENT EXPENSES AND TO PROVIDE AN INTEREST
AND SINKING 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 SO ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS:
Section ]. That there be and is hereby levied for the year
]99], on all taxable property, real, personal and mixed, situated
within the limits of the City of The Colony, Texas, and not exempt
by t h~ Constitution of the State and valid State laws, a tax of
$, 7~ on each One Hundred Dollars ($]00.00) assessed value of
taxable property, and shall be apportioned and distributed as
follows:
(a) For the purpose of defraying the current
expenses of municipal government of the City, a tax of
~l7 cents on each One Hundred Dollars ($]00.00) assesse~
value of all taxable property.
(b) For the purpose of creating a sinking fund to
pay interest and principal on all outstanding bonds of
the City, not otherwise provided for, a tax of ~ cents
on each One Hundred Dollars ($]00.00) assessed value of
all taxable property, within the City which shall be
applied to the payment of such interest and maturities of
all outstanding bonds.
Section 2. That all ad valorem taxes shall become due and
payable on October ], ]99], and all ad valorem taxes for the year
shall become delinquent after January 31, 1992. There shall be no
discount for payment of taxes prior to said January 3], ]992. If
any person fails to pay the ad valorem taxes on or before the 3]st
day of January ]992, the following penalties shall be payable
thereon, to-wit:
During the month of February, seven percent (7%); during
the month of March, nine percent (9%); during the month
of April, eleven percent (11%); during the month of May
thirteen percent (]3%); during the month of June, fifteen
percent (]5%); and on or after the ]st day of July
eighteen percent (]8%).
Section 3. Taxes are payable in The Colony, Texas at the
office of the Tax collector. The City shall have available all
rights and remedies provided by law for 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. The fact that it is necessary that this
ordinance be enacted ~n order to authorize the collection of ad
valorem taxes for the year 1991, this ordinance shall take effect
from and after its passage as the law in such cases provides.
day of September ,
DULY PASSED AND APPROVED t ~99~.
William W. M~nn~ng, Mayo~
ATTEST:
Patti A. Hicks~ City Secretary
APPROVED AS TO FORM:
City Attorney