HomeMy WebLinkAboutOrdinance No. 99-1143 ORIGINAL
CITY OF THE COLONY, TEXAS
ORDINANCE NO.
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS, LEVYING
THE AD VALOREM TAXES FOR THE YEAR 1999 AT A RATE OF $.765
PER ONE HUNDRED DOLLARS ($100.00) ASSESSED VALUATION OF
ALL TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS OF THE
CITY AS OF JANUARY 1, 1998; 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 1. That there be and is hereby levied for the year 1999, on all taxable property,
real, personal 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 $.765 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 municipal
government of the City, a tax of 0.48903 Cents on each One Hundred Dollars
($100.00) assessed 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 0.27597
Cents 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 maturities
of all outstanding bonds.
Section 2. That all ad valorem taxes shall become due and payable on October 1, 1999
and all ad valorem taxes for the year shall become delinquent after January 31, 2000. There shall
be no discount for payment of taxes prior to said January 31, 2000. If any person fails to pay the ad
valorem taxes on or before the 31 st day of January 2000, 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
_Set Ad Valorem Tax Rate
May thirteen percent (13%); during the month of June, fifteen percent (15%); and on
or after the 1 st day of July eighteen percent (18%).
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 in order to authorize
the collection of ad Valorem taxes for the year 1999, this ordinance shall take effect from and after
its passage as the law in such cases provides.
DULY PASSED AND APPROVED this 20th day of September, 1999.
William W. Manning, Ma~or
ATTEST:
Patti A. Hicks, TRMC/CMC/AAE
City Secretary
APPROVED AS TO FORM:
_Set Ad Valorem Tax Rate