HomeMy WebLinkAboutOrdinance No. 858 ORIGINAL
CITY OF THE COLONY, TEXAS
ORDINANCE NO. 8>,:5g
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS, LEVYING
THE AD VALOREM TAXES FOR THE YEAR ~994 AT A RATE OF $.80
PER ONE HUNDRED DOLLARS ($100.00) ASSESSED VALUATION OF
ALL TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS OF
THE CITY AS OF JANUARY 1, 1994; 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 1994, on all taxable
property, real, personal and m/xed, 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 $.80
on each One Hundred Dollars ($100.00) assessed value of taxable property, and shall be
apportioned and distributed as fo/lows:
(a) For the purpose of defraying the current expenses of municipal
government of the City, a tax of 46 cents on each One Hundred Dollars
($100.00) assessed value of all t~able 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 34 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, 1994, and all ad valorem taxes for the year shall become delinquent after January 31,
1995. There shall be no discount for payment of taxes prior to said January 31, 1994. If any
person fails to pay the ad valorem taxes on or before the 31st day of January 1994 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 (13%); during the month of June,
fifteen percent (15%); and on or after the 1st 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 in order to
authorize the collection of ad valorem taxes for the year 1994, this ordinance shall take
effect from and after its passage as the law in such cases provides.
APPROVED this ~a
DULY PASSED AND ~ y of ._S_e.p_I.q~.h.e_~, 1994.
lliam W. Manning, Mayor
ATI'EST: ~
Patti A. Hicks, TRMC, City Secretary
APPROVED AS TO FORM: