HomeMy WebLinkAboutOrdinance No. 97-996 ORIGINAL
CITY OF THE COLONY, TEXAS
ORDINANCE NO. 9%996
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS, !.leVYING
THE AD VALOREM TAXES FOR THE YEAR 1997 AT A RATE OF
$.795 PER ONE HUNDRED DOLLARS ($100.00) ASSESSED
VALUATION OF ALL TAXABLE PROPERTY WITHIN THE
CORPORATE LIMITS OF THE CITY AS OF JANUARY 1, 1997; 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 1997, 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 $.795
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 $,477 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 $.318 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, 1997, and all ad valorem taxes for the year shall become delinquent after January 31,
1998. There shall be no discount for payment of taxes prior to said January 31, 1998. If any
person fails to pay the ad valorem taxes on or before the 31st day of January 1998, 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%);
Ord. No. 97-996
Set Ad Valorem Tax Rate
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
(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 1997, this ordinance shall take
effect from and after its passage as the law in such cases provides.
DULY PASSED AND APPROVED tl~ ~-~day of September . 1997.
Ma~ Bla~ W~tt~ Mayor '
ATTEST:
Patti A. Hicks, TRMC, City Secretary
APPROVED AS TO FORM:
Ord. No. 97-996
S~t Ad Valorem Tax Rate