HomeMy WebLinkAboutOrdinance No. 77ORDINANCE NO. /
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS, LEVYING THF,
AD VALOREM TAXES FOR THE YEAR 1979 AT A RATE OF $ PER ONE,
HUNDRED DOLLARS ($100.00) ASSESSED VALUATION ON ALL TAXABLE PROPERTY
WITHIN THE CORPORATE LIMITS OF THF. CITY AS OF JANUARY 1, 1979; 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 ORDAINED BY THF. CITY COUNCIL OF THE CITY OF THE COLONY,
TEXAS:
SECTION 1. That there be and is hereby levied for the year 1979 on all
taxable property, real, personal and mixed, situated within the limits of the Citv of
The Colony, Texas, and not exempt by the Constitution of the State and valid State
laws, a tax of 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 $
. 14 /a 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
$ 1 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, 1979, and all ad valorem taxes for the year shall become delinauent after
January 31, 1980. There shall be no discount for payment of taxes prior to said
January 31, 1980. If any person fails to pay the ad valorem taxes on or before the
31st of January, 1980, the following penalties 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 first 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 all 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. Due to the fact that it is necessary
that this Ordinance be enacted in order to authorize
the collection of ad valorem taxes for the year 1979,
this Ordinance shall take effect from and after its
passage as the law in such cases provides.
DULY PASSED, on first reading, by the City Council
of the City o The Colony, Texas, this the /
day of/���� 1979.
DULY PASSED, on second reading, by the City Council
of the CItyh of The Colony, Texas, this the w
day of /, AW11-1 1 1979.
APPROVED AS TO LEGALITY
OF THE FORM:
i
Attorn 7j
APPROVED:
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