HomeMy WebLinkAboutOrdinance No. 01-1310 ORIGINAL
CITY OF THE COLONY, TEXAS
ORDINANCE NO. (,9 i' } ~'} 0
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS, LEVYING
THE AD VALOREM TAXES FOR THE YEAR 2001 AT A RATE OF $.725
PER ONE HUNDRED DOLLARS ($100.00) ASSESSED VALUATION OF
ALL TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS OF
THE CITY AS OF JANUARY 1, 2001; 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 2001, 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 $.725 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 $.45680 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
$.26820 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,
2001 and all ad valorem taxes for the year shall become delinquent after January 31, 2002.
There shall be no discount for payment of taxes prior to said January 31, 2002. If any person
fails to pay the ad valorem taxes on or before the 31st day of January 2002, 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 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 2001, this ordinance shall take effect
from and after its passage as the law in such cases provides.
DULY PASSED AND APPROVED this 17th day of September, 2001.
ATTEST:
Patti A. Hicks, TRMC
City Secretary