HomeMy WebLinkAboutOrdinance No. 127ORDINANCE NO. 121�
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS, LEVYING THE
AD VALOREM TAXES FOR THE YEAR 1980 AT A RATE OF $.37 PER ONE
HUNDRED DOLLARS ($100.00) ASSESSED VALUATION ON ALL TAXABLE PROPERTY
WITHIN THE CORPORATE LIMITS OF THE CITY AS OF JANUARY 1, 1980; 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 THE CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS:
SECTION 1. That there be and is hereby levied for the year
1980 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 $.37 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 $.34 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 other-
wise provided for, a tax of $.03 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 out-
standing bonds.
SECTION 2. That all ad valorem taxes shall become due and
payable on October 1, 1980, and all ad valorem taxes for the year shall
become delinquent after January 31, 1981. There shall be no dis-
count for payment of taxes prior to said January 31, 1981. If any
person fails to pay the ad valorem taxes on or before the 31st of
January, 1981, 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
per cent (3%); during the month of May, four percent (4%); during the
month of June, five percent (5%); and on or after the 1st 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. The fact that it is necessary that this ordinance
be enacted in order to authorize the collection of ad valorem taxes
for the year 1980, this ordinance shall take effect from and after its
passage as the law in such cases provides.
This ordinance was read in an open meeting of the City
Council on the day of , 1980.
This ordLirlance was duly passed on second reading on the
day of ��L"'i 1980.
APPROVED AS TO FORM:
ATTORNEY