HomeMy WebLinkAboutOrd 74-1634ORDINANCE NO. 74-1634
AN ORDINANCE LEVYING TAXES FOR THE USE AND SUPPORT OF THE
MUNICIPAL GOVERNMENT OF THE CITY OF PLAINVIEW, TEXAS, AND
PROVIDING FOR THE INTEREST AND SINKING FUND FOR THE FISCAL
YEAR 1974-75; PROVIDING FOR THE TIME AND MANNER OF PAYING
THE AD VALOREM TAXES LEVIED.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PLAINV'IEW, T~XAS:
Section 1. That there is hereby levied and there shall be
collected for the use and support of the Municipal Government of
the City of Plainview, Texas, and to provide interest and sinking
funds for the year Nineteen Hundred and Seventy-Four (1974), upon
all property, real, personal, and mixed, within the corporate
limits of said City subject to taxation, a tax of ninety-five and
no hundreths cents ($.95) on each One Hundred Dollars ($100) to
the specific purposes herein set forth:
(A) For the maintenance and support of the general
government and for the operation of the City government to be
placed in the General Fund, 66.80% of the total amount received,
being $.6346 on each One Hundred Dollars ($100) valuation of
property.
(B) For the interest and sinking funds, the following
apportionments shall be made:
SINKING FUND
*PERCENTAGE
~AMOUNT
Acct. 488-06
General Obligation Park Bonds
Series 1963
15 January 1963 3.21%
.0305
Acct. 488-07
General Obligation Bonds
Series 1963
15 January 1963
16.08% .1528
Acct. 488-08
General Obligation Bonds
Series 1966
15 March 1966
5.35% .0508
Percentage of total tax collected Which is transferred to the
Interest and Sinking Fund for retirement of General Obligation
Bonds.
The actual cent proportion of.the 95~ per $100 valuation that
is used to retire General Obligation Bonds.
$ .3154 Interest & Sinking Fund
.6346 General Fund
present rate $ .9500 per $100 valuation
Acct. 488-09
Acct. 488-15
SINKING FUND *PERCENTAGE
General Obligation Street Bonds
Series 1974
iS September 1974 7.22%
Certificates of Obligation
Series 1971
1 August 1971 1.34%
**AMOUNT
.0686
.0127
TOTAL 33.20% .3154
Section 2. All monies collected under this Ordinance for the
specific items herein named, be and the same are hereby appro-
priated and set apart for the specific purpose indicated in each
item and that the Assessor and Collector of Taxes, the City
Treasurer, and the City Clerk shall keep these accounts so as to
readily and distinctly show the amount collected, the amounts
expended, and the amount on hand at any time belonging to such
funds. It is hereby made the duty of the Tax Assessor and
Collector and every such person collecting money for the City of
Plainview to deliver to the City Clerk and the City Treasurer at
the time of depositing any monies, a statement showing to what
fund such deposit should be made and from what source received.
Ail receipts for the City not specifically apportioned by this
Ordinance are hereby made payable to the General Fund of the City.
Section 3. That the ad valorem taxes herein levied shall become
due on the 1st day of October 1974, and may be paid up to and
including the following January 31st, without penalty, but if not
so paid such taxes shall become delinquent on the following day,
February 1st, and the following penalty shall be payable thereon,
to wit: if paid during the month of February, one per ~cent (1%);
during March, two per cent (2%); during April, three per cent (3%);
during May, four per cent (4%); during June, five per cent (5%);
and on or after the 1st day of July, eight per cent (8%). Such
unpaid taxes shall bear interest at the rate of six per cent ~(6%)
per annum from February 1, 1974, and $1.00 shall be charged for
each redemption certificate issued by the Tax Assessor and Collector
as cost. The payment of 1/2 taxes shall be accepted if the first
half is paid on or before November 30, 1974, then the last half may
be paid on or before June 30, 1975, without penalty. Should the last
half not be paid before July 1, 1975, it shall bear penalty and
interest at the usual rate.
Section 4. The taxes herein levied shall be a first and prior
lien against the property upon which they are assessed and the said
first lien shall be superior and prior to all other liens, charges,
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encumbances, and this lien Shall attach to personal property to
the same extent and with the same priorities as to real estate.
Section 6. Should any part of this Ordinance be declared
invalid for any reason, that invalidity shall not effect the
remainder of this Ordinance, which remainder shall continue in
full force and effect.
PASSED AND APPROVED this 24th day of September, A. D. 1974.
ST(~NEHA~, Mayo~ ' -
ATTEST:
M. L. REA, City Clerk
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