HomeMy WebLinkAbout76-1966 ordORDINANCE NO: 76-1966
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 1976-77; PROVIDING FOR
THE TIME AND MANNER OF PAYING THE AD VALOREM TAXES LEVIED.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PLAINVIEW, TEXAS:
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-Six (1976), upon all property, real,
personal, and mixed within the corporate limits of said City subject to
taxation, a tax of one and sixteen hundreths dollar ($1.16)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, 75.90% of the total amount received, being $.8804 on each One
Hundred Dollars ($100) valuation of property.
(B) For the interest and sinking funds, the following appor-
tionments shall be made:
SINKING FUND
*PERCENTAGE **AMOUNT
Acct. 488-06
General Obligation Park Bonds
Series 1963
15 January 1963
2.21% .0257
Acct. 488-07
General Obligation Bonds
Series 1963
15 January 1963
11.88% .1378
Acct. 488-08
General Obligation Bonds
Series 1966
15 March 1966
3.80% ~0441
Acct. 488-09
General Obligation Street Bonds
Series 1974
15 September 1974
5.08% .0589
* 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 $1.16 per $100 valuation that is used
to retire General Obligation Bonds.
$ .2796 Interest & Sinking Fund
.8804 General Fund
present rate $ 1.16 per $100 valuation
Acct. 488-10
Acct. 488-15
Park Bonds
Series 1976
I August 1976
Certificates of Obligation
Series 1971
1 August 1971
.19% .0022
.94% .0109
TOTAL 24.10% .2796
Section 2. All monies collected under this Ordinance for the specific
items herein named, be and the same are hereby appropriated 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 amount 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. All 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 1976, 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,o 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, 1977, and $1.00 shall be charged for each redemption
certificate issued by the Tax Assessor and Collector as cost. The payment
of ½ taxes shall be accepted if the first half is paid on or before
November 30, 1976, then the last half may be paid on or before June 30, 1977,
without penalty. Should the last half not be paid before July 1, 1977, 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, and encumbances,
and this lien shall attach to personal property to the same extent and
with the same priorities as to real estate.
Section 5.
The liens provided herein shall attach as of January 1, 1977.
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 27th day of July, A.D. 1976.
ATTEST:
M. L. REA, City Clerk