HomeMy WebLinkAbout77-2096 ordORDINANCE NO. 77-2096
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 1977-78: PROVIDING FOR
THE TIME AND MANNER OF PAYING THE AD VALOREM TAXES LEVIED.
BE IT ORDAINED BY THE C~T¥ COUNCIL OF THE CITY OF PLAINVIEW, TEXAS:
s~edtiOn 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-Seven (1977), 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, 78.42% of the total amount received, being $.9097 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
Acct. 488-08 General Obligation Bonds
Series 1966
15 March 1966
Acct. 488-09
General Obligation Street Bonds
Series 1974
15 September 1974
Acct. 488-10
Park Bonds
Series 1976
1 August 1976
Acct. ~88~15
Certificates of Obl.igation
Series 1971
TOTAL
*PERCENTAGE
**AMOUNT
10.32% .1197
6.16% .0715
4.23% .0491
· 87% . O1 O0
21.58% .2503
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.
Section 2: That the ad valorem taxes herein levied shall become due
on the 1st day of October 1977, 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 percent (1%); during March, two percent (2%~
during April three percent (3%); during May, four percent (4%); during
June, five percent (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
percent (6%)per annum from February 1, 1978, and $1.00 shall be charged
for each redemption certificate issued by the Tax Assessor and Collector
as cost. The payment of ~ taxes shall be accepted as the first half is
paid on or before November 30, 1977, then 'the last half may be paid on
or before June 30, 1978, without penalty. Should the last half not be
paid before July 1, 1978, it shall bear penalty and interest at the usual
rate.
Section 3. 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 en-
cumbrances, and this lien shall attach to personal property to the same
extent and with the same priorities as to real estate.
Section 4. The liens provided herein attached as of January l, 1978.
Section 5. 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.
M. /.. REA, ~ity Clerk
PASSED AND APPROVED THIS 26th DAY' OF JULY, A.D.(]~ OF PLAINV[J VV