HomeMy WebLinkAboutORD 1987-060 ORDINANCE NO. 87-60
AN ORDINANCE SETTING THE ANNUAL TAX RATE FOR
FY88; LEVYING TAXES FOR THE FY88 TO BE
ASSESSED ON ALL TAXABLE PROPERTY WITHIN THE
LIMITS OF THE CITY OF GRAPEVINE, TEXAS;
PROVIDING PENALTIES AND INTEREST FOR THE
DELINQUENT TAXES; AND DECLARING AN EMERGENCY
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BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE,
� TEXAS:
Section 1 . That a tax rate is hereby levied upon all
taxable property in the City of Grapevine, Texas, for FY88 at a
rate of forty-four cents ($0.44) per One Hundred Dollars
($100 . 00) valuation.
Section 2 . That there shall and there is hereby levied the
following taxes on each One Hundred Dollars ( $100 . 00) valuation
on all taxable property within the City of Grapevine, Texas, to
be assessed and collected by the Tax Assessor and collected for
FY88, and said taxes are to be assessed and collected for the
purposes and in the amounts hereinafter stipulated, to-wit:
(a) For the General Fund, a tax rate of $. 3052 is levied.
(b) For the Interest and Sinking Fund, a tax rate of $. 1348
is levied.
Section 3 . Taxes levied by this ordinance shall be due and
payable on the first day of October, 1987, and shall become
� ' delinquent on the first of day of February, 1988, if unpaid.
Upon taxes becoming delinquent, interest and penalty will be
��� added as required in Section 33. 01 of the Texas Property Tax
Code, and shall commence on the first day of February, 1988 . The
City of Grapevine is hereby authorized to adopt any and all legal
remedies provided by the Texas Property Tax Code for the purpose
of collecting delinquent taxes.
Section 4 . The fact that the fiscal year begins on
October 1 , 1987, requires that this ordinance be effective upon
its passage and adopted to preserve the public peace, property,
health, and safety, and shall be in full force and effect from
and after its passage and adoption, and an emergency is declared.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 15t1z day of _���tember , 1987.
APPROVED:
'"� Mayor
�"' ATTEST:
City Secretary
APPROVED AS TO FORM:
-� —
City Attorney
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