Loading...
HomeMy WebLinkAboutORD 1985-053 ORDINANCE NO. 85-53 AN ORDINAD?CE SETTING THE ANNUAL TAX RATE FOR 1985; LEVYING TAXES FOR THE YEAR 1985 TO BE ASSESSED ON ALL TAXABLE PRO- PERTY WITHIN THE LIMITS OF THE CITY OF GRAPEVINE, TEXAS; PROVIDING PENALTIES AND INTEkEST FOR DELINQUENT TAXES; PRO- � VIDING FOR THE INTRA- AND INTER- DEPARTMENT FUND TRANSFERS; PROVIDING FOR THE INVESTMENT OF IDLE FUNDS; AND DECLARING AN EMERGENCY WHEREAS , the requirements of Article 7244 , V.A.T.C.S. , have been complied with. NOW, THEREFORE, 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 the year 1985, at a rate of forty-nine cents ($0 . 49) per One Hundred Dollars ($100 . 00) valuation. Section 2 . That there shall be 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, �exas, to be assessed and collected by the Tax Assessor and Collector for the year 1985, 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, 64 . 63% of the taxes levied on each $100 . 00 valuation. � �, ., (b) For the Interest and Sinking Fund, 35. 37% of the taxes levied on each $100 . 00 valuation. Section 3 . That the City Manager be and is hereby authorized to make intra- and inter-department fund transfers during the fiscal year as becomes necessary in order to avoid overexpenditures of a particular account. Section 4. That the City Manager and/or Treasurer/Finance Director is authorized ta invest any funds not needed for current use, whether operating funds or bond funds, in United States Treasury Bills, Certificates of Deposit, Savings Accounts , and/or Time Deposit Open Accounts in Official City Depositories. Interest accrued from such investments may be deposited in thE General Fund. Al1 of which investments shall be in accordance with law. Section 5 . Taxes levied by this ordinance shall be due and payable on October 1 , 1985 , and shall become delinquent on the first day of February, 1986, if unpaid. Upon taxes becoming delinquent, a penalty will be added as required in Article 7336 *^�`° and Article 7336f of V.A.T.C.S. , and shall commence cn the first day of February, 1986 . Interest upon delinquent taxes and penalties shall accrue at the rate as prescribed by Chapter 221, ,,� Acts of the 62nd Legislature, REgular Session, 1971 , as amended (Article 7100 , Revised Civil Statues of Texas, 1925) , and Article 7336 , Revised Civil Statutes of Texas, 1925 , as amended. The City of Grapevine is hereby authorized to adopt any and all legal remedies provided by the Revised Civil Statutes of the State of Texas and the Grapevine City Charter as provided in Article 9 , Secticr. 9 . 25 , for the purpose of collecting delinquent taxes . Section 6 . The f.act that the fiscal year begins on October 1 , 1985 , 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 COliNCIL UF THE CITY OF GRAPEVINE, TEXAS on first rea.ding this 17th day of September, 1985. �� PASSED AND APPROVEU BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS on second reading this 24th day of �, September , 1985. APPROVED: `��i���l Mayour ATTEST: � ���,�'�� J �`� �%�, � --_ City Secretar APPROVED AS TO FORM: �, City Attorney �:�..� �