HomeMy WebLinkAboutORD 1980-045 ORDINANCE NO. 80-45
AN ORDINANCE SETTING THE ANNUAL TAX RATE FOR 1980;
LEVYING TAXES FOR THE YEAR 1980 TO BE ASSESSED ON
ALL TAXABLE PROPERTY WITHIN THE LIMITS OF THE CITY
OF GRAPEVINE, TEXAS; PROVIDING PENALTIES AND INTER-
EST FOR DELINQUENT TAXES; PROVIDING FOR THE INTRA
AND INTER DEPARTMENT AND FUND TRANSFERS; AND PRO-
VIDING FOR THE INVESTMENT OF IDLE FUNDS AND DECLARING
�""" AN EMERGENCY.
WHEREAS, all requirements of Article 7244 , V.A.T.C.S . ,
�+�► have complied with,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF GRAPEVINE, TEXAS :
Section l. That a tax is hereby levied upon all taxable
property in the City of Grapevine, Texas, for the year, 1980 ,
at a rate of fifty-three and four tenths cents ($0. 534) 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 Grape-
vine, Texas, to be assessed and collected by the Tax Assessor
and Collector for the year 1980, 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, 59 . 2� of the taxes levied on
each $100 . 00 valuation.
� , (b) For the Interest and Sinking Fund, 40 . 8� of the
taxes levied on each $100. 00 valuation.
�Y.� Section 3. That the City Manager be and is hereby authorized
to make intra and inter department fund transfers during the fis-
cal year as becomes necessary in order to avoid over expenditures
of a particular account.
Section 4 . That the City Manager is authorized to 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 to the General Fund.
Section 5. Taxes levied by this ordinance shall be due and
payable on October l, 1980 , and shall become delinquent on the
first day of February, 1981, if unpaid; upon taxes becoming
delinquent, a penalty will be added as required in Articles
7336 and Article 7336f of V.A.T.C.S. , and shall commence on
the first day of February, 1981. 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 Statutes 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 , Section 9 . 25 ,
for the purpose of collecting delinquent taxes.
Section 6 . The fact that the fiscal year begins on October
l, 1980 , requires that this ordinance be effective upon its
passage and adoption 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 AN AFFIRMATIVE VOTE OF ALL MEMBERS
PRESENT ON September 2 , 1980 .
APPROVED:
MAYOR
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ATTEST:
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CITY 5E A
APPROVED S TO FORM:
CITY ATTORNEY
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