HomeMy WebLinkAboutORD 1979-052 CITY OF GRAPEVINE
ORDINANCE NO. 79-52
AN ORDINANCE SETTING THE ANNUAL TAX RATE FOR
1979; LEVYING TAXES FOR THE YEAR 1979 TO BE
ASSESSED ON ALL TAXABLE PROPERTY WITHIN THE
LIMITS OF THE CITY OF GRAPEVINE , TEXAS ; PRO-
VIDING PENALTIES AND INTEREST FOR DELINQUENT
TAXES ; PROVIDING FOR THE INTRA AND INTER
DEPARTMENT AND FUND TRANSFERS ; AND PROVIDING
FOR THE INVESTMENT OF IDLE FUNDS AND DECLARING
AN EMERGENCY.
WHEREAS , all requirements of Art . 7244C, 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 is hereby levied upon all taxable property
in the City of Grapevine, Texas , for the year , 1979 , at the rate of
eighty-nine cents ($00. 89) 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 , Texas , to be
assessed and collected by the Tax Assessor and Collector for the
year 1979 , 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, 65 . 92% of the taxes levied on
each $100. 00 valuation.
(b) For the Interest and Sinking Fund, 34. 08% 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 over expenditures of a parti-
cular 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 1, 1979 , and shall become delinquent on the first
day of February, 1980 , if unpaid; upon taxes becoming delinquent ,
a penalty of 10% of such delinquent taxes shall accrue on the first
day of February, 1980 . Interest upon delinquent taxes and penalties
shall accrue at the legally authorized rate per annum commencing from
.z, the dates of delinquency. 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 1 ,
1979 , 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 11 , 1979.
MAYOR
ATTEST :
4/ • S
C TY ECREf' A '
APPROVED AS TO FORM:
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CITY ATTORNEY