HomeMy WebLinkAboutORD 1977-048 ORDINANCE NO. 77-48
AN ORDINANCE ADOPTING THE BUDGET FOR THE
CITY OF GRAPEVINE, TEXAS, FOR THE FISCAL
YEAR BEGINNING OCTOBER l, 1977 AND ENDING
SEPTEMBER 30, 1978: LEVYING TAXES FOR
THE YEAR 1977 TO BE ASSESSED ON ALL TAX-
�,,,, ABLE PROPERTY WITHIN THE LIMITS OF THE
CITY OF GRAPEVINE, TEXAS: PROVIDING
PENALTIES AND INTEREST FOR DELINQUENT
� TAXES; PROVIDING FOR THE INTRA AND INTER
DEPARTMENT AND FUND TRANSFERS; PROVIDING
FOR THE COLLECTION OF DELINQUENT TAXES
AND DECLARING AN EMERGENCY.
WHEREAS, notice of a public hearing on the Budget for
the City of Grapevine, Texas, for the fiscal year 1977-78
was heretofore published in accordance with law; and
WHEREAS, a public hearing was duly held and all in-
terested persons were given an opportunity to be heard
for or against any item therein;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF GRAPEVINE, TEXAS:
SECTION l. That the budget presented by the City
Manager reviewed during the public hearing is hereby
�� approved for the fiscal year 1977-78.
�, SECTION 2 . That a tax is hereby levied upon all
taxable property in the City of Grapevine, Texas for
the year, 1977, at the rate of 89G per One Hundred Dollars
($100.00) valuation.
SECTION 3. That there shall be and there is hereby
levied the following taxes on each one hundred ($100.00)
dollars 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 1977-78, and said
taxes are to be assessed and collected for the purpose here-
inafter stipulated, to-wit:
(a) For the General Fund of the $ .89
levied on the $100.00 valuation 83% or .74fi
(b) For the Interest and Sinking Fund
of the $.89 levied on the $100.00
valuation 9/0 or .08G
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(c) Utility Fund of the $.89 levied on
the $100.00 valuation 8% or .07�
� 100% or .89G
SECTION 4. 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 particular account.
SECTION 5. 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 Account in Official City Depositories.
Interest accrued from such investment may be deposited
in the General Fund. All of which investments shall be
in accordance with law.
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SECTION 6. Taxes levied by this ordinance shall be
due and payable on October 1, 1977, and shall become de-
� linquent on the first day of February, 1978, if unpaid;
upon taxes becoming delinquent, a penalty of 10% of such
delinquent taxes shall accrue on the first day of February.
Interest upon delinquent taxes and penalties shall accrue
at the rate of 6% per annum commencing from the date 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 7 . The fact that the fiscal year begins on
October 1, 1977, requires that th.is 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 hereby declared.
PASSED AND APPROVED BY AN AFFIRMATIVE VOTE OF ALL
"�" MEMBERS PRESENT ON September 27, 1977.
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<i���--_..r�>� ��
MAYOR
ATTEST:
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CITY 'SECRL� ARY �
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APPROVED AS TO FORM:
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CITY ATTORNEY
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