HomeMy WebLinkAboutORD 1975-033 ORDINANCE NO. 75-33
AN ORDINANCE ADOPTING THE BUDGET FOR THE
CITY OF GRAPEVINE, TEXAS, FOR THE FISCAL
YEAR BEGINNING OCTOBER 1, 1975, AND END-
ING SEPTEMBER 30, 1976: LEVYING TAXES
� FOR THE YEAR 1975 TO BE ASSESSED ON ALL
� I TAXABLE PROPERTY WITHIN THE LIMITS OF THE
� CITY OF GRAPEVINE, TEXAS; PROVIDING PEN-
� ALTIES AND INTEREST FOR DELINQUENT TAXES;
PROVIDING FOR THE INTRA AND INTER DEPART-
MENT AND FUND TRANSFERS; PROVIDING FOR THE
INVESTMENT OF IDLE FUNDS; 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
1975-76 was heretofore published in accardance 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 1.
irrr� That the budget presented by the City Manager re-
viewed during the public hearing is hereby approved for
the fiscal year 1975-76.
SECTION 2.
That a tax is hereby levied upon all taxable property
in the City of Grapevine, Texas for the year, 1975, at the
rate of 91� 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 1975-1976, and
said taxes are to be assessed and collected for the pur-
pose hereinafter stipulated, to wit:
(a) For the General Fund of the $.91 levied
' on the $100.00 valuation 83.00%
(b) For the Interest and Sinking Fund of
the $.91 levied on the $100.00 valuation 8. 50%
(c) Utility Fund of the $. 91 levied on the
_ $100.00 valuation 8. 50%
100.00/
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, Certifi-
cates of Deposit, Savings Accounts, and/or Time Deposit
Open Account in Official City Depositories. Interest
accrued from such investment may be deposited to the
General Fund. All of which investments shall be in
accordance with law.
SECTION 6.
Taxes levied by this ordinance shall be due and
payable on October 1, 1975, and shall become delinquent
on the first day of February, 1976, if unpaid; upon
taxes becoming delinquent, a penalty of 10% of such
delinquent taxes shall accrue on the first day of Feb-
ruary. 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,
1975, requires that this ordinance be effective upon its
passage and adoption to preserve the public peace, prap-
erty, 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 ON ITS SECOND READING BY AN
AFFIRMATIVE VOTE OF ALL MEMBERS PRESENT ON September
16, 1975.
�,.,"` �
� MAYOR
ATTEST:
ty Secretary
APPROVED AS TO FORM:
City Attorney