HomeMy WebLinkAboutORD 1970-034 ORDINANCE NO. 7Q-34
AN ORDI�tANCE ADOPTING THE BUDGET FCJR THE CITY OF
GRAPEVINE, TEXAS, FOR THE FISCAL YEAR BEGINNING
OCTC7BER l, 1970 AND ENDING SEPTEMBER 30, 1971:
LEVYING TAXES FC3R 2HE YEAR 197Q TO BE ASSESSED ON
ALL TAXABLE PROPERTY WITHIN THE LZMITS OF THE CITY
QF GRAFEVINE, TEXAS: AND PROVIDING PENALTIES AND
INTEREST FOR DELINQUENT TAXES, AND PRCIVIDING FOR
THE INfiRA AND INTER-DEPARTMENT AND FUND TR�NSFERS�
AND PROVIDING FOR THE INVESTMENT OF IDLE FUNDS:
WHEREAS, notice of a public hearing on the Budget for th� City
of Grap�vine, Texas for the fi�cal year 1970-'71 was heretofore
F�ublished at least five days in advance o� said hearing, and
WHEREAS, a public hearing was duly held and all interested persons
were given an opportunity to be heard for or against any item
therein, �
NOW, THEREFORE, BE IT ORDAINED BY THE CITY QOUNCIL OF THE CITY i
QF GRAPEVINE, TEXAS: ,
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SECTION 1. �
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That a tax is hereby levied upon all taxable property in the City �
of Grapevine, Texas for the year, 1970, at the rate of $1.20 per �
ane Hundred �ollars �$1QQ.��) valuation, �
SECTZON 2. �
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_ . That �here shall be and there is hereby levied the following �
taxes on each one hundred ($lOQ.00) dollars valuation on all i
taxable property within the Ci�y of Grapevine, Texas , ta be ;
assesseci and collected by the Tax Assessor and Col.lector for
the year 197p, and said taxes are to be asses�ed and collected t
for the purpose hereinafter s�a.pulated, tc�-wi�G: j
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(a) For the General �und levied c�n 4
the $lO0.Q0 valuation . 7'7 3/4i� �
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{b) Fc,r the Interest and Sinking Fund I
levied on the $lOQ.00 valuatian .22 1/4% �
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TOTAL LEVY 100 % I
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SECTION 3.
That the City Manager be and is hereby authorized to make intra
and inter department fund transfers during the fiscal year as
b�comes necessary in order to avoid over expenditures of a
particular account.
SECfiI�N 4.
That the City Manager is autharized tc� invest any funds not
needed fc,r current use, w�aether operating funds ar bond �unds
in United States Treasury Bills , Certificates of �eposit, '
Savings Accounts, and/or Time Depc�sit Open Account in 4ffacial
City Depositories. Interest accrued from such investments may !
be depasited to the General Fund. I
SECTION 5 . I
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Taxes levied by this ordinance shall be due and payab3e an I
October l , 1970, and shall become delinyuent ar� the first tiay
of February I9'71, if unpaid; upon taxes b�cc�ming delinquent,
a �]enal.ty of 1Q1 af such delinquent taxes shall accure an the
first day of F�bruary. Inte�est upon delinquent taxes and
penalties shall accrue at the raLe of 6% per annum commencing
from the date of delirzquency. The City of Gzapevine is here-
by authorized to adopt any and all legal r�znedies provided by
the Revised Civil Statutes c�f the State af Texas and the
Grap�vine City Charter as provided in Artiele 9, Se�tion 9.25 '
for the purpose of col.lecting delinquent taxes. �
SECTION 6.
The fact that the fiscal year begins an t)ctober l, 1970, re-
quires that this ordinanee be effective upan its passage and (
adoption to preserve the public peace, property, health and �
safety, and the rules requiring ardinances be read and passed �
cm two sepaxate dates is hereby suspended and this ordinance �
sha1l be in full .force and effect from and a�ter its� passage � '
� : ���«ption. ' �
. •" '� �'�I� APPR4VED THIS THE 15th DAY C?F September , 19'70.
APPRC7VED s
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�- - �� : � Mayar
� Y,�t z_ �� �'t"'s�s:,f t�
City Secretary
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