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HomeMy WebLinkAboutRES 1995-027 RESOLUTION N0. g5-27 ,� A RESOLUTION OF THE CITY COUNCIL OF THE CiTY OF GRAPEVINE, TEXAS PASSED PURSUANT TO SECTION 26.04, SECTION 26.05 AND SECTION 26.06 OF THE PROPERTY TAX CODE OF THE STATE OF TEXAS, APPROVING A PROPOSAL TO INCREASE PROPERTY TAXES; CALLING A PUBLIC HEARING; DIRECTING THAT NOTICE BE GIVEN IN ACCORDANCE WITH THE PROPERTY � TAX CODE AND PROVIDING AN EFFECTIVE DATE WHEREAS, the Finance Director of the City of Grapevine, Texas (the "City"1, has calculated the amount of the effective tax rate and the rollback tax rate pursuant to Section 26.04(c) of the Property Tax Code of the State of Texas (the "Property Tax Code"); and WHEREAS, pursuant to Section 26.04(e) of the Property Tax Code, the Finance Director of the City has submitted the said tax rates to the City Council and has published in a newspaper in the form prescribed by the State Property Tax Board the effective and rollback tax rates, the calculations used to determine the said tax rates, "'"'�' and the estimated amounts of fund balances, and a schedule of the unit's debt obligations required to be published; and WHEREAS, it appears necessary to adopt a tax rate that is nine and thirteen one hundredths percent (9.13%) above the effective tax rate. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS: Section 1 . That all of the matters contained in the preamble are found to be true and correct and are incorporated herein as if copied in their entirety. Section 2. That the City Council does hereby, by the approval of this resolution, state its intention to adopt a tax rate that will be a maximum of nine and thirteen one hundredths percent (9.13%) above the effective tax rate. Section 3. That in order to comply with Section 26.051d) of the Property Tax Code, a public hearing on this proposed increase will be held on the 5th day of September, 1995 at 7:30 p.m. in the Council Chambers, Municipal Court Room #205, �� 307 West Dallas Road, Grapevine, Texas, which date shall not be earlier than seven (7) days after the date the notice of the public hearing on the proposed increase is ,,,�, given. Section 4. That the City Secretary is directed to publish a notice of this hearing in the official city newspaper at least seven days prior to the date of the public hearing in accordance with Section 26.06 of the Property Tax Code. � Section 5. That this resolution shall take effect from and after the date of its passage. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS on this the 15th day of August , 1995. APPROVED: r---� William D. Tate Mayor ATTEST: � �. Lin Huff City Secretary APPROVED AS TO FORM: John F. Boyle, Jr. City Attorney ' �,;,�; � RES. N0. g5-27 2