HomeMy WebLinkAboutORD 1985-053 ORDINANCE NO. 85-53
AN ORDINAD?CE SETTING THE ANNUAL TAX RATE
FOR 1985; LEVYING TAXES FOR THE YEAR
1985 TO BE ASSESSED ON ALL TAXABLE PRO-
PERTY WITHIN THE LIMITS OF THE CITY OF
GRAPEVINE, TEXAS; PROVIDING PENALTIES
AND INTEkEST FOR DELINQUENT TAXES; PRO-
� VIDING FOR THE INTRA- AND INTER-
DEPARTMENT FUND TRANSFERS; PROVIDING FOR
THE INVESTMENT OF IDLE FUNDS; AND
DECLARING AN EMERGENCY
WHEREAS , the requirements of Article 7244 , 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 rate is hereby levied upon all
taxable property in the City of Grapevine, Texas, for the year
1985, at a rate of forty-nine cents ($0 . 49) 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,
�exas, to be assessed and collected by the Tax Assessor and
Collector for the year 1985, 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, 64 . 63% of the taxes levied on
each $100 . 00 valuation. �
�, .,
(b) For the Interest and Sinking Fund, 35. 37% 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
overexpenditures of a particular account.
Section 4. That the City Manager and/or Treasurer/Finance
Director is authorized ta 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 in thE
General Fund. Al1 of which investments shall be in accordance
with law.
Section 5 . Taxes levied by this ordinance shall be due and
payable on October 1 , 1985 , and shall become delinquent on the
first day of February, 1986, if unpaid. Upon taxes becoming
delinquent, a penalty will be added as required in Article 7336
*^�`° and Article 7336f of V.A.T.C.S. , and shall commence cn the first
day of February, 1986 . Interest upon delinquent taxes and
penalties shall accrue at the rate as prescribed by Chapter 221,
,,� Acts of the 62nd Legislature, REgular Session, 1971 , as amended
(Article 7100 , Revised Civil Statues of Texas, 1925) , and Article
7336 , Revised Civil Statutes of Texas, 1925 , as amended. 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 ,
Secticr. 9 . 25 , for the purpose of collecting delinquent taxes .
Section 6 . The f.act that the fiscal year begins on
October 1 , 1985 , requires that this 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 declared.
PASSED AND APPROVED BY THE CITY COliNCIL UF THE CITY OF
GRAPEVINE, TEXAS on first rea.ding this 17th day of September,
1985.
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PASSED AND APPROVEU BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on second reading this 24th day of
�, September , 1985.
APPROVED:
`��i���l
Mayour
ATTEST:
� ���,�'�� J �`� �%�, � --_
City Secretar
APPROVED AS TO FORM:
�, City Attorney
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