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HomeMy WebLinkAboutORD 1984-006 ORDINANCE NO. 84-06 AN ORDINANCE AMENDING SECTION 2 OF ORDI- NANCE NO. 83-56 RELATIVE TO THE 1983 AD VALOREM TAX ALLOCATION; AND DECLARING AN EMERGENCY ��HEREAS, Ordinance No. 83-56 , passed on the 13th day of September, 1983 , was for the purpose of setting the annual tax rate for 1983 and allocating the amount of the tax anticipated to be received between the General Fund and the Interest and Sinking Fund; and �aHEREAS , the amount of the tax revenue originally projected did not include payment of 1983 taxes by Braniff Airways due to uncertainties relating to the pending bankruptcy; and WHEREAS , the bankruptcy has now been resolved and 1983 taxes were paid in full and, therefore, the percentage allocated as indicated in Section 2 of Ordinance No. 83-56 needs to be amended to reflect the additional revenue. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS: Section l. That Section 2 of Ordinance No. 83-56 is hereby amended to read as follows: "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, Texas to be assessed and collected by the Tax Assessor and Collector for the year 1983 , 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, 63 . 7� of the taxes levied on each $100 . 00 valuation. (b) For the Interest and Sinking Fund, 36 . 3o of the taxes levied on each $100 . 00 valuation. " Section 2. The fact that the present ordinances and regula- tions of the City of Grapevine, Texas , are inadequate to properly safeguard the health, safety, morals , peace , and general welfare of the inhabitants of the City of Grapevine, Texas, creates an emergency for the immediate preservation of public business , pro- perty, health, safety, and general welfare of the public which requires that this ordinance shall become effective from and after the date of its passage as provided by law, and it is accordingly so ordained. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAPE- VINE, TEXAS on this the 7th day of February, 1984. APPROVED: �'1„ _��,� %,�,�`Q�_ .�-- ., Mayor ATTEST: City Secretar APPROVED AS TO FORM AND LEGALITY: City Attorney ..