HomeMy WebLinkAboutORD 1982-063 ORDINANCE NO. 82-63
AN ORDINANCE SETTING THE ANNUAL TAX RATE
FOR 1982; LEVYING TAXES FOR THE YEAR 1982
TO BE ASSESSED ON ALL TAXABLE PROPERTY
WITHIN THE LIMITS OF THE CITY OF GRAPEVINE,
TEXAS; PROVIDING PENALTIES ArID INTEREST FOR
DELINQUENT TAXES; PROVIDING FOR THE INTRA-
AND INTER-DEPARTMENT FUND TRANSFERS; PRO-
VIDING 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.
NO���, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF GRAPEVINE, TEXAS:
' Section 1 . That a tax is hereby levied upon all taxable
property in the City of Grapevine , Texas , for the year 1982 , at
a rate of fifty-three and four tenths cents ($0 .534) 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 ) valu-
ation on all taxable property within the City of Grapevine,
Texas, to be assessed and collected by the Tax Assessor and
Collector for the year 1982 , 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 . 90 of the taxes levied
on each $100 .00 valuation.
(b) For the Interest and Sinking Fund, 33 . 8% of the
taxes levied on each $100 . 00 valuation.
Section 3. That the City Mana_qer be and is h�reby autho-
rized to make intra- and inter-department fund transfers dur-
ing the fiscal year as becomes necessary in order to avoid -
over-expenditures of a particular account.
Section 4. That the City Manager and/or Treasurer/
Finance Director is authorized to 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 D�posit Open Accounts in Official City
Depositories. Interest accrued from such investments may be
deposited to 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 l , 1982 , and shall become delinquent
on the first day of February, 1983 , if unpaid. Upon taxes be-
coming delinquent, a penalty will be added as required in
Article 7336 and Article 7336f of V.A.T.C.S. , and shall com-
mence on the first day of February, 1983. Interest upon delin-
quent 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 Statutes 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 , Section 9. 25 , for the purpose of
collecting delinquent taxes.
Section 6 . The fact that the fiscal year began on Octo-
ber 1 , 1982 , requires that this ordinance be effective u�on
its passage and adoption 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 COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 5th day of October , 1982 .
_ APPROVED:
�'// �+ —
P4ayor
ATTEST:
City Secre ry
APPROVED AS TO FORM AND LEGALITY:
C.
City Attorney