HomeMy WebLinkAboutORD 1981-057 ORDINANCE NO. 81-57
AN ORDINANCE SETTING THE ANNUAL TAX
RATE FOR 1981; LEVYING TAXES FOR THE
YEAR 1981 TO BE ASSESSED ON ALL TAX-
ABLE PROPERTY WITHIN THE LIMITS OF THE
CITY OF GRAPEVINE, TEXAS; PROVIDING
�,. , PENALTIES AND INTEREST FOR DELINQUENT
TAXES; PROVIDING FOR THE INTRA- AND
' INTER-DEPARTMENT AND FUND TRANSFERS;
AND PROVIDING FOR THE INVESTMENT OF
�""` IDLE FUND5 AND DECLARING AN EMERGENCY
WHEREAS, all 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 is hereby levied upon all taxable
property in the City of Grapevine, Texas, for the year 1981,
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) 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 1981 , 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, 59. 6� of the taxes levied
� on each $100. 00 valuation.
(b) For the Interest and Sinking Fund, 40. 40 of the
taxes levied on each $100. 00 valuation.
Section 3. That the City Manager be and is hereby author-
ized to make intra- and inter-department fund transfers during
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 Deposit Open Accounts in Official City
Depositories. Interest accrued from such investments may be
deposited to the General Fund. All of which investments
shall be in accordance with law.
Section 5. Taxes levied by this ordinance shall be due
and payable on October 1, 1981, and shall become delinquent
on the first day of February, 1982, if unpaid. Upon taxes
� becoming delinquent, a penalty will be added as required in
Articles 7336 and Article 7336f of V.A.T.C.S. , and shall com-
mence on the first day of February, 1982. 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 Statutes of Texas , 1925) , and Article 7336 , Revised
Civil Statutes of Texas, 1925, as amended. The City of Grape-
vine 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 begins on
October 1, 1981, requires that this ordinance be effective
upon 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.
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PASSED AND APPROVED BY AN AFFIRMATIVE VOTE OF ALL
MEMBERS PRESENT ON this the lst day of September, 1981.
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APPROVED:
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Mayor
ATTEST:
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i y Secr a
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APPROVED AS TO FORM AND LEGALITY:
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City Attorney
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