HomeMy WebLinkAboutRES 1983-033 C_�TY OF GRAPEVINE, TEXAS
RESOLUTION NO. 83-33
A RESOLUTION PASSED PURSUANT TO 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 NO-
TICE BE GIVEN IN ACCORDANCE �VITH THE PROPERTY TAX
CODE; AND PROVIDING AN EFFECTIVE DATE.
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WHEREAS, the Finance Director for the City of Grapevine, Texas, (the
"City") has determined the amount of property taxes calculated 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(d) of the Property Tax Code the
Finance Director for the City has calculated the tax rate that if applied to the
total taxable value of all property less the taxable value of new property
submitted to the governing body by the assessor for the City would impose the
said amount of property taxes; and
WHEREAS, pursuant to Section 26.04(e) of the Property Tax Code the
Finance Director for the City has submitted the said tax rate to the City
Council and shall publicize the said tax rate, the calculations used to determine
the said tax rate and the estimated amounts required to be publicized in a
manner designed to come to the attention of all owners of property in the City;
and
WHEREAS, Braniff Airways, Inc. is a substantial taxpayer in the City'v�rho
filed for bankruptcy on or about May, 1982, which bankruptcy proceeding has not
been resolved as of the date of this resolution; and
WHEREAS, there still exists uncertainty as to the specific date a plan of
� reorganization will be approved, if at all, and as to what effect a plan of
reorganization will have on the amount of taxes, if any, actually received by the
� City from Braniff Airways, Inc. for 1982 taxes which have not yet been paid or
for 1983 taxes; and
WHEREAS, based upon the uncertainties the Braniff Airways, Inc.
bankruptcy proceeding imposes upon the City in determining the amount of taxes
the City is likely to actually recover from Braniff Airways, Inc., it appears
necessary to increase the tax rate, as that term is defined and authorized to be
calculated by Section 26.04(d) of the Property Tax Code by a maximum of
23.017% over the 1982 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.
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Section 2. That the City Council does hereby by the approval of this
resolution state its intention to increase the tax rate calculated pursuant to
Section 26.04(d) of the Property Tax Code for 1983 by a maximum of 23.01'7°�
over the 1982 tax rate.
Section 3. That a public hearing on this proposed increase will be held
�` on the 3pth day of Auc�ust , 1983, at 6:30 _�.m. in the City Hall
� of the City of Grapevine, Texas, 413 Main Street, Grapevine, Texas, which date
� shall not be earlier than seven 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 its
passage.
PASSED this 18th day of Auaust , 1983.
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� Mayor, City of Grapevine
ATTEST:
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City Secretary
[SEALI
APPROVED AS TO FORM:
City Attorney
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