HomeMy WebLinkAboutORD 1974-031 ORDINANCE NO. ?�} --:�1
AN ORDINANCE ADOPTING THE BUDGET FOR THE CITY
OF GRAPEVINE, TEXAS, FOR THE FISCAL YEAR
BEGINNING OCTOBER 1, 1974, AND ENDING SEPTEMBER 30,
� °� 1975; LEVYING TAXES FOR THE YEAR 1974 TO BE ASSESSED
ON ALL TAXABLE 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 FUNDS.
WHEREAS, notice of a public hearing on the Budget for the City
of Grapevine, Texas, for the fiscal year 1974-75 was heretofore
published at least five (5) days in advance of said hearing; and
WHEREAS, a public hearing was duly held and all interested
� persons were given an opportunity to be heard for or against
any item therein;
'��' NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVIl� , TEXAS:
SECTION 1, The Budget presented by the City Manager of the City
of Grapevine for the fiscal year beginning October 1, 1974, and ending �
September 30, 1975, is hereby approved.
SECTION 2. That a tax is hereby levied upon all taxa.ble property
in the City of Grapevine, Texas, for the year, 1974, at the rate of ninety-one
" cents ($00. 91) per One Hundred Dollars ($100. 00) valuation,
SECTION 3. That there shall be and there is hereby levied the
=�_ .�R 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 1974, and said taxes are to be
assessed and collected for the purpose hereinafter stipulated, to-wit:
(a) For the General Fund levied on the
$100. 00 valuation 80. 90�
(b) For the interest and Sinking Fund levied
on the $100. 00 valuation 9. O5�
(c) Utility Fund 10. O5�
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100J
SECTION 4. That the City Manager be and is hereby authorized to make
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intra and inter department fund transfers during the fiscal year as becomes
necessary in order to avoid over expenditures of a particular account,
SECTION 5. That the City Manager 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 jor Time Deposit
Open Account in Official City Depositories. Interest accrued from such investments
may be deposited to the General Fund.
SECTION 6. Taxes levied by this ordinance shall be due and payable on
October l, 1974, and shall become delinquent on the first day of February, 1975,
if unpaid; upon taxes becoming delinquent, a penalty of lOJ of such delinquent
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taxes shall accrue on the first day of February, Interest upon delinquent taxes
and pe�alties shall accrue at the rate of 6� per annum commencing from the
dates of delinquency. 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 7. The fact that the fiscal year begins on October 1, 1974,
requires that this ordinance be effective upon its passage and adaption to preserve
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the public peace, property, health and safety, and shall be in full force and effect
from and after its passage and adaption.
PASSED ON FIRST READING TO THE SECOND READING BY AN AFFIRMATIVE
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VOTE OF ALL MEMBERS PRESENT ON Sr_PTrMc��R ! t� , 1974,
PASSED AND APPROVED ON ITS SECOND READING BY AN AFFIRMATIVE VOTE
OF ALL MEMBERS PRESIN T ON: .Srp-rr:µ�C t� � ���`�•
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