HomeMy WebLinkAboutORD 1973-038 ORDINANCE NO. 73-38 �
AN ORDINANCE ADOPTING THE BUDGET ROR THE CITY
OF GRAPEVINE, TEXAS, FOR THE FISCAL YEAR BE-
GINNING OCTOBER l, 1973 AND ENDING SEPTEMBER
30, 1974: LEVYING TAXES FOR THE YEAR 1973 7�0
BE ASSESSED ON ALL TAXEIBLE PROPERTY WITHIN THE
LIMITS OF THE CITY OF GRAPEVINE, TEXAS: AND
PROVIDING PENALTIES AND INTEREST F'OR DELINQUENT
TAXFS, AND PROVIDING FOR THE INTRA AND INTER-
DEPARTMENT AND FUND TRANSFERS, AND PROVIDING
FOR THE INVESTMENT OF IDLE FUNDS:
WF�REAS, notice of a public hearing on the Budget for the City
of Grapevine, Texas for the fiscal year 1973-74 was heretofore
-� published at least five 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 GOUNCIL OF THE CITY
OF GRAPEVINE, TEXAS:
SECTION 1.
That a tax is hereby levied upon all taxa.ble property in the City
of Grapevine, Texas for the year, 19'73, at the rate of $1.30 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 ($100.00) dollars valuation on al�
taxable property within the City of Grapevine, Texas, to be
assessed and collected by the Tax Assessor and Collector for
the year 1973, 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 .63%
(b) For the Interest and Sinlcing Fund
levied on the $100.00 valuation .3?%
�,,..,�
TOTAL LEVY 100 %
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SECTION 3.
That the City Manager be and is hereby authorized 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 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 Account in Official City Depositories.
Interest accrued f rom such investments may be deposited to the
General Fund.
SECTION 5.
Taxes levied by this ordinance shall be due and payable on October
�° � l, 1973, and shall become delinquent on the first day of February
1974, if unpaid; upon taxes becoming delinquent, a penalty of 10�
�y of such delinquent taxes shall accrue on the first day of February.
Interest upon delinquent taxes and penalties shall accrue at the
rate of 6gb per annum commencing f rom the date 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 puzpose of collecting delinquent taxes.
SECTION 6.
The fact that the fiscal year begins on October 1, 1973, 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.
PASSED ON FIRST READING TO THE SECAND READING BY AN AFRIRMATIVE
VOTE OF ALL MEMBERS PRESENT ON September 4 1973 •
pASgED AND APPROVED ON ITS SECOND RfiADING BY AN AFFIRMATIVE
VOTE OF ALL MEMBERS PRESENT ON Se tember 18 973 •
� ,
� A.PPROVED: ��� _
` Mayor
""y� ATTEST: �
City Sec •
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