HomeMy WebLinkAboutORD 1968-029 ORDINANCE 1�0. 68-29
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AN ORDINAI�C� ADOPTING THE BUDGET FOR THE C21'Y OF
GitAPEVINE� TEXAS� FOR THE FISCAL YEAR �3EGINNING
OCTOBER i, 1968 AI.vD E��tDxrrG SEPTEi�L;ER 30, i969:
LEVYING TAXES FOR THE YEAR 1968 1'0 BE ASSESSED ON
At..L TAXABLE P�OPERTY WIT'HIN THE LIMITS OF THE CSTY
aF GRAPEV INE� TE�CAS: AND PR�V IDING PBdVALTIES AND
IAITfiREST FOR DELINQUENT TAXES� AND PR4VIDING FOR
THE INTRA ATTD I1�TTER•.DEPARTT�TT A1�3D FUND TcZANSFERS�
�,,� AND PROVI�iPi� FO:� 1'�IE rn�J'EST►�fENT OF IDLE FUNDS:
WHEREAS, notice of a public hearing an the Budget for the City
�� of Grapevine, Texas for the fiscal year 1968-69 was heretafore
published at least five days in advance of said hearirig, and
k�REAS, a public hearing was duly held and all interested persons
K*�re given an opportun3ty to be hea�rd for or against any itc�n
therein,
1VOW� THEREFORE� 3E IT ORDAINED $Y THE CITY COUNCIL � THE CZ1'Y
OF GRAPEV INE� TEJ�AS:
SECTIOr� l.
That a ta�t is hezeby levied upon all taxable property in the City
of Grapevine, Texas for the year, 1968, at the rate of $1.00 per
One Hundred Dollars ($100.00) valuation,
SECTION 2.
� a
That ther.e shall be and there is heseby levied the foliowing
taxes on each one hundred ($lOO.OQ) dollars valuation on a11
� taxable property within the C�ty of Grapevine� Texas, to be
asses5ed and col].ected by the 2ax Assessor and Collector for
�_-� the year 1968, and said taxes are to be assessed and collected
for the purpose he=einafter stipulated, to-�wit:
{a) For the General Fund levied on
the $100,00 valuation $ .�3 1/2
(b) Fox the Interest and Sinking Fund
levied on the $100.00 valuation $ .26 1/2
TOTAL LEVY $ 1.00
SECTIOI�1 3.
That the City Manager be and is hereby authorized to make intr�
and inter depaxt:aent fund transfers during the fiscal year as
becomes necessary in order to a�roid over expenditures of a
particular account.
SECTION �.
- That the City �+lanager is authorized to invest any funds not
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needed for cur.�en� ��se, whether operating funds or bond funds
in United States Treasury Bills� Certiiicates of Deposit,
'� : Savings Accounts, and/or Time Deposit Open Account �in Official
City Depositories. Interest accrued from such investments may
be deposited to the General Fund.
SECTION 5.
Taxes levied by this ordinance shall be due and payable on
October 1, 1968, and shall become delinquent on the first .day
of February 1�69� if unpaid; upon taxes beccjming deiinquent,
a penalty of 1090 of such delinquent taxes shall accrue on the
first da.y of February. Interest upon delinquent taxes and
penalties shal7. accrue at the ratP of 6� F2x �ni���m. commencing
froYa the date o:E delinquency. The City of Grapevine is here-
by authorized to adopt any and all legal remedies provided by
the Revised Civil Statutes of the State of Texas and the
Grapevine City Chartes as provided in Article 9, Section 9.25
for the purpose of collecting delinquent taxes.
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SECTION 6.
The fact that the fiscal year begins on October 1, 1968, re-
quires that this ordinance be effective upon its passage and
w.� adoption to preserve ti�e public peace, property, health and
safety� and the rules requiring ordinances be read and passed
on two sepaxate dates is hereby suspended and this ordinance
shall be in full force and effect from and after its passage
and adoption.
PASSED AND APPROVED THIS THE 1_th DAY OF September �1968
APPROVED: t �
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Mayor
ATTEST:
��,.�G?G�..��•.....�.
City Secretary