HomeMy WebLinkAboutORD 1976-026 �,,:.. ORDINANCE NO. 76-26
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� AN ORDINANCE ADOPTING THE BUDGET FOR THE
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CITY OF GRAPEVINE, TEXAS, FOR THE FISCAL
YEAR BEGINNING OCTOBER l, 1976 AND ENDING
SEPTEMBER 30, 1977: LEVYING TAXES FOR
THE YEAR 1976 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; PROVIDING
FOR THE COLLECTION OF DELINQUENT TAXES
AND DECLARING AN EMERGENCY.
WHEREAS, notice of a public hearing on the Budget for the
City of Grapevine, Texas, for the fiscal year 1976-77 was here-
tofore published in accordance with law; 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;
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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
�, ,.„ OF GRAPEVINE, TEXAS:
SECTION l.
That the budget presented by the City Manager reviewed
during the public hearing is hereby approved for the fiscal
year 1976-77.
SECTION 2.
That a tax is hereby levied upon all taxable property in
the City of Grapevine, Texas for the year, 1976, at the rate
of 89� per One Hundred Dollars ($100.00) valuation.
SECTION 3.
That there shall be and there is hereby levied the follow-
ing taxes on each one hundred ($100.00) dollars 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 1976-77, and said taxes are to be assessed and
collected for the purpose hereinafter stipulated, to-wit:
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�:,: , (a) For the General Fund of the $.89
levied on the $100.00 valuation 86% or . 77�
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(b) For the Interest and Sinking Fund
of the $.89 levied on the $100.00
valuation 5% or .04�
(c) Utility Fund of the $.89 levied on
the $100.00 valuation 9% or .08G
100% .89�
SECTION 4.
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 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/or Time Deposit Open Account in Official
�_, City Depositories. Interest accrued from such investment may
be deposited in the General Fund. Al1 of which investments
shall be in accordance with law.
SECTION 6.
Taxes levied by this ordinance shall be due and payable
on October l, 1976, and shall become delinquent on the first
day of February, 1977, if unpaid; upon taxes becoming delinquent,
a penalty of 10% of such delinquent taxes shall accrue on the
first day of February. Interest upon delinquent taxes and
penalties shall accrue at the rate of 6% per annum commencing
from 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
purpose of collecting delinquent taxes .
SECTION 7.
�; , The fact that the fiscal year begins on October 1, 1976,
requires that this ordinance be effective upon its passage and
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adopted 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 hereby declared.
PASSED AND APPROVED BY AN AFFIRMATIVE VOTE OF ALL MEMBERS
R PRESENT ON ����„n� �J �-/ I'l���i -
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MAYOR
ATTEST:
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City Secre�ary
APPROVED AS TO FORM:
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City Attorney
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