HomeMy WebLinkAboutOrdinance No. 95-28 ORDINANCE NO. 95-28
AN ORDINANCE PROVIDING FOR THE ASSESSMENT, LEVY,
AND COLLECTION OF AD VALOREM TAXES OF THE CITY OF
FRIENDSWOOD, TEXAS, FOR THE YEAR 1995 AND FOR EACH
YEAR TI-�REAFTER UNTII, OTHERWISE PROVIDED; PROVIDING
THE DATE ON WHICH SUCH TAXES SHALL BE DUE AND
PAYABLE; PROVIDING FOR PENALTY AND INTEREST ON ALL
TAXES NOT TIMELY PAID; AND REPEALING ALL ORDiNANCES
AND PARTS OF ORDINANCES 1N CONFLICT HEREWITH.
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WHEREAS, Section 26.05 of the Texas Property Tax Code provides that by S�ptember 1
or as soon thereafter practicable, the governing body of each taxing unit shall adopt a tax rate for
the current tax yeax; and
WHEREAS, such Section further provides that where the t�rate consists of two
components (one which will impose the amount of taxes needed to pay the unit's debt service and
the other which will impose the amount of t�es needed to fund maintenance and operation
expenditures of the unit for the next year), each of such two components must be approved
separately; and
WHEREAS, the proposed tax rate for the current tax year of the City of Friendswood,
Texas, consists of two such components, a tax rate of$.1476 for debt service and a tax rate of
$.468 to fund maintenance and operation expenditures; and
WHEREAS, by separate motions heretofore adopted by the City Council of the City of
Friendswood, Texas, at a said meeting of City Council held on this 18th day of September, 1995,
said City Council has approved separately the tax rate heretofore specified for each of said
components; and
WHEREAS, having thus separately approved the tax rate for each of such components, it
is necessary and appropriate for the City Council to now formally pass, approve, and adopt a
1995 Tax Rate Ordinance of the City of Friendswood, Texas; now, therefore
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD, STATE
OF TEXAS:
Section 1. The facts and recitations set forth in the preamble of this Ordinance are found
to true and conect and are hereby adopted, ratified, and confirmed.
Section 2. All property subject to ad valorem taxation by the City of Friendswood, Texas,
shall be equally and uniformly assessed for such purposes at One Hundred Percent (100%) of the
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fair market value of such property.
Section 3. There is hereby levied for general purposes and use by the City of
Friendswood, Texas, for the year 1995 and for each thereafter until otherwise provided, an ad
valorem tax at the rate of$.468 on each One Hundred Dollars ($100) of assessed valuation on all
property, real, personal, and mixed, within the corporate limits upon which an ad valorem tax is
authorized by law to be levied by the City of Friendswood, Texas.
The proceeds from such tax sha.11 be applied to the payment of the general and current expenses of
the government of the City. All such taxes shall be assessed and collected in current money of the
United State of America.
Section 4. For the purpose of paying the interest on bonds, warrants, certificates of
obligation, or other lawfully authorized evidence of indebtedness issued by the City of
Friendswood, Texas, including the various installments of principal due on the serial bonds,
warrants, certificates of obligation, or other lawfiully authorized evidence of indebtedness issued
by the City as such installments sha11 respectively mature, and for the purpose of repaying any
sums borrowed in anticipation of cunent revenues for use in the payment of bonds and
certificates of obligation and interest thereon maturing in the fiscal year 1995/96, and for the
purpose of paying interest and making provisions for the sinking fund on such other bond issues,
warrants, certificates of obligation, or other lawfully authorized evidence of indebtedness as may
be authorized, there is hereby levied for the year 1995 and for each thereafter until otherwise
provided, to be assessed and collected upon all property described in Section 3 of this Ordinance,
an annual ad valorem tax at the rate of$.1476 on each One Hundred ($10�) of assessed valuation.
Section 5. All ad valorem taa{es levied hereby, in the total amount of$.6156 cents on each
One Hundred Dollars ($100) of assessed valuation, as reflected by Sections 3 and 4 hereof, shall
be due and payable on or before January 31, 1996. All ad valorem taa�es due the City of
Friendswood, Texas, and not paid on or before January 31 st following the year for which they
were levied sha11 bear penalty and interest as prescribed in the Property Taa�code of the State of
Texas.
Section 6. All ordinances and parts of ordinances in conflict herewith are, to the e�ent of
such conflict, hereby repealed.
PAS SED, APPROVED, AND ADOPTED this 1 Sth day of September, 1995.
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Mayor E lyn B. Newman
Att t:
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Deloris McKe 'e, C
City Secretary