HomeMy WebLinkAboutOrdinance No. 227 ORDINANCE N0. 227
AN ORDINANCE PROVIDED FOR THE ASSESSMENT, LEVY
AND COLLECTION OF AD VALOREM TAXES FOR THE CITY
OF FRIENDSWOOD FOR THE YEAR 1974 AND FOR EACH YEAR
THEREAFTER UNTIL OTHERWISE PROVIDED: REPEALING
ALL ORDINANCES IN CONFLICT HEREWITH: AND DECLARING AN
EMERGENCY.
WHEREAS, the budget of the City of Friendswood for the
fiscal year 1974-1975 has been adopted and in accordance herewith
ad valorem taxes should be levied and collected to provide the
necessary revenues for the expenditures approved in such budget
(in addition to such amounts as will be available for that purpose
from other sources); Now, therefore, in accordance with such
budget and pursuant thereto,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF FRIENDSWOOD, THE STATE OF TEXAS:
Section 1. The assessment ratio for the valuation of property
subject to ad valorem taxes shall be that the assessed valuation
of all such property shall equally and uniformly be sixty pC'1"Cent (60%)
percent of the full cash market value of such property, and the action
of the Tax Assessor in so establishing the assessment ratio
is hereby in all things adopted, rat�fl ed and confirmed.
Section 2. There is hereby levied for general purposes,
to be assessed and collected in current money of the Uniiied States
of America, for use of the City of Friendswood, for the year 1974,
and for each year thereafter until otherwise provided, an ad valorem tax,
at the rate of seventy-six cents ($. 76) on each One Hundred Dollars
($100) of assessed valuation, on all property, real, personal and
mixed, within the corporate limits upon which a tax is authorized
by law to be levied by the City of Friendswood, and upon all
franchises of all individuals and corporations holding franchises
from tlre Ci.ty, the proceeds for such tax to be applied to the payment
of the general and current expenses of the government of the
City, including payment of any obligations for which taxes are
not levied by another section hereof and for the payment for
which provision is not otherwise made.
Section 3. For the purpose of paying the interest and pro-
viding a sinking fund for the payment of the bonded indebtedness
of the City of Friendswood, including the various i n stallments
of principal due on the serial bonds issued by the City of Friends-
wood as said installmer�s shall respectively mature, and for the
purpose of repaying any sums borrowed in anticipation of
current revenues for use in the payment of bonds and interest
therein maturing in the fiscal year 1974-1975, and for the
purpose of paying the interest and making provisions for the sinking
fund on such other bond issues as may be authorized, thereis
hereby levied for the year 1974, and for each year thereafter
until otherwise provided, to be assessed and collected upon
all property and franchises described in Section 1 of this ordinance,
an annual ad valorem tax at the rate of thirty-four ($. 34) cents
on each one hundred dollars ($100) of assessed valuation.
Section 4. All ordinances or parts of ordinances in conflict
herewith are hereby expressly repealed.
Section 5. The fact that it is necessary to provide for the levy
of ad valorem t�es for the current year creates a public
emergency requiring that this ordinance be passed finally on the
date of its int�oduction, therefore this ordinance shall be passed
finally on the date of its introduction, this 9th day of September ,
1974, and shall take effect immediately upon its passage and approval
by the Mayor.
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Passed, approved and finally adopted this 9th day of
September , 1974.
City of Friendswood, Texas
� . / r-'�
Ralph L. owe, Mayor
Attest:
� ' �
obbie C. Henry
City Secretary
Approved as to Form:
William A. Olson, City Attorney