HomeMy WebLinkAboutOrdinance No. 249 ORDINANCE NO. 249
A.N ORDINANCE PROVIDING FOR THE A.SSESSMENT, LEVY AND
COLLECTION OF A,D VA.LOR.EM TAxES FOR THE CITY OF
FRIENDSWOOD, TEXA,S, FOR THE YEA,R. 1975 A,ND FOR EA,CH
YEA.R THEREAFTER UNTIL OTHERWISE PROVIDED; A.ND RE-
PEA,LING A.LL ORDINA.NCES A.ND PA.R.TS OF OR.DINA,NCES IN
CONFLICT HEREWITH
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WHEREA.S, the Budget of the City of Friendswood for the
fiscal year 1975-1976 has been adopted; and
WHEREA.S, certain revenues from sources other than ad
valorem taxes will be available for a portion of the expenditures in
such Budget; and
WHEREA.S, ad valorem taxes sha11 be levied and collected
to provide the additional revenues necessary to meet the remaini.ng
portion of such expenditures; now, therefore, in accordance with such
Budget and pursuant thereto,
BE IT ORDA.INED BY THE CITY CQUNCIL OF THE CITY OF
FRIENDSWOOD, STA,TE OF TEXA.S:
Section 1. A,11 property subject to ad valorem taxation by the
City of Friendswood shall be equally and uniformally assessed for
such purposes at sixty (60) percent of the full cash market value of
such property. The action of the Tax A.ssessor establishing such
assessment ratio is hereby in all things adopted, ratified, and confirmed.
Section 2. There is hereby levied for general purposes for
use by the City of Friendswood for the year 1975, and for each year
thereafter until otherwise provided, an ad valorem tax at the rate of
eighty-seven cents ($. 87) on each One Hundred Dollaxs ($100. 00)
of assessed evaluation on all property, real, personal, and mixed,
within the corporate limits upon which an ad valorem tax is authorized
by law to be levied by the City of Friendswood, and upon all franchises
of all individua].s and corporations holding franchises from the City.
The proceeds from such tax shall be applied to the payment of the
general and current expenses of the governxnent of the City, including
payment of any obligations for which taxes are not levied by another
section hereof and for the payment for which provision is not otherwise
made. A.11 such taxes shall be asses�ed and collected in current money
of the United States of A,merica.
Section 3. For the purpose of paying the interest and providing
a sinking fund for the payxnent of the bonded indebtedness and the cer-
tificates of obligation of the City of Friendswood, including the various
installments of pri.ncipal due on the serial bonds a,nd the certi.ficates of
obligation issued by the City of Friendswood as such installments shall
be respectively mature, and for the purpose of repaying any sums
borrowed in anticipation of current revenues for use in the payment of
bonds and certificates of obligation and interest thereon maturing in
the fiscal year 1975-1976, and for the purpose of paying interest and
making provisions for the sinking fund on such other bond issues and
certificates of obligation as may be authorized, and is hereby ].evied
for the year 1975, and for each year thereafter until otherwise provided,
to be assessed and collected upon a11 property and franchise described
in Section 1 of this ordinance, an annual ad valorem tax at the rate of
thirty-three cents ($. 33) on each One Hundred Dollars ($100. 00) of
assessed eva].uation.
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Section 4. A,11 ordinances or parts of ordinances in conflict
herewith axe hereby repealed.
PA,SSED A.ND A.PPROVED on first reading this 15th day of
September, 1975.
PASSED A.ND A.PPROVED on second reading this 29th day
of September, 1975.
PA.SSED A.ND A,PPROVED on third and fi.nal reading this 13th
day of October, 1975.
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MA.YOR
A,TTEST:
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City Secretary
A,PPR.OVED A.S TO FOR.M:
City A.ttorney
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