HomeMy WebLinkAboutOrdinance No. 319 ORDINANCE NO.�G�
AN ORDINANCE PROVIDING FOR THE ASSESSMENT, LEVY
AND CQLLECTION OF AD VALOREM TAXES FOR THE CITY
OF FRIENDSWOOD, TEXAS , FOR THE YEAR 1978 AND FOR
EACH YEAR THEREAFTER UNTIL OTHERWISE PROVIDED; AND
REPEALING ALL ORDINANCES AND PARTS OF ORDINANCES IN
COZdFLICT HEREWITH.
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WHEREAS , the Budget of the City of Friendswood for the
fiscal year 1978-1979 has been adopted; and
WHEREAS , certain revenues from sources other than ad
valorem taxes will be available for a portion of the expendi-
tures in such Budget; and
WHEREAS , ad valorem taxes shall be levied and collected
to provide the additional revenues necessary to meet the re-
maining portion of such expenditures ; now, therefore , in accor-
dance with such Budget and pursuant thereto ,
BE IT ORDAINED BY TI�E CITY COUNCIL OF THE CITY OF FRIENDSWOOD,
STATE OF TEXAS :
Section 1. All 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
Assessor 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 i978 , and for
each year thereafter until otherwise provided, an ad valorem
tax at the rar_e of Ninety-two and Fourteen One Hundredths
Cents ($ . 9214) on each One Hundred Dollars ($100 . 00) of assessed
evaluation on all property, rea1 , personal , and mixed, within
the corporate limits upon which an ad valorem tax is authorized
by law to be levied by the City of Friendswood, and upon all
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franchises of all individuals and corporations holding
franchises from the City. The proceeds from such tax shall
be applied to the payment of the general and current expenses
of the government of the City, including payment of any obli-
gations for which taxes are not levied by another section
hereof and for the payment for which provision is not other-
wise made. All such taxes shall be assessed and collected in
current money of the United States of America.
Section 3 . For the purpose of paying the interest and
providing a sinking fund for the payment of the bonded indebted-
ness and the certificates of obligation of the City of Friends-
wood, including the various installments of principal due on
the serial bonds and the certificates of obligation issued by
the City of Friendswood as such installments shall respectively
mature, and for the purpose of repaying any sums borrowed in
anticipation of current revenues for use in the payment of
bonds and certificates of obligation and interest thereon
maturing in the fiscal year 197$-1979 , 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, there is hereby levied for the year 1978 , and
for each year thereafter until otherwise provided, to be as-
sessed and collected upon all property and franchises described
in Section 1 of this ordinance, an annual ad valorem tax at the
rate of T`wenty-two and Eighty-six One Hundredths Cents ($ . 2286)
on each One Hundred Dollars ($100. 00) of assessed valuation.
Section 4. Under the provisions of Section 8 . 03 (E) of
the Home Rule Charter of the City of Friends�aood, the ad valorem
tax rate of the City may be adopted by ordinance on one reading;
therefore, this ordinance shall be finally passed on the date ,
of its �ntroduction, this llth day of September, 1978 , and
sha11 take effect immediately upon its passage .
Section 5 . All ordinances or parts of ordinances in
conflict herewith are hereby repealed.
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PASSED, APPROVED, AND ADOPTED this llth day of September,
1978.
Mayor
ATTEST:
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ity Secretary
APPROVED AS TO FORM:
City Attorney
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