HomeMy WebLinkAboutOrdinance No. 80-16 d
ORDINANCE N0. 80/16
AN ORDINANCE PROVIDING FOR THE ASSESSMENT , LEVY AND
COLLECTION OF AD VALOREM TAXES FOR THE CITY OF
FRIENDSWOOD, TEXAS FOR THE YEAR 1980 AND FbR EACH
YEAR THEREAFTER UNTIL OTHERWISE PROVIDED; AND REPEAL-
ING ALL ORDINANCES AND PARTS OF ORDINANCES IN CONFLICT
HEREWITH.
WHEREAS , the Budget of the City of Friendswood , Texas
for the fiscal year 1980-1981 has been adopted; and
WHEREAS , certain revenues from sources other than ad
valorem taxes will be available for a portion of the expenditures
in such Budget ; and
WHEREAS , ad valorem taxes should be levied and collected
to provide the additional revenues necessary to meet the re-
maining portion of such expenditures ; now, therefore , in accord-
ance with such Budget and pursuant thereto ,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD,
STATE OF TEXAS :
Section l. 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 (100) percent of the
full cash market value of such property.
Section 2 . There is hereby levied for general purposes
for use by the City of Friendswood, Texas , for the year 1980 , and
for each year thereafter until otherwise provided, an ad valorem
tax at the rate of Fifty Three and Sixty One One-Hundredths Cents
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( $.�3�-�) on each One Hundred Dollars ($100 . 00 ) 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 , and upon all
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 obligations
for which taxes are not levied by another section hereof and for
which provision is not otherwise made. All such taxes shall be
assessed and collected in current money of the United States of
America.
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Section 3 . For the purpose of paying the interest and
providing a sinking fund for the payment of bonded indebtedness
and the certificates of obligation of the City of Friendswood,
Texas , including the various installments of principal due on
the serial bonds and the certificates of obligation issued by
the City 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 certifi-
cates of obligation and interest thereon maturing in the fiscal
year 1980-1981, 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 1980 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 Twenty Four and Thirty
Nine One-Hundredths Cents ( $. 2439 ) on each One Hundred Dollars
($100 . 00 ) of assessed valuation.
Section 4. All ordinances and parts of ordinances in
conflict herewith are , to the extent of such conflict , hereby
repealed.
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PASSED, APPROVED, AND ADOPTED this ��day of September,
1980 .
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ATTEST: Mayor
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City Secretary
APPROVED AS TO FORM:
City Attorney