HomeMy WebLinkAboutOrdinance No. 81-16
/""
-...
--
~.,-
ORDINANCE NO. \ j
AN ORDINANCE PROVIDING FOR THE ASSESSMENT, LEVY AND
COLLECTION OF AD VALOREM TAXES FOR THE CITY OF FRIENDS-
WOOD TEXAS FOR THE YEAR 1981 AND FOR EACH YEAR THERE-
, ,
AFTER UNTIL OTHERWISE PROVIDED; AND REPEALING ALL ORDI-
NANCES AND PARTS OF ORDINANCES IN CONFLICT HEREWITH.
*
*
*
'k
WHEREAS, the Budget of the City of Friendswood, Texas, for
the Fiscal year 1981-1982 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,
w~EREAS, ad valorem taxes should be levied and collected
to provide the additional revenues necessary to meet the remain-
ing portion of such expenditures; now, therefore, in accordance
with such Budget and pursuant thereto,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD,
STATE OF TEXAS:
Section 1. 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 1981, and
for each year thereafter until otherwise provided, an ad valorem
tax at the rate of Fifty-Three and Zero-One Hundredths Cents (.5300)
on each One Hundred Dollars ($100.00) of asses~ed 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 the payment for
which provision is not otherwise made. All such taxes shall be
assessed and collected in current money of the United States of
America.
r _
.A
Section 3, For the purpose of paying the interest and
providing a sinking fund for the payment of bonded indebtedness
and the certificates of ob.ligation of the City of Friendswood,
Texas , including the various installments of principal due on the
serial bon ds 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 certificates
of obligation and interest thereon maturing in the fiscal year
1981-1982 , and for the purpose of paying interest and making pro-
visions for the sinking fund on such other bond issues and certi-
ficates of obligations as may be authorized, there is hereby
levied for the year 1981 and for each year thereafter until other-
wise 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 �aenty-Four and Fifty Hundredths
Cents ( . 2450) on each One Hundred Dollars ($100. 00) of assessed
valuation.
Section 4. All ordinances and parts of ordinances in con-
flict herewith are , to the extent of such conflict, hereby repealed.
PASSED, APPROVED, AND ADOPTED this 31st day of August, 1981.
�
��r c :���,/� ,�-
Mayor �
:
ATTEST: '
�r ___�C��
��-���.� �
City Secretary
APPROVED AS TO FORM:
City Attorney
-2-