HomeMy WebLinkAboutOrdinance No. 86-21 ORDINANCE N0. 86-21
AN ORDINANCE PRaVIDING FOR THE ASSESSMENT, LEVY, AND
COLLECTION OF AD VALOREM TAXES OF THE CITY OF
FRIENDSWOOD, TEXAS, FOR THE YEAR 1986 AND FOR EACH
YEAR THEREAFTER UNTIL OTHERWISE PROVIDED; PR�IIDING
THE DATE ON WHICH SUCH TAXES SHALL BE DUE AND
PAYABLE; PRCJVIDING FOR PENALTY AND INTEREST ON ALL
TAXES NOT TIMELY PAID; AND REPEALING ALL ORDINANCES
AND PARTS OF ORDINANCES IN CONFLICT HEREWITH.
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WHEREAS, Section 26 . 05 of the Texas Property Tax code
provides that by September 1 or as soon thereafter as
practicable�� the governing body of each taxing unit shall adopt a
tax rate for the current tax year; and
WHEREAS, such Section further provides that where the tax
rate consists of two components (one which will impose the amount
of taxes needed to pay the unit's debt service and the other
which will impose the amount of taxes needed to fund maintenance
and operation expenditures of the unit for the next year) , each
of such two components must be approved separately; and
WHEREAS, the proposed tax rate for the current tax year of
the City of Friendswood, Texas, consists of two such components,
a tax rate of $. 214 for debt service and a tax rate of $. 481 to
fund maintenance and operation expenditures; and
WHEREAS, by separate motions heretofore adopted by the City
Council of the City of Friendswood, Texas, at a special meeting
of said City council held on this 13th day of October, 1986, said
City Council has approved separately the tax rate heretofore
specified for each of said components; and
WHEREAS, having thus separately approved the tax rate for
each of such components, it is necessary and appropriate for the
City Council to now formally pass, approve, and adopt a 1986 tax
rate ordinance of the City of Friendswood, Texas; now, therefore
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD,
STATE OF TEXAS:
Section 1. The facts and recitations set forth in the
preamble of this Ordinance are found to be true and correct and
are hereby adopted, ratified, and confirmed.
Section 2. Al1 property subject to ad valorem taxation by
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the City of Friendswood, Texas, shall be equally and uniformally
assessed for such purposes at One Hundred Percent (100�) of the
fair market value of such property.
Section 3 . There is hereby levied for general purposes and
use by the City of Friendswood, Texas, for the year 1986, and for
each year thereafter until otherwise provided, an a� valorem tax
at the rate of $. 481 on each One Hundred Dollars ($100) 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.
The proceeds from such tax shall be applied to the payment of the
general and current expenses of the government of the City. All
such taxes shall be assessed and collected in current money of
the United States of America.
Section 4. For the purpose of paying the interest on bonds,
warrants, certificates of obligation, or other lawfully
authorized evidence of indebtedness issued by the City of
Friendswood, Texas, including the various installments of
principal due on the serial bonds, warrants, certificates of
obligation, or other lawfully authorized evidence of indebtedness
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 1986, and for the purpose of paying interest and
making provisions for the sinking fund on such other bond issues,
warrants, certificates of obligation, or other lawfully
authorized evidence of indebtedness as may be authorized, there
is hereby levied for the year 1986 and for each year thereafter
until otherwise provided, to be assessed and collected upon all
property described in Section 3 of this Ordinance, an annual ad
valorem tax at the rate of $.214 on each One Hundred Dollars
($100) of assessed valuation.
Section 5. Al1 ad valorem taxes levied hereby, in the total
amount of $. 695 cents on each One Hundred Dollars ($100) of
assessed valuation, as reflected by Sections 3 and 4 hereof,
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� shall be due and payable on or before January 31, 1987. All ad
valorem taxes due the City of Friendswood, Texas, and not paid on
or before January 31 following the year for which they were
levied shall bear penalty and interest as prescribed in the
Property Tax Code of the State of Texas.
Section 6. Al1 ordinances and parts of ordinances in
conflict herewith are, to the extent of such conflict, hereby
repealed.
PASSED, APPRaVED, AND ADOPTED this 13th day of October,
1986.
c Mayor Ralph L. Lowe
f
Delo is McKenzi
City Secretary
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