HomeMy WebLinkAboutOrdinance No. 92-14 ORDINANCE N0. 92-14
AN ORDINANCE PROVIDING FOR THE ASSESSMENT, LEVY, AND
COLLECTION OF AD VALOREM TAXES OF THE CITY OF
FRIENDSWOOD, TEXAS , FOR THE YEAR 1992 AND FOR EACH
YEAR THEREAFTER UNTIL OTHERWISE PROVIDED; PROVIDING
THE DATE ON WHICH SUCH TAXES SHALL BE DUE AND
PAYABLE ; PROVIDING 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 taxin� 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 maintenanee
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 $. 1614 for debt service and a tax rate of
$. 5016 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 regular meeting
of said City council held on this 14th day of September, 1992,
said City Couneil has approved separately the tax rate heretofore
specified for eaeh of said components ; and
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WHEREAS, havin� thus separately approved the tax rate for
each of sueh components , it is necessary and appropriate for the
City Council to now formally pass , approve , and adopt a 1992 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:
Seetion 1 . The faets and recitations set forth in the
preamble of this Ordinance are found to be true and correet and
are hereby adopted , ratified , and confirmed .
Section 2. All property subject to ad valorem taxation by
the City of Friendswood , Texas , shall be equally and uniformally
assessed for sueh 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 1992, and
for each year thereafter until otherwise provided , an ad valorem
tax at the rate of $. 5016 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
sueh taxes shall be assessed and collected in current money of
the United States of America.
Seetion � . For the purpose of payin� the interest on bonds ,
warrants , certificates of obli�ation, or other lawfully
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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 evidenee 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 1992/93, and for the purpose of paying interest
and makin� provisions for the sinkin� fund on sueh 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 1992 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 $. 161� on eaeh One Hundred Dollars
( $100) of assessed valuation.
Section 5. All ad valorem taxes levied hereby, in the total
amount of $. 663 cents on each One Hundred Dollars ( $100) of
assessed valuation, as reflected by Sections 3 and � hereof,
shall be due and payable on or before January 31 , 1993 • All ad
valorem taxes due the City of Friendswood , Texas , and not paid on
or before January 31st 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.
Seetion 6 . All ordinances and parts of ordinanees in
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conflict herewith are , to the extent of sueh conflict, hereby
repealed .
PASSED , APPROVED , AND ADOPTED this 14th day of September,
1992.
���r�..�� f' y����4e�
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Mayor velyn B. Newman
ATT T :
Deloris MeKenzie , MC
City Seeretary
bdgt . tax
dmc
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