OR 47 Levys ad valoram taxes at rate of 55 cents per $100 on taxable property with corporate limits ORDINANCE NO. 47
AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, LEVYING THE
AD VALORAM TAXES FOR THE YEAR 1968 AT A RATE OF .55 CENTS ($0.55)
PER ONE HUNDRED DOLLARS ($100.00) ASSESSED VALUATION ON ALL
TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS OF THE CITY OF
COPPELL, TEXAS, AS OF JANUARY 1, 1968, TO PROVIDE REVENUES FOR
THE PAYMENT OF CURRENT EXPENSES; PROVIDING INTEREST AND SINKING
FUND ON ALL OUTSTANDING DEBTS OF THE CITY OF COPPELL, TEXAS;
PROVIDING FOR DUE AND DELINQUENT DATES TOGETHER WITH PENALTIES
AND INTEREST; AND DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COPPELL, TEXAS:
Section 1. That there be ans is hereby levied for the
year of 1968 on all taxable property, real, personal and mixed,
situated within the corporate limits of the city of Coppell,
and not exempt by the constitution of the state and valid state
laws, a tax of .55 cents ($.55) on each one hundred Dollars
($100.00) assessed value of taxable property, and shall be
apportioned and distributed as follows:
(a) For the purpose of creating a sinking
fund to pay the interest and principal maturities of all out-
standing bonds of the city of Coppell, not otherwise provided
for, a tax of .30 cents (~30) on each one Hundred Dollar
($100.00) assessed value of all taxable property, within the'-
City of Coppell, and shall be applied to the payment of interest
and maturieties of all such outstanding bonds.
(b) For the purpose of defraying the current
expenses of the municipal government of the City, a tax of
25 cents ($.25) on each one ~lndredDollar ($100.00) assessed
value of all taxable property.
Section 2. That all ad valorem taxes shall become due
and payable on October 1, 1968, and all ad valorem taxes for
the year 1968 shall become delinquent after January 31, 1969.
There shall be no discount for payment of taxes prior to
January 31, 1969. If any person fails to pay the ad valorem
taxes on or before the 31st day of January, 1969, the following
penalties shall be payable thereon, to-wit: During the month
of February, one per cent (1%); during the month of March,
two per cent (2%); during the month of April, three per cent
(3%); during the month of May, four per cent (4%); during
the month of June, five per cent(5%); and on or afterthe
of July, eight per cent (8%).
Section 3. Taxes are payable in Coppell, Texas, at
the office of the Tax Collector. The City shall have available
all the rights and remedies provided by law for the enforcement
of the collection of taxes levied under this ordinance.
Section 4. All delinquent taxes shall bear interest
at the rent of six per cent (6%) per annum, in addition to the
penalties provided for herein.
Section 5. The fact that it is necessary that this
ordinance be enacted in order to authorize the collection of
ad valorem taxes for the year 1968 creates an urgency and an
emergency and requires that this ordinance shall take effect
i~mediately from and after its passage, as the law in such
cases provides.
DULY PASSED ON THE /~ day of ~'~ 1968.
APPROVED:
ATTEST:
City Secretary
APPROVED AS TO FORM: