OR 42 Levys ad valorem taxes at rate of 55 cents per $100 on taxable property with corporate limits ORDINANCE NO. 42
AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, LEVYING
THE AD VALOREM TAXES FOR THE YEAR 1967 AT A RATE OF FIFTY-FIVE
CENTS ($0.55) PER ONE HUNDRED DOLLARS ($100.00) ASSESSED
VALUATION ON ALL TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS
OF THE CITY OF COPPELL, TEXAS, AS OF JANUARY 1, 1967, TO
PROVIDE REVENUES FOR THE PAYMENT OF CURRENT EXPENSES; PROVIDING
INTEREST AND SINKING FUND ON ALL OUTSTANDING DEBTS OF THE CITY
OF COPPELL, TEXAS; PROVIDING FOR DUE AND DELINQUENT DATES
TOGETHER WITH PENALTIES AND INTEREST; AND DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COPPELL, TEXAS:
Section 1. That there be and is hereby levied for the
year of 1967 on all taxable property, real, personal and mixed,
situated within the corporate limits of the City of Coppell, and
not exempt by the Constitution of the State and valid State laws,
a tax of 55 cents ($. ) on each One Hundred Dollar
($100.00) ~ssessed value o~le property, and shall be ap-
portioned and distributed as follows:
(a) For the purpose of creating a sinking fund
to pay the interest and principal maturities of all outstanding
bonds of the City of Coppell, not otherwise provided for, a tax
of .30 cents ($.30 ) on each One Hundred Dollar ($100.00)
assessed value of all~le property within the City of Coppell,
and shall be applied to the payment of interest and maturities
of all such outstanding bonds.
(b) For the purpose of defraying the current
expenses of the municipal government of the City, a tax of
cents ($. 25 ) on each One Hundred Dollar ($100.00) assesse2~'d'
value of a'Tr't3~able property.
Section 2. That all ad valorem taxes shall become due
and payable on October 1, 1967, and all ad valorem taxes for the
year 1967 shall become delinquent after January 31, 1968. There
shall be no discount for payment of taxes prior to January 31,
1968. If any person fails to pay the ad valorem taxes on or
before the 31st day of January, 1968, 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 after the 1st of July, eight per cent (8%).
Section 3. Taxes are payable in Coppell, Texas, at the
office of the Tax Assessor and 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 rate 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 1967 creates an urgency and an emergency
and requires that this ordinance shall take effect immediately
from and after its passage, as the law in such cases provides.
1967.
DULY PASSED on the 16th. day of
Oct.
1967
APPROVED:
Mayor
ATTEST:
APPROVED AS TO FORM:
City Secretary