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OR 19 Levys ad valorm taxes at rate of 25 cent per $100 on taxable property within corporate limits ORDINANCE NO. 19 AN ORDINANCE OF THE TOWN OF COPPELL, TEXAS, LEVYING THE AD VALOREM TAXES FOR THE YEAR 1964 AT A RATE OF TWENTY-FIVE CENTS ($.25 ) PER ONE HUNDHED DOLLARS ($100.00) ASSESSED VALUATION ON ALL TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS OF THE TOWN OF COPPELL, TEXAS, AS OF JANUARY 1, 1964, TO PRO- VIDE REVENUES FOR THE PAYMENT OF CURRENT EXPENSES; PROVIDING INTEREST AND SINKING FUND ON ALL OUTSTANDING DEBTS OF THE TOWN OF COPPELL, TEXAS; PROVIDING FOR DUE AND DELINQUENT DATES TOGETHER WITH PENALTIES AND INTEREST; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE TOWN OF COPPELL, TEXAS: SECTION 1: That there be and is hereby levied for the year of 1964 on all taxable property~ real, personal and mixed, situated within the corporate limits of the Town of Coppell, and not exempt by the Constitution of the State and valid State laws, a tax of//~E~-F~ cents ($. ,ZY) on each One Hundred Dollar ($100.00) assessed value of taxable property, and shall be apportioned and distributed as follows: (a) For the purpose of creating a sinking fund to pay the interest and principal maturities of all outstanding bonds of the Town of Coppell, not otherwise provided for, a tax of ~ cent~ ($. ,~ on each One Hundred Dollar ($100.00) assessed value of all taxable proper~y within the Town of Coppell, and shall be applied to the payment of interest and maturities of all such outstanding bonds. (b) For the purpose of defraying the current expenses of the municipal government of the City a tax of [W~_Fdu~ cents ($. .~___) on each One Hundred Dollar ($100.00) assessed value of all taxable property. SECTIOIq 2: That all ad valorem taxes shall become due and payable on October 1, 1964, and all ad valorem taxes for the year 1964 shall become delinquent after January 31, 1965. There shall be no discount for payment of taxes prior to January 31, 1965. If any person fails to pay the ad valorem taxes on or before the 31st day of January, 1965, 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 cen~ (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 1964 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 p~ovi~es. pASSED ON THE ~'~____day of ~/~Ad~/q- , 1964. APPROVED: ATTEST: -2-