OR 88-416 Levys Ad Valorem Taxes for 1988 at rate of $0.56/$100.00 AN ORDINANCE OF THE CITY OF COPPELL, TEXAS
ORDINANCE NO. 88416
AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, LEVYING THE AD VALOREM
TAXES FOR THE YEAR 1988 AT A RATE OF $0.56 PER ONE HUNDRED DOLLARS
($100.00) ASSESSED VALUATION ON ALL TAXABLE PROPERTY WITHIN THE
CORPORATE LIMITS OF THE CITY AS OF JANUARY 1, 1988; TO PROVIDE REVENUES
FOR THE PAYMENT OF CURRENT EXPENSES AND TO PROVIDE AN INTEREST AND
SINKING FUND ON ALL OUTSTANDING DEBTS OF THE CITY; PROVIDING FOR DUE AND
DELINQUENT DATES TOGETHER WITH PENALTIES AND INTEREST; AND DECLARING AN
EFFECTIVE DATE.
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 1988 on
all taxable property, real, personal and mixed, situated within the
limits of the City of COPPELL, Texas, and not exempt by the Constitution
of the State and valid State laws, a tax of $0.56 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 defraying the current expenses of the
municipal government of the CIty, a tax of $0.56 on each One Hundred
Dollars ($100.00) assessed value of all taxable property.
(b) For the purpose of creating a sinking fund to pay the interest
and principal on all outstanding bonds of the City not otherwise
provided for, a tax of $0.56 on each One Hundred Dollars ($100.00)
assessed value of all taxable property, within the City which shall be
applied to the payment of such interest and maturities of all
outstanding bonds.
SECTION 2. That all ad valorem taxes shall become due and payable
on October i, 1988, and all ad valorem taxes for the year shall become
delinquent after January 31, 1989. A delinquent tax shall incur all
penalty and interest authorized by law (33.01PTC), to wit: a penalty
of six percent of the amount of the tax for the first calendar month it
is delinquent plus one percent for each additional month or portion of a
month the tax remains unpaid prior to July 1 of the year in which it
becomes delinquent.
Provided, however, a tax delinquent on July 1, incurs a total
pentlty of twelve percent of the amount of the delinquent tax without
regard to the number of months the tax has been delinquent. A
delinquent tax shall also accrue interest at a rate of one percent for
each month or portion of a month the tax remains unpaid. Taxes that
remain delinquent on July 1, 1989, incur an additional penalty of
fifteen percent of the amount of taxes, penalty, and interest due: such
additional penalty is to defray costs of collection due to contract with
the City's Attorney pursuant to Section 6.30 of the Property Tax Code.
SECTION 3. Taxes are payable in Coppell, Texas, at the office of
the Tax Collector. The City shall have available all rights and
remedies provided by law for the enforcement of the collection of taxes
levied under this ordinance.
SECTION 4. That the tax rolls, as presented to the City Council,
together with any supplement thereto, be, and the same are hereby
approved.
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 1988, this ordinance shall take effect from and after its passage
as the law in such cases provides.
DULY PASSED and adopted by the City Council of the City of
Coppell, Texas, on the 27th day of September, 1988
APPROVED:
Lou Duggan
MAYOR
ATTEST:
Linda Grau
Asst.. CITY SECRETARY
APPROVED AS TO FORM:
ATTORNEY
EY