OR 87-389 Levys Ad Valorem Taxes for 1987 at $0.56/$100.00 AN ORDINANCE OF THE CITY OF COPPELL, TEXAS
ORDINANCE NO. 87389
AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, LEVYING THE AD
VALOREM TAXES FOR THE YEAR 1987 AT A RATE OF $. 56 PER ONE HUNDRED
DOLLARS ($100.00) ASSESSED VALUATION ON ALL TAXABLE PROPERTY WITHIN
THE CORPORATE LIMITS OF THE CITY AS OF JANUARY 1, 1987; 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 1987 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
$ ~,, 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 mtmicipal
government of the City, a tax of $, 5~2~5 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 $ ,~1~85 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 Z. That all ad valorera taxes shall become due and payable on October
1, 1987, and all ad valorera taxes for the year shall become delinquent after January 31,
1988. There shall be no discount for payment of taxes prior to said January 31, 1988.
A delinquent tax shall incur all penalty and interest authorized by law (33.01 PTC), 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 penalty 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, 1988, 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 valorera taxes for the year 1987, 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 CoppelI Texas,
this the~2?~ t~ day of ,-5_~//7 ]'~v', 1987.
APPROVED:
MAYOR
~T~8T:
~5~ C~T~k"SECRETARy
APPROVED AS TO FORM:
ATT Y