OR 98-849 Levys taxes for 1998 at .6486 per $100
ORDINANCE NO. 98849
AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, LEVYING THE AD VALOREM
TAXES FOR THE YEAR 1998 AT A RATE OF .6486 PER ONE HUNDRED DOLLARS
($100) ASSESSED VALUATION ON ALL TAXABLE PROPERTY WITHIN THE
CORPORATE LIMITS OF THE CITY AS OF JANUARY 1, 1998; 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 1998 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 .6486 on each One Hundred
Dollars ($100) assessed value of taxable property, and shall be apportioned and distributed as
follows:
a) For the PURPOSE of defiaying the current expenses of the municipal government
of the City, a tax of $.41870 on each One Hundred Dollars ($100) 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 .22990 on each One
Hundred Dollars ($100) 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 valorera taxes shall beenme due and payable on October 1,
1998 and all ad valorera taxes for the year shall become delinquent aRer January 31, 1999.
There shall be no discount for payment of taxes prior to said Janumy 31, 1999. A delinquent tax
shall incur all penalty and interest authorized by law (33.01 PTC), to wit: a penalty of six
percent of the mount 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 become delinquent.
Provided, however, a tax delinquent on July 1, incurs a total penalty of twelve percent of
the amount of the delinquent lax 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, 1999, 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 Attomey
pursuant to Section 6.30 of the Property Tax Code.
SECTION 3. Taxes are payable in CoppeIl, Texas, at the office of the Tax
Assessor/Collector. The City .qhail 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 1998, this ordinance shall take effect
liom and after its passage as the law in such cases provides.
DULY PASSED and adopted by the City Council of the City of Coppelt, Texas, this the
8th day of September, 1998.
2yORP~;~' ~C,-/
ATTEST:
CITY SECRETLY
APPROVED AS TO FORM: