OR 166 Levys the Ad Valorem Taxes for the year 1976 at a rate of $0.95 per $100.00 ORDINANCE NO. 166
AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, LEVYING
THE AD VALOREM TAXES FOR THE YEAR 1976 AT A RATE OF $.95
PER ONE HUNDRED DOLLARS ($100.00) ASSESSED VALUATION ON ALL
TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS OF THE CITY AS
OF JANUARY 1, 1976; 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 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 1976 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 $ o ~D~' 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 $ ~ ~/J 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 $ ~ ~ on each
One Hundred Dollars 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 1, 1976, and all ad valorem taxes
for the year shall become delinquent after January 31, 1977.
There shall be no discount for payment of taxes prior to said
January 31, 1977. If any person fails to pay the ad valorem
taxes on or before the 31st of January, 1977, the following
penalties shall be payable thereon, to-wit:
During the month of February, one percent (1%);
during the month of March, two percent (2%); during the month
of April, three percent (3%); during the month of May four
percent (4%); during the month of June five percent (5%); and
on or after the 1st of July, eight percent (8%).
the office
all rights
of the
SECTION 3. Taxes are payable in Coppell, Texas, at
of the Tax Collector. The City shall have available
and remedies provided by law for the enforcement
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. All delinquent taxes shall bear interest
at the rate of six percent (6%) per annum in addition to the
penalties provided herein.
SECTION 6. The fact that it is necessary that this
ordinance be enacted in order to authorize the collection of
ad valorem taxes for the year 1976, 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.
DULY PASSED by the City Council of the City of
APPROVED:
/ /
ATTEST:
yI Y SECRET
APPROVED AS TO FORM: