OR 154 Levys the Ad Valorem Taxes for the year 1975 at a rate of $0.95 per $100.00 ORDINANCE NO. 154
AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, LEVYING
THE AD VALOREM TAXES FOR THE YEAR 1975 AT A RATE OF $ 0.95
PER ONE HUNDRED DOLLARS ($100.00) ASSESSED VALUATION ON ALL
TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS OF THE CITY AS
OF JANUARY 1, 1975; 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 1975 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 $ 0.95 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 $_-.917 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 $ 0.833 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, 1975, and all ad valorem taxes
for the year shall become delinquent after January 31, 1976.
There shall be no discount for payment of taxes prior to said
January 31, 1976. If any person fails to pay the ad valorem
taxes on or before the 31st of January, 1976, 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%).
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
City Council, together with
same are hereby approved.
the tax rolls, as presented to the
any supplement thereto, be, and the
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 1975, 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
Coppell, Texas, this the Z6th day of August , 1975.
APPROVED:
MAYOR
ATTEST: