OR 140 Levys the Ad Valorem Taxes for the year 1974 at a rate of $.95 per $100.00 ORDINANCE NO. 140
AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, LEVY-
ING THE AD VALOREM TAXES FOR THE YEAR 1974 AT A RATE OF
$ .95 PER ONE HUNDRED DOLLARS ($100.00) ASSESSED VALUA-
TION ON ALL TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS
OF THE CITY AS OF JANUARY 1, 1974 TO PROVIDE REVENUES FOR
THE PAYMENT OF CURRENT EXPENSES AND TO PROVIDE AN INTEREST
AND SINKING FUND ON ALL OUTSTANDING DEBTS OF THE CITY; PRO-
VIDING 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 1974 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 $ .9~' 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 ex-
penses of the municipal government of the City a tax of
$.q~/~' 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, 1974, and all ad valorem taxes
for the year shall become delinquent after January 31, 1975.
There shall be no discount for payment of taxes prior to said
January 31, 1975. If any person fails to pay the ad valorem
taxes on or before the 31st of January, 1975, the following
penalties shall be payable thereon, to-wit:
During the month of February, one
per-cent (1%); during the month of March, two per-cent (2%);
during the month of April, three per-cent (3%); during the
month of May four per-cent (4%); during the month of June five
per-cent (5%); and on or after the 1st of July, eight per-
cent (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 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 in-
terest at the rate of six per-cent (6%) per annum, in ad-
dition to the penalties provided herein.
SECTION 6. The fact that it is necessary that
this Ordinance be enacted in order to authorize the collec-
tion of ad valorem taxes for the year 1974, 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 ~-~Aday of ~,~) , 1974.
AP P ROVE D:
MAYOR
ATTEST:
CITY SECRETARY
APPROVED AS TO FORM:
ATTORNEY