HomeMy WebLinkAboutOrdinance - 2003-O0101 - Tax Rate And Levying A Tax Upon All Property Subject To Taxation 2003 - 09/04/2003First Reading
September 4, 2003
Item No. 41
ORDINANCE NO. 2003-00101
Second Reading
September 18, 2003
item No. 52
AN ORDINANCE SETTING THE TAX RATE AND LEVYING A TAX
UPON ALL PROPERTY SUBJECT TO TAXATION WITHIN THE CITY OF
LUBBOCK, TEXAS, FOR THE YEAR 2003; APPORTIONING SAID LEVY
AMONG THE VARIOUS FUNDS AND ITEMS FOR WHICH REVENUE MUST BE
RAISED; FIXING THE TIMES IN WHICH SAID TAXES SHALL BE PAID AND
ASSESSING PENALTY AND INTEREST FOR NONPAYMENT OF SUCH TAXES
WITHIN THE TIME PROVIDED.
WHEREAS, after all notices have been given and hearings held as provided by
law, the City Council has determined the tax rate necessary to produce the revenue
necessary to operate the affairs of the City of Lubbock for the next fiscal year; NOW
THEREFORE:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT there shall be levied and assessed upon all property subject
to taxation within the City of Lubbock, Texas, for the year 2003 the sum of $.5457 per
One Hundred and No/ 100s Dollars ($100.00) valuation thereof and the same shall be
applied to the various funds in the following manner:
$0.10066 per $100 valuation to the Interest and Sinking Funds, allocated
among the existing Interest and Sinking Funds as shown on the
attached schedule;
$0.41504 per $100 valuation to the General Fund; and
$0.03000 per $100 valuation to the Economic Development Fund.
SECTION 2. THAT all ad valorem taxes shall be paid before the first day of
February 2004, and taxes not paid by that time shall be increased by such penalty and
interest as is provided by Chapter 26 of the Code of Ordinances of the City of
Lubbock.
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AND IT IS SO ORDERED
Passed by the City Council on first reading this 4th day of September , 2003
Passed by the City Council on second reading this 18Zth
ATTEST:
ARebea Garza, City Secretary
APPROVED AS TO CONTENT:
City Manager
APPROVED AS TZRM:
i`
Richard Casner
First Assistant City Attorney
Ke/ccdocs/TaxRateOrdinance fy 03-04 1S1 Reading.accptd
August 28, 2003
, 2003.
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