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Home My WebLink AboutOrdinance - 9103-1987 - Levying Tax Upon All Property Subject To Taxation, 1987 - 08/13/1987DGV:js Ffrst Reading August 13, 1987. Agenda Item If Second Readfog August 27, 1987 Agenda Item #21 ORDINANCE NO. 9103 AN ORDINANCE SETTING THE TAX RATE ANO LEVYING A TAX UPON ALL PROPERTY SUBJECT TO TAXATION WITHIN THE CITY OF LUBBOCK, TEXAS, FOR THE YEAR 1987, j APPORTIONING SAID LEVY AMONG THE VARIOUS FUNDS ANO ITEMS FOR WHICH REVENUE !, MUST BE RAISED; FIXING THE TIME IN WHICH SAID TAXES BE PAID AND ASSESSING PENALTY ANO INTEREST FOR NONPAYMENT OF SUCH TAXES WITHIN THE TIME PROVIDED. h II 11 !: i! Ii H \ WHEREAS, the City Council, after all notices have been given and hear- ings held as provided by law, has determined the tax rate necessary to pro- duce 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 of 1987, !j the sum of $.61 per One Hundred Dollars ($100.00) valuation thereof, and the same shall be applied to the various funds in the following manner: ![ l1 l l I I $.2833 per $100 valuation to the Interest and Sinking Fund, allocated among the existing Interest and Sinking Funds as shown on the attached schedule; $.2767 per $100 valuation to the General Fund; $.0500 per $100 valuation to the Board of City Development Fund. II SECTION 2. THAT all ad valorem taxes shall be paid before the first ii day of February, 1988, and taxes not paid by that time shall be increased by :I such penalty and interest as provided by Chapter 26 of the Code of Ordi- nances of the City of Lubbock. ANO IT IS SO ORDERED. Passed by City Council on first reading this ]3th day of August 1987. Passed by City Council on second reading this 27th day of August 1987. ~c. McMINN, MAYOR APPROVED AS TO FO~ ~2&2J~ ; ~ Donald G. Vandiver, First Assistant City Attorney Ord. #9103 CITY OF LUBBOCK DEBT SERVICE FOR WHICH TAX IS LEVIED FISCAL YEAR 1987-88 CALCULTATED FY 1987-88 AT 97 PERCENT SERIES PURPOSE OF ISSUE DEBT SERVICE OF COLLECTION -------------------------------------------------------1983 GENERAL OBLIGATION $2,105,800 $2,170,928 1985 REFUNDING BONDS 9,323,601 9,611,960 1986 CERTIFICATES OF OBLIGATION 966,381 996,269 1987 GENERAL OBLIGATION 899,583 927,406 1986 NOTES PAYABLE 40,000 41,237 ------------------------GENERAL OBLIGATION BONDS $13,335,366 $13,747,800 ------------------------ COLLECTION COSTS FOR DEBT SERVICE 95,700 98,660 FISCAL AGENT FEES 10,000 10,309 ------------------------TOTAL DEBT SERVICE REQUIREMENTS $13,441,066 $13,856,769 •==••====•== ==•====-=c-==• PRORATION OF • 2833 PERCENT ------------0.0443844 0.1965154 0.0203686 0.0189607 0.0008431 ------------0.2810721 ------------ 0.0020171 0.0002108 ------------0.2833000 •==•======•== LUBBOCK CENTRAL APPRAISAL DISTRICT Mr. Robert Massengale Assistant City Manager City of Lubbock P.O. Box 2000 Lubbock, Texas 79457 Dear Mr. Massengale: August 25, 1987 The Lubbock Central Appraisal District, in serving the best interests of the taxing units and the public of Lubbock County, must produce the 1987 tax bills in time to meet the mailing date of October 1, 1987. In order to assure this mailing date the 1987 adopted tax rates for all units served by the Lubbock Central Appraisal District must be loaded to our computer for processing and production of tax bills by September 15, 1987. It would really be helpful if we could have your 1987 adopted tax rate as soon as your governing body adopts the rate. The 1987 tax rate must be set by ordinance, resolution or order, depending on the method prescribed by law for adoption of a rate by a governing body. Please furnish a copy of the ordinance, resolution or order adopting your unit's 1987 tax rate and listing its components (M&O and I&S) by September 1 or as soon thereafter as practicable, but in any event no later than September 15, 1987. Thank you for your attention to this matter. Sincerely, 4~J;~ Roger Sage ~ssociate Director of Administration RS:ml cc: Dave Kimbrough 1715. 26th STREET P.O. BOX 10542 LU880CK, TEXAS 79408 (806) 762-5000 THE STATE OF TEXAS COUNTY OF LUBBOCK I ., • ..,~. Before me France6 Hernandez a Notary Public in and for Lubbock County. Texas on this day personallyappeared Twila Aufill, Account Manas:er oflheSouthwesternNewspa- pers Corporation. publishers of the Lubbock Avalanche-.Journal -Morning. Evening and Sunday. who being by me duly sworn did depose and say that said newspaper has been published continuously for more than fifty-two weeks prior to the first insertion of this -L,-o;e...cE!;....,ail-l-1........,N .... o,_t..._,__i._c ... e ___________ _ ______________ No 825534 at Lubbock County. Texas and the attached print- ed copy of the Le~a I Notice Avalanche-.Journal on the following dates: 495 words@ -41 & .44t Account Manae:er LUBBOCK AVALANCHE-JOURNAL Southwestern Newspapers Corporation is a true copy or the original and was printed in the Lubbock Ausust 29, SePtember 5, 1987 = $420,75 / Subscribed and sworn to before me this -Q..th-day of 5 apt ember . 19~~[ · . ~ . j ftDINANCE ffllO ,, , . . • ' -• .,_A.N t:litDJNAllCE I ~ ". OltslllAtrU lfflltJ . •iii P.RIMA FAc;1e ~= .. ~= ~.1';g>:;~ :,,{__~~ m::::::t'irl.,mu,,2,r. !cn·v 01' t.UBBOCK, TEXAS, . 1'1.tll , TER MORE PARTICULARLY •wK.,C>O.ffEAI& 1>esCR1at:D. FRANCES HERNANDEZ NOTAfN'Puw,L1 .D.Esea,seo IN THE BODY o~ :~ij-:i~e~~ ~H~Jt~fs~~Jg' In And For The State Of Texas. .1111si~J:;~:WJ~f~:~~ 1,c1TY LIMITS OF THe.cm OF • • • J··.t &.. -i.0.91 CT THERETO; REPEAL. FORMss.10 ,1 ... t.uaaoc1t.:TEKAS:'PRov10,wG. My Comm,ss10n Ex,M,res ..,_iy .,, .,., . o coNFL1cT1No 0R01. FOR INCLUSION OF A SERVICE . ,I NCES TO THE EXTENT OF !PLAN;•PROVll)IN\i'F.Ot COR• i $UCHCONFLICT;APf>LICATION ---------t·ReCT.ION OF.,ffi .. e.Cl'ti".11\AP T. 0 ·r· 01' 1l11S ORDINANCE ONLY TO ,INCLUDE tiHS A't>blTrONAL r----------_,.; _ _;:_ ____________ _;__..:. _ _j&TRE.ETS DR HIGHWAYS TERR:IT()RY1 ,.ROVIDI.NG A ~MEO HEREIN; PROVIDING -SAVINGS CLA\iSE; f'ROVIOING ,nlS ORDINANCE SHALL BE AN, EFFECTIVE DA'l'.Et. AND :®MULATIVE; PROVIDING A PROV.DING FOR•fU8LICA• 0 Pf1NALTY1 PROVIDING A SAV, TJON, ·,•, · , . '· . . ' p;GSa.AUSEIANOPROVIDINO . ' ORDiNAN~ "102 .. · , .. Iii PU_BUCATION. . . . All ORDINANCE APPROVING t . . . <mOtNANCe #9101 , ; ·ANOAIIO~INGA81:/0$ETFOR ~. AN ORDINANCli; AMENDING :Fr~ YEAR 1987-a, Al'PROV•. ! .. ORDINANCE NO. ,115 SO AS TO JING·RE'illSEO BUOGl;T t'IG• C'HANGE THE EXISTl.NG ~O ·uta FOR THE FIS<:AL·1986-t7; · M.P.H. SPEED %ONE FOR PROVIQING FOR NECESSARY ~UTH llOUND,TRAFFIC TO.A TRAM$1"E.RS OF FUNDS BE' ;HfWcSM.P.H.SPli:EOZONEOF TWl;f:H.I ACCOJJNT, ANO DE• <I$ M.fl'.H. ON QUAKER AVENUE PARTMENTS. IF REQUIRED; .FOR liUCH SOUTH BOUND PROVlDING· fNCREASED REV• TRAFFIC 8EGINNI.NO AT •TH ENUESASREFt.ECTE!OIN$AU) •STREET ANO EX1'£NDING !BUDGET ev Rl!VISlNG MINI• SOUTH TO 19'tH STllEl!T'AND MUM WATER. RATES A$ CON•· I LEAVING THE EXISTING 45 TAI NED IN' SECTIONS 211·$2 AND , 11/1..P.ff.. SPli:ED %ONE THE SAME ,:18-53 OF THE CODI: OF ORDI• i F'OR NORTH BOUND TRAFFIC NAIIICl:$.OFTHE CITY OF 1.UB· .. ON QUAKER BEGINNING AT :; BOC,C:l PROVIDING INCREASEI) ; lfTN STRl!::ET AND EXTENDING , RlVENUES AS REFLECTED IN · NORTH TO 4TH STREET TO THE "."SAID BUDGET•BY ·REVISING f f!NDTKATAFTER PASSAGE OF ~ECTION 23-66CAH2l OF.THE '''tHIS.OIU)INANCE THERE :COOE·OFORDINANCESOFTHE ; $HALL BE·A A5 M.P.H. SPli:ED \CITYiOF.LUBBOCK INCREAS.-. %ONE IN EFFECT ON 80Ttt t!NO CERTAIN RATES FOR GAR•· ; SI.DES. OF QUAKEI/! AVENUE ,BAGEANDTRASHCl:>LLECTION : FROM •TH STREeT TO 19TH it,5 SET FORTH IN -SAID SEC· ·• ll'fRl::ETt AUTHORIZING THE :TION; ANO APPROPRIATING PLACINO OF SIGNS; PRESCRIS.O i'FUN~ FOR Ti-IE 1987.aa FISCAL fNG .A "PENAi.TV; PROVIDING iYli:AR BUDGET OF TtlE CITY F'OR PUBLICATION; REPEAL• kOF W880CK. "' ·. . . . . . '. ING AI.L ORDINANCES IN CON-( ' . ., . !l fl.lCT HEREWITH: PROVIDING ' I ORDINANCE ffl03 1, •HAT STREETS OR HI.GHWAYS 1 '. •. AN CltOINANCE SETT.ING Ii NOT SPECIFICALLY SET. · THE TAX RATE ANO LEVYING ,c FORTH HeRe1N SHAU. NOT ee ·A TAX .UPON "AU. PROPERTY jf AFFECT.ED av THE PROVI• SUBJli!CT TO TAXATIONWITHIN (. SION$ HEREOF AND THAT THIS · THe CITY OF LUBBOCK, TEX~· ": OltDINANCE SHALL IE CUMU~ As, FOR THE YEAlt ·1987; AP• t:1.ATIVE OF ALL OTHl!ll PRIMA ·::l;JJ~=t\G,.:1~~~ ilTNvD: '; ~JL5ffc~iN:JI1.°:i~~ · AIIID ITEMS l'OR WKICH REV• I, WHICH IT SPECIFIC.ALLY CON- UlUE MUST IE RAISE·D; FIX•' ,, F!,ICTS; PROVIDING A SAVINGS : !NO THIil TIMI! IN .WHICH SAIO 1: C\AUSE ANO PROVIOING l'OR ttAXet Bl! PAIi:> AN0 ASSE$S-,:. THE EFP:1!·. CTIVE DATE OFTH1$ ·' IN() PENALTY AND .INTERl.!ST OltDINANCI;. •f'OR llONPAYMENT OF SUCH llt-193 £TAXES WITHIN THE TIME PRO-___ _,_..._ __ _ '.VIDED. ~-i~~i.-.,+,..--.,'t -,~.~,,.,,.;_sh.,,-,,,,,~