HomeMy WebLinkAboutOrdinance - 9003-1980 - Ordinance Setting Tax Rate Upon All Property Subject To Taxation For 1980 - 08/28/1980~. -··· ,, ~· :;~
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.JCR:cl ORDINANCE NO. ___ 9_0_0_3 _____ _
. --> t j, AN ORDINANCE SETTING THE TAX RATE AND LEVYING A TAX UPON ALL PROPERTY
a\~~\~~ SUBJECT TO TAXATION WITHIN THE CITY OF LUBBOCK, TEXAS, FOR THE YEAR 1980; AP-"'..~fO ?., 0 \. ~r.c.. I! PORTIONING SAID LEVY AMONG THE VARIOUS FUNDS AND ITEMS FOR WHICH REVENUE MUST
~ (') \. ·.-.1 BE RAISED; FIXING THE TIME IN WHICH SAID TAXES BE PAID AND ASSESSING PENALTY 1b'· "S~ \J AND INTEREST FOR NON-PAYMENT OF SUCH TAXES WITHIN THE TIME PROVIDED.
WHEREAS, the City Council, after all notices have been given and hearings
held as provided by law, 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 sub-
1 ject to taxation within the City of Lubbock, Texas, for the year of 1980, the
i sum of $1.10 per One Hundred Dollars ($100.00) valuation thereof, and the same r shall be applied to the various funds in the following manner: !
1: $.37 per $100 valuation to the Interest and Sinking Fund, allocated
11 among the existing Interest and Sinking Funds as shown on the attached
·~~ schedule
11 $.68 per $100 valuation to the General Fund
$.05 per $100 valuation to the Board of City Development Fund li !i
i] 1: SECTION 2. THAT all ad valorem taxes shall be paid before the first day
II of February, 1981, and taxes not paid by that time shall be increased by such I
I
. penalty and interest as provided by Chapter 30 of the Code of Ordinances of the
• City of Lubbock.
I I AND IT IS SO ORDERED. i ~~~ Passed by the City Council on first reading this 28tlalay l Passed by the City Council on second reading this llthda
I II
I!.--~ATTEST:
APPROVED AS TO .FORM:
BIIJ
•
Attorney
__ ..;;A.;;;.;u~gl.,;;u..;;s..;;t'---' 198Q.
-~~~=: ___ ,1980.
ll ' . _',\..;.. ii' 4 !I • Iii . . " :1: :i:
:H GENERAL OBLIGATION BOND lt1
il DEBT SERVICE FOR WHICH TAX IS LEVIED !l
!! FISCAL YEAR 1980-81 :!! ,j·•
1!: % of li'
II: Purpose of Issue Debt Service .370000 !~ ~
i!; Storm Sewer $ 27,366 .001575
L I' Park 15,203 .000875
!.·
;1, Fire Station 9,122 .000525 F .,:
•i ,, ,,, Street Lighting 6,081 .000350 iii :!II
I'' " Storage & Garage Building 8,108 .000467 r ,1·
I!! :[!
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1 Water, Sewer & Electric * 115,191 .006631
!:;:;
:;; Street Improvements 101,375 .005835 ·' l'i
1l1
I' I· General Obligation 117,013 .006736 ,,.
li: ,,
'I I' Park 15,720 .000905 lli
il'
11· General Obligation 99,560 .005731
!j Park 5,550 .000319
General Obligation 160,950 .009265
Park 11,425 .000658
General Obligation 85,688 .004932
. General Obligation 181,800 .010465
General Obligation 154,406 .008888
General Obligation 254,505 .014650
'
I' I
General Obligation 229,280 .013198
I General Obligation 226,950 .013064
I General Obligation ** 407,549 .023459
II General Obligation ** 673,426 .038764
General Obligation · 505,654 .029107
• • • •
•
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GENERAL OBLIGATION BOND
DEBT SERVICE FOR WHICH TAX IS LEVIED
FISCAL YEAR 1980-81
(Continued)
General Obligation 815,750
General Obligation 124,181
General Obligation 141,520
General Obligation 230,125
General Obligation 913,769
General Obligation 790,517
TOTAL $6,42T,784
.046957
.007148
.008146
.013247
.052599
.045504
.370000
* Adjusted to reflect transfer from Electric Revenue Fund for Debt Service. 1
** Adjusted to reflect Hotel-Motel Tax application.