HomeMy WebLinkAboutOrdinance - 8236-1981 - Set. Tax Rate Upon All Property Subj. To Taxation In Lubbock For Year 1981. - 08/27/1981t;-,{)..-r-~f I
DGV:da , ORDINANCE NO. 8236 'f •JD-'i/ ·
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 1981;
APPORTIONING SAID LEVY AMONG THE VARIOUS FUNDS AND ITEMS FOR WHICH REVENUE
MUST BE RAISED; FIXING.THE TIME IN WHICH SAID TAXES BE PAID AND ASSESSING
PENALTY 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 OlU>AINED 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
1981, the sum of $.66 per One Hundred Dollars ($100.00) valuation thereof,
and the same shall be applied to the various funds in the following
manner:
$.2875 per $100 valuation to the Interest and Sinking Fund, allocated
among the existing Interest and Sinking Funds as shown on the attached
schedule ·
$.3225 per.$100 valuation to the General Fund
$.0500 per $100 valuation to the Board of City Development Fund
SECTION 2. THAT all ad valorem taxes shall be paid before the first
day of February, 1982, and taxes not paid by that time shall be increased
by such penalty and interest as provided by Chapter 30 of the Code of
Ordinances of the City of Lubbock.
AND IT IS SO ORDERED.
Fassed by the City Council on first reading this 27th day of August, 1981.
Passed by tlie City Council on second reading the 10th day of September, 1981.
Bidil~i!il
·AtTEST:. -. ,. ""
APPROVED AS TO CONTENT:
APPROVED AS TO FORM:
"'.., ' ... ,.
~ ..
·' GENERAL OBLIGATION BOND •.
DEBT SERVICE FOR WHICH TAX IS LEVIED
FISCAL YEAR 1981-82
% of
Purpose of Issue Debt Service .2875
Park $ 15,240 .000509
General Obligation 96,520 .003225
Park 5,394 .000180
General Obligation 156,419 .005225
Park 11,115 .000371
General Obligation 83,363 .002785
General Obligation 176,100 .005883
General Obligation 149,938 .005009
General Obligation 246,525 .008236
General Obligation 218,880 .007312
General Obligation 219,450 .007331
General Obligation * 368,366 .012306
General Obligation * 653,284 .021824
General Obligation 491,242 .016411
General Obligation 794,625 .026546
General Obligation 120,806 .004036
General Obligation 138,240 .004618
General Obligation 222,085 .007419
General Obligation 888,181 .029671
General Obligation 729,400 .024367
General Obligation 2,820,850 .094236
TOTAL $8,606,023 .2875
*Adjusted to reflect Hotel-Motel Tax application.
~--., . : nm STATE OF TEXAS
~ , ·couNTY OF iPBB~f K . ~ ::-
Before ~e onn e McKee a Notary P11bii~ jn and.for Lji'i£>ck County, Texas on this day
... personally appeared Tvlla Fol&om,Bu&lnel& Ufta.ce Mama of the Southwestern Newspa-
pers Corporation. publishers of the Lubbock Avalanche-Journal -Morning, Evening and Sunday, who
being ?Y me duly sworn. did depose _and ~ay t~at said n_ewspapf{i \a{ be~18'flii!c:foi%°lljisp k¥icfaQCe
than fifty-two weeks prior to the first msertit°n of this O ce •
8104.50 No. n ne at Lubbock County, Texas and the attached print-
ed copy of the Notte~ is a true ~ou.y_of tbe.g,rjgin~lfirrss>eifffidil~he Lubbock
Avalanche-Journal on the following dates: Aul!U&~ _ZJ' 1YU;Le . . · . ·.
110540
LUBBOCK AVALANCHE-JOURNAL
Southwestern Newspapers Corporation
-Jrd SePtember 81 Su!Jscribed and sworn to before me this _ day of _____ ·_, 19 __
.. •
FORMSS-10
NOT.ICE· ·j
~-',-,
CALCULATION OF _EFFECTIVE.
TAX RATE
.. A city tax _rate has been ~alcu.lated by -~he Tax As·
: s'essor•Collector. The calculated rate' ~s .70 ,Pe_r
.. $100 assessed vr;ilue. The· Lubbock City Co~nc1I
moy not set a rate 1that_exceeds t~e c_alcutat_ed rate
by more than .3 per~ent ,withholding a public hear•
ing as required by Art. 7244c, Sec .. 2, VTCS. The
City· Council has tentatively agreed to set a 198_1
city ta" rate ~f .66 per $100 assessed value. This
rate is equivalent to the 1980 tax rate.
I
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