HomeMy WebLinkAboutOrdinance - 8364-1982 - Ord. Setting Tax Rate And Levying A Tax Upon All Property Subj. To Taxation. - 08/26/1982II
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cr-~·~~J-ORDINANCE NO. 8364
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 1982;
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 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
1982, 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:
$.2809 per $100 valuation to the Interest and Sinking
Fund, allocated among the existing Interest and Sinking
Funds as shown on the attached schedule;
$.279t 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, 1983, 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.
Passed by the City Council on first reading this-_·day of .•
Passed by the City Council on second reading this 23~dday of September, 1982 •
. · ATTEST:
APPROVED AS TO CONTENT: APPROVED AS TO FORM:
~ b.Z~.Aii>~ Donald G. Vandiver, First Assistant
City Attorn
GENERAL OBLIGATION BONDS
DEBT SERVICE FOR WHICH TAX IS LEVIED
FISCAL YEAR 1982-83
1982-83
Debt Pro-rated i
SerIes Purpose of Issue Service ~ of .2809
1964 Parks $ 5,236 .000151
1964 General Obl lgation 151,851 .004375
1965 Parks 10,800 • 000311
1965 General Obligation 81,000 .002334
1966 General Obligation 170,400 .004910
1967 General Ob 1 igat I on 145,438 .004191
1968 General Obligation 238,545 .006873
1969 General Obligation 209,880 .006019
1970 General Ob llgat ion 211,800 .006103
1971 General Ob 1 igat ion** 363,047 .010461
1972 General Obligation** 643,573 .018544
1973 General Ob 1 i gat ton 476,674 .013735
1974 General Obligation 773,250 .022280
1975 General Obligation 117 '244 .003381
1976 General Obligation 134,880 .003886
1978 General Ob 1 igat ion 214,345 .006176
1979 General Obligation 862,594 .024855
1980. General Obligation 705,400 .020325
1981 General Obligation 2,331,830 .067188
1982 General Obligation 1 '90 1 '980 .054802
TOTAL $9,749,767 .280900