HomeMy WebLinkAboutOrdinance - 8489-1983 - Ord. Setting Tax Rate And Levying A Tax On All Property Subj. To Taxation In LBK - 09/25/1983DGV:cl
ORDINANCE NO. 8489 ,__ _____ _
AN ORDINANCE SETTING THE TAX RATE AND LEVYING A AX UPON ALL PROPERTY
SUBJECT TO TAXATION WITHIN THE CITY Of LUBBOCK, TEXAS fOR THE YEAR 1983,
APPORTIONING SAID LEVY AMONG THE VARIOUS FUNDS AND IT MS fOR WHICH REVENUE
MUST BE RAISED; FIXING THE TIME IN WHICH SAID TAXES B PAID AND ASSESSING
PENALTY AND INTEREST fOR NON-PAYMENT Of SUCH TAXES WI HIN THE TIME PRO-
VIDED.
WHEREAS, the City Council, after ell notices hav been given end
hearings held es provided by law, has determined the ax rate necessary to
produce the revenue necessary to operate the affairs f tt'le ,City of Lubbock
for the next fiscal year; NOW THEREFORE: !
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUB~OCK:
SECTION 1. THAT there shall be levied and as~essed upon ell
property subject to taxation within the City of Lubbo k, Texas, for the
year of 1983, the sum of $.61 per One Hundred Dollars ($100.00) valuation
thereof, end the same shell be applied to the various funds in the fol-
lowing manner:
$.337 per $100 valuation to the Interest an Sinking fund,
allocated among the existing Interest end S nking funds as shown
on the attached schedule; I
l
$.223 per $100 valuation to the General funf;
$.0500 per $100 valuation to the Board of Cfty Development fund.
SECTION 2. THAT all ad valorem taxes shall bi paid before the
first day of February, 1984, end taxes not paid by th~t time shall be
increased by such penalty and interest as provided byjChapter 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 25th day of August, 1983.
Passed by the City Council on second reading this 8th day of September,
1983.
ATTEST:
APPROVED AS TO CONTENT:
~ oerf Massengale,A istant
City Manager
GENERAL OBLIGATION BONDS
DEBT SERVICE FOR WHICH TAX IS LEVIED
FISCAL YEAR 1983-84
I
1983-841
Debt l Pro-rated in I
Series Pureose of Issue Servi cei ¢ of -337
I
1964 Parks $ I .000138 5,079,
1964· General Ob l igat ion I 147,284: .004005
I
1965 Parks 10,4801 .000285 I
I 1965 General Obi lgation 78,6001 .002137
1966 General Obligation 164,625 .004477
1967 General Obligation 140,937 .003833
1968 General Obligation 230,565 .006270
1969 General Obligation 199,680 .OOp430
1970 General Obligation 203,925 .005545
1971 General Obligation 457,887 .012451
1972 General Obligation 812,700 .022100
1973 General Obligation 461,947 .012562
1974 General Obligation 751,500 .020436
1975 General Obligation 113,541 . 003088
1976 General Obligation 131 , 440 .003574
1978 General Obligation 207,835 .005652
1979 General Obligation 832, 150 .022629
1980. General Obligation 68 I ,400 .018530
198 I General Ob I igat ion 2,248,330 .061139
1982 General Obligation l ,637,800 .044537
1983 General Obligation 2,875,063 .078182
TOTAL $12,392,768 ,337000