HomeMy WebLinkAboutOrdinance - 7735-1978 - Ordinance 7735 Setting Tax Upon Property Assessing Penalty/Interest Non-Payment - 09/28/1978/ KJ:hw 7735 ~-,,, 2··===ff:~==::=====================================¼= ~)~
ORDINANCE NO.
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·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 1978; 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 pro-
perty subject to taxation within the City of Lubbock, Texas, for the
year of 1978, the sum of $1.12 per One Hundred Dollars ($100.00)
valuation thereof, and the same shall be applied to the various funds
in the following manner:
$.32 per· $100 valuation to the Interest and Sinking Fund,
allocated among the existing Interest and Sinking Funds as
shown on the attached schedule;
$.75 per $100 valuation to the General Fund
· $.05 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, 1979, 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 14th day of September 19 8.
Passed by the City Council on Second reading this~~ay of Septeml:Jerl978
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ATTEST:
E~~easure
APPROVED AS TO FORM:
. Ross, Jr., CityAttorney
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CITY CF' LUBBOCK, TEXAS
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GENERAL OBLIGATION BOND
DEBT SERVICE FOR WHICH TAX 15 LEVIED
TAX RATE
PER $100
PURPOSE OF ISSUE SERIES DEBT SERVICE VALUATION
Storm Sewer' 1951 $ 27,707.70 $.001637
Park 1951 14,917.60 .000882
Fire Sta ti on 1951 9,573.75 .000566
Street Lighting 1951 5,343.85 ,000316
Storage & Garage Bldg. 195 l 8,510.00 .000503
Water, Sewer & Electric *>'= 1951 I I 4, .857. 35 .006786
Street Improvements 1956 106,875.00 .006315
Genera 1 Ob 1 i gat ion 1959 35,595.00 .002103
Park 1959 15,255.00 .000901.
General Ob 1 i gation 1960 188,762.50 .011153
Park 1960 25,437,00 .001503
Genera 1 Obligation 1961 125,062.50 .007389
General Obligation 1962 105,640.00 .006242
Park 1962 16,680.00 .000986
General Ob] i gation 1964 169,867 .so .010037
Park 1964 5,857.50 .000346
General Ob l i gat ion 1965 85,070.00 .005026
Park 1965 17,270.00 .001020
Genera I Obligation 1966 192,975.00 .011402
Genera I Obi i gat ion 1967 163,250.00 .009646
Genera 1 Obi igation 1968 270,465.00 .015980
General Obligation 1969 255,567.50 .015100
General Ob 1 i ga t ion 1970 253,350.00 .014969
General Ob l i ga t ion * 1971 · 435,042.00 .025704
General Obi i gat ion ";~ 1972 840,008.00 .049631
General Obligation 1973 534,082.50 .031556
General Obligation 1974 857,000.00 .050635
General Obligation 1975 136,043.75 .008038
General Ob Ii gat ion .1976 144,207.50 .008520
General Obi igation 1978 255,700.00 .015108
TOTAL $5,415,973.50 $.320000
* Adjusted to reflect Hotel-Motel Tax application. ** Adjusted ·to reflect transfer from Electric Revenue Fund for Debt Service.