HomeMy WebLinkAboutOrdinance - 8957-1986 - Ordinance 8957 Setting Property Tax Rate; Interest For Non-Payment - 08/14/1986First Reading
August 14, 1986
Agenda Item #21
Second Reading
August 28, 1986
Agenda Item #14
DGV:js 8957 ORDINAN::E ro. ___ _
AN ORDINAN:!E SETrm:; THE TAX RATE AND LEVY!m A TAX UPON ALL PROP-
ERTY SUBJECr W TAXATION WITHIN THE CI'IY OF L'IJBBCXlC, TEXAS, FOR THE YEAR
1986 APl?ORI'IONING SAID LE.VY AIDNG THE VARIOUS FUNDS AND ITEJIIS FOR WHIOI
RE.VENUE MUST BE RAISED; FIXING THE TIME IN WHIOI SAID TAXES BE PAID AND
ASSESSING PENALTY AND INTEREST FOR N:>NPAYMEN!' OF stXli TAXES WI'lmN 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; RlV THEREFORE:
BE IT ORDAINED BY TBE CITY <X.XJOCIL OF THE CITY OF LUBOOCK:
SECTION 1. '!BAT there shall be levied and assessed upon all prop-
erty subject to taxation within the City of Lubbock, Texas, for the year
of 1986, the sum of $.60 per One Hundred Dollars ($100.00) valuation
thereof, and the same shall be applied to the various funds in the fol-
lowing manner:
$ .2738 per $100 valuation to the Interest and Sinking Fund, allo-
cated moong the existing Interest and Sinking Funds as shown on the
attached schedule;
$ .2762 per $100 valuation to the General Fund7
$ .0500 per $100 valuation to the Board of City Developnent Fund.
SECTION 2. THAT all ad valorem taxes shall be paid before the
first day of February, 1987, and taxes not paid by that time shall be in-
creased 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 City Council on first reading this 14th day of August
1986.
Passed by City Council on second reading this 28th day of August
1986.
ATTFS.r: ~~
APP.R0\1ID AS m CON.rENT:
~&:~~~ ::Robert Massengale;ASSt:~ ty
Manager for Financial Setvices
Doriald G. Vandiver, First Asst.
City Attomey
-2-
Ordinance #8957
CITY OF LUBBOCK
DEBT SERVICE FOR WHICH TAX IS LEVIED
FISCAL YEAR 1986-87
1986-87 Calculated
Debt At 97% Pro-rated
Series Purpose of Issue Service Collection of .2738
1983 General Obligation 2,198,300 2,266,289 0.045833
1985 Refunding Bonds 9,839,496 10,143,810 0.205147
1986 Certificates of Obligation 984,952 1,015,414 0.020536
TOTAL GENERAL OBLIGATION BONDS 13,022,748 13,425,513 0.271516
Collection costs for Debt Service 109,549 112,937 0.002284
TOTAL DEBT SERVICE REQUIREMENTS 13,132,297 13,538,451 0.273800
cz•=•=••••= -------··-= ••c•===•••==
..
THE STATE OF TEXAS
COUNTY OF LUBBOCK
R-Z70
Before me G I end a R a i co a Notary Public in and for Lubbock County. Texas on this day
personally appeared Tw:i II Auf i 1 1 , Ace o unt Manaut; r of the Southwestern Newspa-
pers Corporation. publishers of the Lubbock Avalanche-Journal -Morning. Evening and Sunday, who
being by me duly sworn did depose and say ,that said newspaper has been published continuously for more
than fifty-two weeks prior to the first insertion of this laital ~lotic::e
--------..,..---:---:-:--:--:---No. -2.56008 at Lubbock County, Texas and the attached print-
ed copy of the LeE!a I Notice is a true copy of the original and was printed in the Lubbock
Avalanche-Journal on the following dates: AuE!ust 30: Seotemher s, 1986 516 words @ 38t = $196 os; 6 w rds@ 41t = $211.56. Total = $407.64
o(a_,easdo
Account Manae:er
LUBBOCK AVALANCHE-JOURNAL
Southwestern Newspapers Corporation
GLENDA RASCO -
Notarw PubliC In And For Til. State 01 T~ltl$
Mt Comm1~~ion t~prre~ Nc·,. 9. 1~88 ..._
Subscribed and sworn to before me this 5th day of SePtem:be r . 19 86 · ·.·· ORDINANCts' NO. ff$1 " AN OROINAIIICI! A8ANOON-ING AND.C:l.1;>$1tf0 .PORT!t)N$ ~'!·M .IU.I!CDJ( UHE £ASJ!. Mc:N'I' LOCA'trto ltf SEeT!ofHJ. BLOCK A TO THE CITY OF. LVB-BOCk, LUII!IOCkCOUNTV; TEX·
AS. AND MORE J'ARTtCULAI!U, y
DE$CR18EI) IN THE BODY CF
THIS OROJMANCE; DIRECTUiG I' l'HE CITY ENGINEER TO'NIARk • tTHI!. OFFICI. AI. MAI>S OF THE . i lTV .01' 'LI.I880C:k TO.-E~.
J,f'LECT SAID ABANDONMENT
AND C. LOS. lNG; PR.OVIDING A ,$AVINGS Cl./>.USE;·AND f'RO-. ' VI DING FOR PUBLICA TIOI\I.,'
'. •· .·.ORDINANCEH0.19SS
t AN ORDIN~NCfi AMENDING . --~HAPTER 2, ARTIC:Li;! XVI OF' THE CODE OF GRDINANc:ES OF . THE C:l'tY OF LU8BO¢K BY
SPEC IF. tCALLY AMENDttfG .IECTJOII 2·412 •. SECTION t.' SUBSECTIONS (f). (e); th), AND
REPEALING SUBSECTION Uh OF SAID CHAI>TER; PROVIDING ·.
FOR STAFF PERSONNEL 1'01( THE BOARD OF CITY.OI!VEL• OPMEMT AND BY ADDING A· N!'W SECTION NUMBERED AS
:SECTlON 2-43 OF SAID CHAP.
TER. WHICH SECTION ESTAII· .LISHES RELATIONS IIETWEEN
THE BOARD OF CITY DEVEL· ~ OPMENT AND. ADMINI$f·RA-.
TillE DEPARTMENTS OF THt
I f~I tt_'i'r,fe~OVIOING A $Av.
f.. -· ·· ··OROINAN~ 1957 AN O!!DINANCE $ETTING
THE TAX RATE ANO LEVYING
A TAX UPON ALL' PROPERTY '51JBJI!CTTOTAXATIONWJTH[N. THE CITY OF LUBBOCK, 'I'EX~ AS, FOR THE YEAR 1986 APPOR·
TIONING SAID LEVY AMONG THE VARIOUS FWIOS'AND ITEM$ FOR WHICit REVENUE .
MUST BE RAISEOl f'IXING Ttt&, TIME IN WHICH SAID TAXES 81!. PAID AND ASSESSING PENAL·. ,'f'i' AND'!NTI!;REST FOR NON• I>AYMENT OF SU(H TAXES·
, IN!1HJN THE tiME PROVIQEI:I. ..
·· ORDINANCE NO.I9$6 , AN ORDINANCE APPI\OVING • #.ND ADQPTING A BUDGET FQR .
. FISCAL YEAR UIW7J APPROV-. lNG REVISED BUDGET ·FIG· ,URES FOR ,TWE.f!'ISCAL'.,'11185-86i.
PROVIDING I'OA NECESSARY
TRANSFERS OF FUNtl$ BE· .'I'WEEN ACCOUNTS ANO OE· PARTM~TII. IF !:)• AND APPROP..RIA OS FOR Tltl!: ltf6.11 ~~IITOP'tH& .eiTYOF LUB-
Il410