HomeMy WebLinkAboutOrdinance - 7149-1975 - Setting The Tax Rate And Levying A Tax Upon All Property Subject To Taxation - 09/11/1975r KJ:rrn·
ORDINANCE NO. 7149
AN ORDINANCE SETTING THE TAX RATE AND LEVYING A
TAX UPON ALL PROPERTY SUBJECT TO TAXATION WITIDN THE CITY
OF LUBBOCK, TEXAS,. FOR THE YEAR 1975; APPORTIONING SAID LEVY
AM)NG THE VARIOUS FUNDS AND ITE:M3 FOR WHICH REVENUE MUST BE
RAISED; FIXING THE TIME IN WinCH SAID TAXES BE PAID AND ASSESS-
ING PENALTY AND INTEREST FOR NON-PAYMENT OF SUCH TAXES
WITHIN THE TIME PROVIDED.
WHEREAS, the City Counc il, after all notices have been given and
hearings held as provided by law, has determined ~he tax rate necessary to
produce the revenue necessary to operate the affairs of the City of Lubboc k
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 prope
subject to taxation within the City of Lubbock, Texas, for the year of 1975,
the sum of $1.36 per One Hundred Dollars ($100. 00) valuation thereof, and
the same shall be applied to the various funds in the following n:anner:
$. 61 per $100 valuation to the Interest and Sinking Fund
$ • 70 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 .. 1976, and taxes not paid by that time shall be increased by
such penalty and interest as provided by Chapter 30 of the Code of Ordinance
of the City of Lubbock.
AND IT IS SO ORDERED.
Passed by the Council on first reading this II th. day of September .. 1975.
Passed by the Council on second reading this 25thday of Septembeq .. 1975.
R~~MAYOR
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