HomeMy WebLinkAboutOrdinance - 2007-O0092 - Ordinance Setting Tax Rate: Per $100 - Sinking Funds; General/ Economic Dv Funds - 08/30/2007First. Reading
August 30,. 2007
Item No. 2.4
ORDINANCE NO. 2007-00092
Second Reading
September 13, 2007
It.em No. 6.7
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 2007; APPORTIONING SAID LEVY AMONG THE
VARIOUS FUNDS AND ITEMS FOR WHICH REVENUE MUST BE RAISED;
FIXING THE TIMES IN WHICH SAID TAXES SHALL BE PAID AND ASSESSJNG
PENALTY AND INTEREST FOR NONPAYMENT OF SUCH TAXES WITHIN THE
TIME PROVIDED.
WHEREAS, after all notices have been given and hearings held as provided by
law, the City Council has detennined 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 2007 the sum of $0.45505 per
One Hundred and No/100s Dollars ($100.00) valuation thereof and the same shall be
applied to the various funds in the following manner:
$0.07125
$0.35380
$0.03000
per $100 valuation to the Interest and Sinking Funds.
per $100 valuation to the General Fund; and
per $100 valuation to the Economic Development Fund.
This tax rate will raise more taxes for maintenance and operations than last
year's tax rate.
SECTION 2. THAT all ad valorem taxes shall be paid before the first day of
February 2008, and taxes not paid by that time shall be increased by such penalty and
interest as is provided by Chapter 26 of the Code of Ordinances of the City of Lubbock.
AND IT IS SO ORDERED
Passed by the City Council on first reading this 30th day of August , 2007.
VOTING FOR PASSAGE: VOTING AGAINST PASSAGE:
David A. Miller Linda DeLeon
Jim Gilbreath Floyd Price
Phyllis Jones
Tax Levy Page 1 of 3
Todd Klein
John Leonard
Council members present but not voting: 0
Council members absent: 0 ----
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Passed by the City Council on second reading this 13th day of September , 2007.
VOTING FOR PASSAGE: VOTING AGAINST PASSAGE:
David A. Miller Linda DeLeon
Jim Cilbreach Phyllis Jones
Todd Klein Floyd Price
John Leonard
Council members present but not voting: 0
Council members absent: 0 ----
ATTEST:
Tax Levy
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DAVID A~AYOR
Page 2 of3
APPROVED AS TO CONTENT:
APPROVED AS TO FORM:
Don Vandiver
Attorney of Counsel
ml/ccdocs/Tax. Rate Ordinance 07--08
August 23, 2007
Tax Levy Page 3 of3