HomeMy WebLinkAboutOrdinance - 2008-O0078 - Setting Tax Rate For Year 2008 Upon All Property Subject To Taxation - 08/28/2008First Reading
August 28, 2008
Item. No. 6.4
ORDINANCE NO. 2008-o0078
Second Reading
Septe.ber 11, 2008
Item. No. 6.4
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 2008; APPORTIONING SAID LEVY AMONG THE
VARIOUS FUNDS AND ITEMS FOR WHICH REVENUE MUST BE RAISED;
I FIXING THE TIMES IN WHICH SAID TAXES SHALL BE PAID AND ASSESSING
PENALTY AND INTEREST FOR NONPAYMENT OF SUCH TAXES WITHIN THE
TIME PROVIDED.
I WHEREAS, after all notices have been given and hearings held as provided by
I
law, the City Council 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:
I SECTION 1. THAT there shall be levied and assessed upon all property subject
to taxation within the City of Lubbock, Texas, for the year 2008 the sum of$0.44640 per
[ One Hundred and NollOOs Dollars ($100.00) valuation thereof and the same shall be
applied to the various funds in the following manner:
$0.09100 per $1 00 valuation to the Interest and Sinking Fund.
$0.32540 per $1 00 valuation to the General Fund; and
$0.03000 per $1 00 valuation to the Economic Development Fund.
SECTION 2. THAT all ad valorem taxes shall be paid before the first day of
February 2009, 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 28th day of August '2008.
VOTING FOR PASSAGE: VOTING AGAINST PASSAGE:
TOIIl Hartin, Mayor Linda DeLeon
Jim Gilbreath, Mayor Pro Tea Floyd Price
Paul Beane
Todd Klein
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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 11th day of SepteJBber , 2008.
VOTING FOR PASSAGE: VOTING AGAINST PASSAGE:
Tom Hartin, Mayor Linda DeLeon
Jim Gilbreath, Mayor Pro Tem. Floyd Price
Paul Beane
Todd Klein
John Leonard
Council members present but not voting: --=0'-----------------
Council members absent: 0 ----
****
TdM MARTIN, MAYOR
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ATTEST:
APPROVED AS TO CONTENT:
Andy Burcham
Chief Financial Officer
APPROVED AS TO FORM:
Tax Rate Ordinance 08·09
07/14/0S
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