HomeMy WebLinkAboutOrdinance - 7518-1977 - Setting Tax Rate And Levvying Tax Upon All Property Subject To Taxation - 08/11/1977KJ:hw
ORDINANCE NO. 7518
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 1977; 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 TllVIE 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
1977, the sum of $1.41 per One Hundred Dollars ($100. 00) valuation thereof,
and the same shall be applied to the various funds in the following manner:
$ • 50 per $100 valuation to the Interest and Sinking Fund
$ • 86 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, 1978, 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 Lubboc k.
AND IT IS SO ORDERED.
Passed by the Council on first reading this Ilthday of~......:.;A:.;u.c.gus=.;:t~-----'' 197 •
Passed by the Council on second r ~~ ;t-~y of August , 197 •
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