HomeMy WebLinkAboutOrdinance - 7329-1976 - Leving A Tax Upon All Property Subject To Taxation; - 09/09/1976ORDINANCE NO. 7329
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 1976;
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 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 Lubbo~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 property
subject to taxation within the City of Lubbock, Texas, for the year of 1976,
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:
$ .61 per $100 valuation to the Interest and Sinking Fund
$ .75 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, 1977, and taxes not paid by that time shall be increased
by such penalty and interest as provided by Chapter 30 of the Code of Ordi-
nances of the City of Lubbock.
AND IT IS SO ORDERED
Passed by the Council on first reading
Passed by the Council on second rea.l.tlll!l~~
~-AS T~ FO?' , ~ a?~~~ ~ Fred O. Senter, Jr., City~~
9th day of September, 1976.
4th day of September, 1976.