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HomeMy WebLinkAboutOrdinance - 5545-1968 - Setting Tax Rate And Levying Tax Upon All Property Subject To Taxation - 09/26/1968KJ•E -~--- ORDINANCE NO. 5545 amended by ORDINANCE NO. 6530 ORDINANCE NO. 5545 oq ... zu-ui AN ORDINANCE SETTING THE TAX RATE AND LEVYING A TAX UPON ALL PROPERTY SUBJECT TO TAXATION WITHIN THE CITY OF LUBBOCK., TEXAS., OR THE YEAR 1968; APPORTIONING SAID LEVY AMONG THE VARIOUS FUN ND ITEMS FOR WHICH REVENUE MUST BE RAISED; FIXING THE TIME IN ICH SAID TAXES BE PAID; AND ASSESSING PENALTY AND INTEREST FOR NON-PAYMENT OF SUCH TAXES WITHIN THE TIME PROVIDED; AND DECLAR- ING AN EMERGENCY.· WHEREAS, the necessity of setting the tax rate and levying a tax on all pro- erty subject to taxation within the city for the Jtear 1968 is urgently necessary rior to October 1., 1968., the beginning of the fiscal year of the City of Lubbock hich effect the usual daily operation of the Municipal Departments and thereby reates an emergency., NOW THEREFORE: E IT ORDAINED BY TIIE CITY COUNCIL OF THE CITY OF LUBBOCK: SECTION 1. THAT there shall be levied and assessed upon all property sub ... ·ect_tq taxation within the City of Lubbock., Texas., for the year 1968, the sum of 1.08 per One Hundred {$100. 00) Dollars valuation thereof, and the same shall. be pplied to the various funds in the following manner: $ .52 .51 .OS per $100 valuation to the Interest and Sinking Fund per $100 valuation to the General Fund per $100 valuation to the Board of City Development Fund SECTION 2. THAT from and after the sum of $ 2,945,716.00 has been ollected and applied to the Interest and Sinking Fund of the City of Lubbock, the ax Assessor and C9ll.ector shall and is hereby authorized and directed to apply the esidue of taxes collected which may be due and payable for the current tax year of 968 to the General Fund of the City of Lubbock. SECTION 3. THAT all ad valorem taxes shall be paid before the first day of eoruary, 1969, and taxes not paid by that time shall be increased by such penalty nd interest as provided by Chapter 30 of the Code of Ordinances of the City of ubbock. SECTION 4. The fact that public necessity and convenience requires that this rdinance be passed as an emergency measure for reasons set forth in the pream-- le hereof., the rule requiring that no Ordinance shall be finally passed on the day fits introduction be suspended, and this Ordinance is declared to be an emergency easure to take effect from and after its passage. AND IT IS SO ORDERED. Passed by the Council on this 26th ATTEST: F-"=') I • APPROVED: I .. 2 ..