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. . ORDINANCE NO. 94-1996 AN ORDINANCE LEVYING TAXES UPON TAXABLE PROPERTY LOCATED WITHIN AND SUBJECT TO TAXATION IN THE CITY OF IA PORTE, TEXAS; MAKING APPROPRIATIONS FOR SUPPORT, MAINTENANCE, AND IMPROVEMENT OF THE CITY GOVERNMENT OF SAID CITY OF IA PORTE; FINDING THAT ALL REQUIRED NOTICES HAVE BEEN PUBLISHED AND ALL REQUIRED HEARINGS HELD; CONTAINING A REPEALING CIAUSE; CONTAINING A SEVERABILITY CIAUSE; FINDING COMPLIANCE WITH THE OPEN MEETINGS IAW; AND PROVIDING AN EFFECTIVE DATE HEREOF. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF IA PORTE Section 1. That there is hereby levied for the fiscal year beginning October I, 1994, and ending September 3D, 1995, on all real property situated and all personal property owned within the taxable limits of the said City of La Porte, on the first day of January, 1994, except so much as may be exempt under the constitution and laws of the United States, this State, and the City of La Porte, the following taxes: (1) An Ad Valorem Tax of and at the rate of fifty-five cents ($.55) on the one hundred dollars ($100.00) cash value thereof, estimated in lawful currency of the United States for the current expenses for the support, maintenance, and improvement of the City Government of said City of La Porte; and (2) An Ad Valorem Tax of and at the rate of sixteen cents ($.16) on the one hundred dollars ($100.00) cash value thereof, estimated in lawful currency of the United States, to pay current interest on and provide one year's sinking fund and to pay all of the Principal and Interest accruing on all outstanding general obligation bonds and certificates of obligation lawfully issued by the City of La Porte. That this provides the sum of total Ad Valorem tax at the rate of seventy-one cents ($.71) on the one hundred dollars ($100.00) cash value thereof, estimated in lawful currency of the United States. Section 2. All property upon which a rate of taxation is hereinabove levied shall be assessed on a ratio of one hundred percent (100%) of the estimated market value thereof.