O-1987-1565 - Laserfiche WebLink

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. . ORDINANCE NO. 1565 AN ORDINANCE LEVYING TAXES UPON TAXABLE PROPERTY LOCATED WITHIN AND SUBJECT TO TAXATION IN THE CITY OF LA PORTE, TEXAS; MAKING APPROPRIATIONS FOR SUPPORT, MAINTENANCE, AND IMPROVEMENT OF THE CITY GOVERNMENT OF SAID CITY OF LA PORTE; FINDING THAT ALL REQUIRED NOTICES HAVE BEEN PUBLISHED AND ALL REQUIRED HEARINGS HELD; CONTAINING A REPEALING CLAUSE; CONTAINING A SEVERABILITY CLAUSE; FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW; AND PROVIDING AN EFFECTIVE DATE HEREOF. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE: Section 1. That there is hereby levied for the current fiscal year beginning October 1, 1987, and ending September 30, 1988, 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, 1987, 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 four four point seven cents ($.447) on the one hundred dollars ($100.00) cash value thereof, estimated in lawful currency of the United States for the current expenses for the support, maintenance, and improvement of the City Government of said City of La Porte; and (2) An Ad Valorem Tax of and at the rate of two one point three cents ($.213) on the one hundred dollars ($100.00) cash value thereof, estimated in lawful currency of the United States, to pay current interest on and provide one year's sinking fund and to pay all of the principal and interest accruing on all outstanding general obligation bonds and certificates of obligation lawfully issued by the City of La Porte. That this provides the sum of total Ad Valorem tax at the rate of sixty-six cents ($.66) 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. Section 3. That the sums hereinafter accruing and collected from the hereinabove taxes so levied be and the same are hereby appropriated for the support, maintenance, and improvement of the City Government of the City of La Porte. Section 4. The City Council officially finds, determines, recites and declares that all notices required by law have been published, and that a public hearing as required by law was duly called and held, and that all matters prerequisite to the establishment and levy of an ad valorem tax have been accomplished, all as required by the laws of the State of Texas, and the Home Rule Charter of the City of La Porte.