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Home My WebLink AboutO-1985-1472 . . ORDINANCE NO. /~1~ AN ORDINANCE LEVYING TAXES UPON TAXABLE PROPERTY LOCATED WITHIN AND SUBJECT TO TAXATION IN THE CITY OF LA PORTE, TEXAS; AND MAKING APPROPRIATIONS FOR SUPPORT, MAINTENANCE, AND IMPROVEMENT OF THE CITY GOVERNMENT OF SAID CITY OF LA PORTE; 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, 1985, and ending September 30, 1986, on all real property situated and all personal property owned within the taxable limits ~f the said City of La Porte, on the first day of January, 1985, 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 six four seven cents ($.4647) on the one hundred dollars ($100.00) cash value thereof, estimated in lawful currency of the United States for the current expenses for the support,maintenance, and improvement of the City Government of said City of La Porte,Texas. (2) An Ad Valorem Tax of and at the rate of two four eight one cents ($.2481) on the one hundred dollars ($100.00) cash value thereof, estimated in lawful currency of the United States, to pay current interest on and provide one year's sinking fund and to pay all of the principal and interest accruing on all outstanding bonds lawfully issued by the City of La Porte. Section 2. All property upon which a rate of taxation is hereinabove levied shall be assessed on a ratio of one hundred percent (100$) 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. If any section, sentence, phrase, clause, or any part of any section, sentence, phrase, or clause, of this Ordinance shall, for any reason, be held invalid, such ORDINANCE NO. ~ PAGE 2 . invalidity shall not affect the remaining portions of this Ordinance, and it is hereby declared to be the intention of this City Council to have passed each section, sentence, phrase, or clause, or part thereof, irrespective of the fact that any other section, sentence, phrase, or clause, or part thereof, may be declared invalid. Section 5L All ordinances or parts of ordinances in conflict herewith are hereby repealed to the extent of such conflict only. Section 6L The City Council officially finds, determines, recites and declares that a sufficient written notice of the date, hour, place and subject of this meeting of the City Council was posted at a place convenient to the public at the City Hall of the City for the time required by law preceding this meeting, as required by the Open Meetings Law, Article 6252-17, Texas Revised Civil Statutes Annotated; and that this meeting has been open to the public as required. PASSED AND APPROVED this the /J/~day of October, 1985. CITY OF LA PORTE ATTEST: ~~ Cherie Black, City Secretary APPROVED: ~ C2:4 zJ · Knox Askins, City Attorney CITY OF LA PORTE ~ e NOTICE OF CALCULATION OF EFFECTIVE TAX RATE, ESTIMATED UNENCUMBERED FUND BALANCES, AND DEBT SCHEDULE I, Charlene Campbell, Tax Assessor/Collector for City of La Porte, in accordance with Sec. 26.04, Property Tax Code, have calculated $ .7872 per $100 of value as the tax rate which may not be exceed- ed by more than three percent by the governing body of the City of La Porte without holding a public hearing as required by the code. The estimated unencumbered fund balance for Maintenance & Oper- ation fund: $i,i64,14q. The estimated unencumbered fund balance for Interest & Sinking fund: $qiO,Oqi The following schedule lists debt obligations that 1985 property taxes will pay: General Obligation Bond and Revenue Bond Retirement Summary Fiscal Year Budget 1985-1986 ISSUE *1956 WATER DISTRICT BONDS *1962 WATER DISTRICT BONDS *1963 WATER DISTRICT BONDS 1965 GENERAL OBLIGATION BONDS @1968 GENERAL OBLIGATION BONDS *1970 WATER DISTRICT BONDS @1970 GENERAL OBLIGATION BONDS *1970 WATER DISTRICT BONDS *1971 GENERAL OBLIGATION BONDS !1973 GENERAL OBLIGATION BONDS 1979 GENERAL OBLIGATION BONDS +1979 GENERAL OBLIGATION BONDS 1980 GENERAL OBLIGATION BONDS 1980 CERTIFICATE OF OBLIGATION BONDS 1984 WATER/WASTEWATER BONDS-COLLEGE VIEW ESTIMATED 1985 GENERAL OBLIGATION BONDS ESTIMATED 1985 REVENUE BONDS NOTES PAYABLE TOTAL AMOUNT REOUIREMENT $ 29,080 29,000 13,000 50,925 63,300 11,950 60,975 3,600 12, 100 52,350 150,100 22,600 393,937 114,100 443,250 700,000 885,000 ~9Q.9. $3,184,176 *ASSUMED BY CITY OF LA PORTE IN FAIRMONT PARK ANNEXATION. !ASSUMED BY CITY OF LA PORTE IN LOMAX ANNEXATION. @ASSUMED BY CITY OF LA PORTE IN COLLEGE VIEW ANNEXATION. +ASSUMED BY CITY OF LA PORTE IN SPENWICK ANNEXATION. I. DATA 1. 2. 3. 4. 5. 6. 7 . 8. 9. CALCULATIONS USED TO DETERMINE EFFECTIVE TAX RATE 1984 Total tax levy from the 1984 tax roll...$ 1984 Tax rate ($.4921 M&O and $.2207 1&3)....$ 1984 Debt service (I&S) levy.................$ 1984 Maintenance & operation (M&O)...........$ 1984 M&O taxes on property in territory that has ceased to be a part of unit in 1985.$ 1984 M&O taxes on property becoming exempt in 1985...................................... $ 1984 M&O taxes on taxable value lost because property is appraised at less than market val ue in 1 985 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1985 Total taxable value of all property.....$ 1985 Taxable value of new improvements added since Jan. 1, 1984........................... $ 5,864,034 .7128/$100 1,815,646 4,048,388 -0- 49,178 42,838 826,090,950 34,055,373 e e 10. 1985 Taxable value of property annexed since Jan. 1, 1984.................................$ 11. 1985 Tax levy needed to satisfy debt service (I&S) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 12. Rate to raise 1984 tax due levy to appraisal roll errors (lost dollars divided by 1985 t a x able value)............................... $ 13. Rate to regain taxes lost in 1984 due to appraisal roll errors (lost dollars divided by 1985 taxable values)......................$ 14. 1984 M&O Taxes used to regain lost 1983 levy.$ II. CALCULATION MAINTENANCE AND OPERATION ("&0) TAX RATE 1. (A) 1984 Total tax levy (Data 1)............... $ (B) Subtract 1984 debt service levy (Data #)...$ (C) Subtract 1984 taxes on property no longer in uni t (Data 5).............................. $ (D) Subtract 1984 taxes for exemptions (Data 6)$ (E) Subtract 1984 taxes for productivity valuation (Data 7).........................$ (F) Subtract 1983 taxes used to regain lost 1983 taxes used to regain lost 1983 levy ( Da t a 1 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (G) Adjusted 1984 M&O levy.....................$ 2. (A) (B) (C) (D) 1985 Total Taxable value of all property (Data 8)...................................$ Subtract 1985 value of new improvements (Data 9)................................... $ Subtract 1985 value of annexed property (Data 10).................................. $ Adjusted 1985 taxable value for M&O........$ Page -2- -0- 2,049,176 0/$100 0/$100 -0- 5,864,034 1,501,452 -0- 49,178 42,838 -0- 4,270,566 826,090,950 34,055,373 -0- 792,035,577 3. (A) Divide the adjusted 1984 M&O levy (1-G above) by the adjusted 1985 taxable value for M&O (2-D above) ($4,270,566 divided by $792,035,577)..............................$ .005391 (B) Multiply by $100 valuation...............x 100 (C) Efective M&O rate for 1985.................$ .5391/$100 INTEREST AND SINKING (I&S) TAX RATE 4. (A) 1985 I&S levy needed to satisfy debt (Data 1 1 ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,049,176 (B) 1985 Total taxable value for all property (Da t a 8).................................. $ 826,090,950 (C) Divide the 1985 I&S levy (4-A above) by the 1985 total taxable value (4-B above) ($2,049,176 divided by 826,090,950).......$ .002481 (D) Multiply by $100 valuation..............x $100 (E) Effective I&S rate for 1985...............$.2481/$100 APPRAISAL ROLL ERROR RATE 5. (A) Rate to raise the 1984 levy due to appraisal errors (Data 12)...............$ -0- (B) Add rate to regain taxes lost due to errors (Data 13).........................$0/$100 (C) Total rate to adjust for appraisal roll errors.................................. .$0/$100 . e Page -3- TOTAL EFFECTIVE TAX RATE FOR 1985 6. (A) EFFECTIVE M&O RATE (3-C ABOVE).............$.5391/$100 (B) Add effective I&S....................... ..+$.2841/$100 (C) Add rate to adjust for appraisal (5-C above) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . +$0/ $100 (D)1985 Effective Tax Rate.................... .$.7872/$100 1985 Effective Tax Rate published as re- quired by Sec. 26.04, Property Tax Code