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<br />DRAFT <br /> <br />F:ATIORNEY\ORDWORK\CURRENT Tax Rate Adoption Ordinance 05-06 <br />August 4, 2005 <br /> <br />ORDINANCE NO. <br /> <br />AN ORDINANCE OF THE CITY OF PARIS, PARIS, TEXAS, FIXING THE <br />T AX RATE AND THE TAX LEVY AND LEVYING AD VALOREM TAXES <br />FOR THE CITY OF PARIS FOR THE YEAR 2005 UPON ALL TAXABLE <br />PROPERTY WITHIN THE CITY OF PARIS IN CONFORMITY WITH THE <br />CHARTER PROVISIONS AND ORDINANCES OF THE CITY; MAKING <br />OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; <br />REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN <br />CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE. <br /> <br />WHEREAS, the Lamar~ounty Appraisal District, as authorized by the laws ofthe State <br />of Texas, has fixed the value of all property situated within Paris, Texas, subject to ad valorem <br />taxes for the year 2005, such total valuation being the sum of$I,109,614,933; and, <br /> <br />WHEREAS, in accordance with provisions of ordinances passed by the City Council of <br />the City of Paris, property owners over the age of sixty-five (65) and disabled Veterans have <br />filed exemptions; other adjustments for tax abatements have been approved; and other <br />exemptions are authorized under state law; thereby reducing the total valuation subject to ad <br />valorem taxes; and, <br /> <br />WHEREAS, in accordance with the provisions of the Charter of the City of Paris, Paris, <br />Texas, the City Manager has heretofore submitted to the City Council a proposed budget of the <br />revenues of the City and the expenditures for the conduct of the affairs thereof, providing a <br />complete [mancial plan for the fiscal year beginning October 1, 2005 and ending September 30, <br />2006 and, <br /> <br />WHEREAS, the City Council has heretofore by ordinance adopted the budget <br />appropriating from ad valorem taxes the following sums, to-wit: <br /> <br />General Fund <br /> <br />$5,903,225.00 <br /> <br />Debt Service Fund <br /> <br />$1,339,796.00 <br /> <br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY <br />OF PARIS, PARIS, TEXAS: <br /> <br />Section 1. That the fmdings set out in the preamble to this ordinance are hereby in all <br />things approved. <br /> <br />Section 2. That there shall be and is hereby levied for the year 2005 and ordered to be <br />collected, a tax of$0.69225 on each and every ONE HUNDRED DOLLARS ($100.00) of the <br />