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DRAFT F:ATTORNEY\BUDGETI2006-2007\Tax Rate Adoption Ordinance 2006-2007 September 18, 2006 ORDINANCE NO. AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, FIXING THE TAX RATE AND THE TAX LEVY AND LEVYING AD VALOREM TAXES FOR THE CITY OF PARIS FOR THE YEAR 2006 UPON ALL TAXABLE PROPERTY WITHIN THE CITY OF PARIS IN CONFORMITY WITH THE CHARTER PROVISIONS AND ORDINANCES OF THE CITY; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; REPEALING ALL ORDINANCES ORP ARTS OF ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Lamar County Appraisal District, as authorized by the laws of the State of Texas, has fixed the value of all property situated within Paris, Texas, subject to ad valorem taxes for the year 2006, such total valuation being the sum of$1,352,292,368 and, WHEREAS, in accordance with provisions of ordinances passed by the City Council of the City of Paris, property owners over the age of sixty- five (65) and disabled Veterans have filed exemptions; other adjustments for tax abatements have been approved; and other exemptions are authorized under state law; thereby reducing the total valuation subject to ad valorem taxes; and, WHEREAS, in accordance with the provisions of the Charter of the City of Paris, Paris, Texas, the City Manager has heretofore submitted to the City Council a proposed budget of the revenues of the City and the expenditures for the conduct of the affairs thereof, providing a complete financial plan for the fiscal year beginning October 1,2006 and ending September 30, 2007; and, WHEREAS, the City Council has heretofore by ordinance adopted the budget appropriating from ad valorem taxes the following sums, to-wit: General Fund $6,214,245.00 Debt Service Fund $1,343,005.00; and, WHEREAS, the City Council has by previous separate vote approved a rate of 0.49294 per $100.00 for maintenance and operations expenditures and a rate of 0.09931 per $100.00 for debt service; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: