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<br />City of Paris <br /> <br />2003-04 Budget <br /> <br />ORDINANCE NO. <br /> <br />AN ORDINANCE OF THE CITY OF PARIS, PARIS, TEXAS, FIXING THE <br />TAX RATE AND THE TAX LEVY AND LEVYING AD VALOREM TAXES <br />FOR THE CITY OF PARIS FOR THE YEAR 2003 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 County Appraisal District, as authorized by the laws of <br />the State of Texas, has fixed the value of all property situated within Paris, Texas, <br />subject to ad valorem taxes for the year 2003, such total valuation being the sum of <br />$1,075,194,668.00; and, <br /> <br />WHEREAS, in accordance with provisions of ordinances passed by the City <br />Council of the City of Paris, property owners over the age of sixty-five (65) and disabled <br />Veterans have filed exemptions; other adjustments for tax abatements have been <br />approved; and other exemptions are authorized under state law; thereby reducing the <br />total valuation subject to ad valorem taxes; and, <br /> <br />WHEREAS, in accordance with the provisions of the Charter of the City of Paris, <br />Paris, Texas, the City Manager has heretofore submitted to the City Council a proposed <br />budget of the revenues of the City and the expenditures for the conduct of the affairs <br />thereof, providing a complete financial plan for the fiscal year beginning October 1, <br />2003, and ending September 30,2004; 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 />Debt Service Fund <br /> <br />$5,817,405.00 <br />$1,354,998.00 <br /> <br />General Fund <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 findings set out in the preamble to this ordinance are hereby <br />in all things approved. <br /> <br />Section 2. That there shall be and is hereby levied for the year 2003 and <br />ordered to be collected, a tax of $0.695 on each and every ONE HUNDRED DOLLARS <br />($100.00) of the assessed valuation of all property of every description subject to ~ <br /> <br />Page 23 <br />