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<br />DRAFT <br /> <br />F:A TTORNEY\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 />TAX RATE AND THE TAX LEVY AND LEYflNG 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 County Appraisal District, as authorized by the laws of the 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 fmancial 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; and, <br /> <br />WHEREAS, the City Council has by previous separate vote approved a rate of 0.5665 <br />per $100.00 for maintenance and operations expenditures and a rate of 0 .125 75 per $100.00 for <br />debt service; <br /> <br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY <br />OF PARIS, PARIS, TEXAS: <br /> <br />T <br />