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<br /> ORDINANCE NO. 97-048
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<br /> AN ORDINANCE FIXING THE TAX RATE AND THE TAX LEVY, AND
<br /> LEVYING AD VALOREM TAXES FOR THE CITY OF PARIS, PARIS, TEXAS, FOR
<br /> THE YEAR 1997, UPON ALL TAXABLE PROPERTY WITHIN THE SAID CITY OF
<br /> PARIS, TEXAS, IN CONFORMITY WITH THE CHARTER PROVISIONS AND
<br /> ORDINANCES OF SAID CITY; AND REPEALING ALL ORDINANCES OR PARTS OF
<br /> ORDINANCES IN CONFLICT HEREWITH.
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<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 the City of Paris, Texas subject to ad
<br /> valorem taxes for the year 1997, such total valuation being the sum of $1,104,938,720.00; and,
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<br /> WHEREAS, in accordance with provisions of state law and Ordinances passed by the City
<br /> Council of the City of Paris, Paris, Texas, the following exemptions have been filed: property
<br /> owners over the age of 65, Ordinance No. 2497, $37,839,673.00; disabled Veterans, V.T.C.A.,
<br /> Property Tax Code Section 11.22, $2,249,810.00; tax abatements, Ordinance Nos. 89-036, 90-
<br /> 019, 92-033, 92-048 and 93-014, $58,497,800.00; Freeport exemptions, Vernon's Ann. Tex.
<br /> Const. Art. 8, Sec. 1 j, $77,694,826.00; exempt property, $61,912,605.00; agricultural-use
<br /> exemptions, $12,562,490; and HB 366 exemptions, $9,926.00, making a new valuation subject
<br /> to ad valorem taxes in the sum of $854,171,590.00; and,
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<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 financial plan for the fiscal year beginning October 1, 1997, and ending September 30,
<br /> 1998, which budget was amended; and,
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<br /> WHEREAS, the City Council has heretofore, by ordinance adopted the budget
<br /> appropriating from ad valorem taxes the following sums, to-wit:
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<br /> General Fund $4,099,215.00
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<br /> Debt Service Fund $389,420.00
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<br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
<br /> OF PARIS:
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<br /> Section 1. That there shall be, and is hereby, levied for the year 1997, and ordered to be
<br /> collected a tax of $.55342 on each and every ONE HUNDRED DOLLARS ($100.00) of the
<br /> assessed valuation of all property of every description subject to taxation within the corporate
<br /> limits of the City of Paris, and that said tax so levied shall be distributed and apportioned as
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<br /> follows:
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<br /> For the payment of CURRENT EXPENSES of the City
<br /> Government of the City of Paris, on each and every
<br /> One Hundred Dollars worth of property situated
<br /> within the corporate limits of the City of Paris
<br /> and subject to taxation a tax of (of which $.00226
<br /> will be for the operation of the Paris Municipal
<br /> Band) $.50543
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<br /> For paying interest and creating a sinking fund
<br /> for General Obligation Bonds, Series "1993", on
<br /> each and every One Hundred Dollars worth of
<br /> property situated within the corporate limits of
<br /> the City of Paris and subject to taxation, a tax of $.04799
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<br /> TOTAL $.55342
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