90-035 ORD FIXING TAX RATE AND TAX LEVY AND LEVYING AD VALOREM TAXES FOR COP FOR 1990

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ORDINANCE N0. 90-035 AN ORDINANCE FIXING THE TAX RATE AND THE TAX LEVY, AND LEVYING AD VALOREM TAXES FOR THE CITY OF PARIS, PARIS, TEXAS, FOR THE YEAR 1990, UPON ALL TAXABLE PROPERTY WITHIN THE SAID CITY OF PARIS, PARIS, TEXAS, IN CONFORMITY WITH THE CHARTER PROVISIONS AND ORDINANCES OF SAID CITY; AND REPEALING ALL ORDINANCES OR. PARTS UF ORDINANCES IN CONFLICT HEREWITH. WHEKEAS, the Lamar County Appraisal District as authorized by the Laws of the State of Texas has fixed the value of all property situated within the City of Paris, Paris, Texas subject to ad valorem taxes for the year 1990, such total valuation being the sum of $659,521,757.00; and, WHEREAS, in accordance with provisions of Ordinances passed by Lhe City Gouncil of the City of Paris, Paris, Texas, property owners over the age of 65 and disabled Veterans have filed exemptions in the sum of $38,744,665.00 making a new valuation subject to ad valorem taxes in the sum of $620,777,092.00; 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 aftairs thereof, providing a complete financial plan for the fiscal year beginning October l, 1990, and ending September 30, 1991; and, WHEREAS, the City Council has heretofore, by ordinance adopted the budget appropriating from ad valorem taxes the following sums, to-wit: General Fund $2,562,310.00 Debt Service Fund $ 282,660.00 NOW, THEKEFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS: Section 1. That there shall be and is hereby levied for the year 1990 and ordered to be collected a tax of $0.5285 on each and every ONE HUNDRED DOLLARS ($100.00) of the assessed valuation of all property of every description subject to taxation within the corporate limits of the City of Paris, and that said tax so levied shall be distributed and apportioned as follows: For the payment of CURRENT EXPENSES of the City Goverriment of the City of Paris, on each and every Ocie Hundred Dollars worth of property situated within the corporate limits of the City of Paris and subject to taxation a tax of (of which *0.0015 will be for the operation of the Paris Municipal Band) $0.43457 For paying interest and creating a sinking fund for Generai Ubligation Bonds, Series "1985", on each and every One Hundred Dollars worth of property situated within the corporate limits of the City of Paris and subject to taxation, a tax ot $0.02293