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<br /> <br /> <br /> <br /> <br /> <br /> ORDINANCE N0. $7-053 <br /> <br /> <br /> AN ORDINANCE FIXING THE TAX RATE AND THE TAX LEVY, AND <br /> LEVYIPdG AD VALOREr1 TAXES FOR THE CITY OF PARIS, PARIS, <br /> TEXAS, FOR THE YEAR 1987, UPON ALL TAXABLE PROPERTY WITHiN <br /> THE SAID CITY OF PARIS, TEXAS, IN CONFORMITY WITH THE <br /> CHARTER PROVISIONS AND ORDINANCES OF SAID CITY; AND REPEAL- <br /> ING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT <br /> HEREWITH. <br /> WHEREAS, the Lamar County Appraisal District as au- <br /> thorized by the Laws of the State of Texas has fixed the <br /> value af all property situated within the City of Paris, <br /> Texas subject to ad valorem taxes for the year 1987, such <br /> total valuation being the sum of $618,515,828.; and, <br /> WHEREAS, in accordance with provisions of Ordinances <br /> passed b_y the City Council of the City of Paris, Paris, <br /> Texas, property owners over the age of 65 and disabled <br /> Veterans have filed eyemptions in the sum of $37,362,845. <br /> making a new valuation subject to ad valorem taxes in the <br /> sum af $581,152,983.; and, <br /> WHEREAS, in accordance with the provisions of the <br /> Charter of the City of Paris, Paris, Texas, the City Manager <br /> has heretofore submitted to the City Council a proposed <br /> budget of the revenues ot the City and the expenditures for <br /> thP conduct of the affairs thereof, providing a complete <br /> financial plan for the fiscal year beginning October 1, <br /> 1987, and ending September 30, 1988; and, <br /> WHEREAS, a public hearing was held on the City Managers <br /> budget on the 15th day of September, 1987. Thereafter, the <br /> City Council did adopt its budget by ordinance on said <br /> September 15, 1987 appropriating from ad valorem taxes the <br /> following sums, to-wit: <br /> General Fund $1,800,000. <br /> Debt Service Fund $ 306,630. <br /> <br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF <br /> THE CITY OF PARIS: <br /> <br /> Section 1. That there shall be and is hereby levied <br /> for the year 1987 and ordered to be collected a tax of <br /> $0.3898 on each and every ONE HUNDRED DOLLARS ($100.00) of <br /> the assessed valuation of all property of every description <br /> subject to taxation within the corporate limits of the City <br /> of Paris, and that said tax so levied shall be distributed <br /> and apportioried as follows: <br /> For the payment of CURRENT EXPENSES <br /> of the City Government of the City of <br /> Paris, on each and every One Hundred <br /> Dollars worth of property situated <br /> within the corporate limits of the City <br /> of Paris and subject to taxation a tax <br /> of $0.3346 <br /> For paying interest and creating a <br /> sinking fund for General Obligation <br /> Bonds, Series 1985, on each and every <br /> One Hundred Dollars worth of property <br /> situated within the corporate limits <br /> of the City of Paris and subject to <br /> taxation, a tax of $0.0552 <br /> Total $0.3898 <br />