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<br /> ORDINANCE N0. $6-034
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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,
<br /> TEXAS, FOR THE YEAR 1986, UPON ALL TAXABLE PROPERTY 4TITHIN
<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 of all property situated within the Citq of Paris,
<br /> Texas subject to ad valorem taxes for the year 1986, such
<br /> total valuation being the sum of $594,608,507.; and,
<br /> WHEREAS, in accordance with provisions of Ordinances
<br /> passed by the City Council of the City of Paris, Paris,
<br /> Texas, property owners over the age of 65 and disabled
<br /> Veterans have filed exemptions in the sum of $36,830,625.
<br /> making a new valuation subject to ad valorem taxes in the
<br /> sum of $557,777,882.; 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 of the City and the expenditures for
<br /> the conduct of the aff.airs thereof, providing a complete
<br /> financial plan for the fiscal year beginning October l,
<br /> 1986, and ending September 30, 1987; and,
<br /> WHEREAS, a public hearing was held on the City Managers
<br /> budget on the 12th day of August, 1986 and; thereafter, on
<br /> the 25th day of September, 1986 a public hearing was held on
<br /> the budget as amended by the City Council. Thereafter, the
<br /> City Council did adopted its budget by ordinance on said
<br /> September 25, 1986 appropriating from ad valorem taxes the
<br /> following sums, to-wit:
<br /> General Fund $1,758,300.
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<br /> Debt Service Fund $ 173,350.
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<br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
<br /> THE CITY OF PARIS:
<br /> Section l. That there shall be and is hereby levied
<br /> for the year 1986 and ordered to be collected a tax of
<br /> $0.360 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 apportioned as foilows:
<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 $0.32$
<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 $0.032
<br /> Total $0.360
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