2586 ORD FIXING TAX RATE AND TAX LEVY AND LEVYING AD VALOREM TAXES FOR COP

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ORDINANCE N0. 2586 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 1981, UPON ALL TAXABLE PROPERTY WITHIN THE SAID CITY OF PARIS, TEXAS, IN CONFORMITY WITH THE CHAR- TER PROVISIONS AND ORDINANCES OF SAID CITY; AND REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH. WHEREAS, the Board of Equalization heretofore appoin- ted by the City Council of the City of Paris has met and has fixed the value of all property situated within the City of Paris, Texas subject to ad valorem taxes for the year 1981, such total valuation being the sum of $343,932,697.00; and, WHEREAS, in accordance with provisions of Ordinances passed by the City Council of the Ci_ty of Paris, Paris, Texas, property owners over the age of 65 and disabled Veterans have filed exemptions in the sum of $29,375,227.00, making a new valuation subject to ad valorem taxes in the sum of $314,557,470.00; and, WHEREAS, in accordance with the provisions of the Charter of the City of Paris, Faris, 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 con- duct of the affairs thereof, providing a complete financial plan for the fiscal year beginning July l, 1981, and ending June 30, 1982; and, WHEREAS, the City Council has heretofore, by ordinance adopted the budget appropriating from ad valorem taxes the following sums, to-wit: General Fund $1,494,900.00 Debt Service Fund 72,000.00 NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS; Section l. That there shall be and is hereby levied for the year 1981 and ordered to be collected a tax of $0.47 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 ap- portioned as follows: For the payment of CURRENT EXPENSES of the City Government of the City of Paris, 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 of (of which $0.00158 will be for the operation of the Paris Municipal Band) $0.445 For paying interest and creating a sinking fund for CERTIFICATES OF OBLIGATION, Series "1981", on each and every One Hundred Dollars worth of property situated within the cor- porate limits of the City of Paris and subject to taxation, a tax of 0.025 Total $0.470