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<br />ORDINANCE N0, gg-040
<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 1988, 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 of all property situated within the City of Paris,
<br />Texas subject to ad valorem taxes for the year 1988, such
<br />total valuation being the sum of $626,809,463.00; 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 $38,221,840.00
<br />making a new valuation subject to ad valorem taxes in the
<br />sum of $588,587,623.00.; and,
<br />WHEREAS, in accordance with ttie 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 affairs thereof, providing a complete
<br />financial plan for the fiscal year beginning October l,
<br />1988, and ending September 30, 1989; and,
<br />WHEREAS, a public hearing was held on the City
<br />Manager's budget on the 12th day of September, 1988.
<br />Thereafter the City Council did adopt its budget by
<br />ordinance on September 16, 1988, appropriating from ad
<br />valorem taxes the following sums, to-wit:
<br />General Fund $1,982,630.00
<br />Debt Service Fund $ 305,000,00
<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 198$ and ordered to be collected a tax of
<br />$0.4167 on each and every ONE HUNDRED DOLLARS ($100.00) of
<br />the assessed valuation of aZl propertti= 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 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 c�rporate limits of the City
<br />of Paris and subject to taxation a tax
<br />of
<br />For paying interest and creating a
<br />sinking fund for General Obligation
<br />Bonds, Series 1985, or� 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
<br />$0.3622_
<br />$0.0285
<br />
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