92-044 ORD FIXING TAX RATE AND TAX LEVY AND LEVYING AD VALOREM TAXES FOR COP FOR THE YEAR 1992

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ORDINANCE N0. 92-044 AN URD INANCE F I X ING THE TAX RATE AND THE TAX LEVY, AND LEVYING AD VALOREM TAXES FOR THE CITY OF PARIS, PARIS, TEXAS, FOR THE YEAR 1992, UPON ALL TAXABLE PROPERTY WITHIN THE SAID CITY OF PARtS, PARIS, TEXAS, IN CONFORMITY WITH THE CHARTER PROVISIONS AND ORDINANCES OF SAID CITY; AND REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH. WHEREAS, the Lamar CUUTlty 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 199'z', such total valuation being t:he sum of $654,161,665.00; and, WHEREAS, in accordance with provisions of Ordinances passed by the City Council of the City of Paris, Paris, Texas, property owners over the age of 65 and disabled Veterans have iiled exemptions in the sum of $39,508,978.00 making a new valuation subject to ad valorem taxes in the sum of $614,652,687.00; and, WHEREAS, in accordance with the provisions of the Charter of the City of Paris, Paris, Texas, the City N'ianager has heretofore submitted to the City Council a proposed budget of the revenues of t:he City and the expenditures for the conduct of the affairs thereof, providing a complete financial plan for the fiscal year beginning October 1, 1992, and ending September 30, 1993; and, WHEREAS, the City Council has heretofore, by ordinance adopted the budget appropriating from ad valorem taxes the following sums, to-wit: General Fund $2,893,205.00 Debt Service Fund $ 266,095.00 NOW, THEREFORE, 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 1992 and ordered to be collected a tax of $0.54105 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 sha11 be distributed anci apportioned 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 $0.00162 will be for the operation of the Paris Municipal Band) $0.49548 For paying interest and creating a sinking fund for General Obligation 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 of $0.02