HomeMy WebLinkAbout1979-073ORDINANCE NO %9- ? 3
AN ORDINANCE LEVYING THE AD VALOREM TAX OF THE CITY OF DENTON,
TEXAS, FOR THE YEAR 1979, AT THE RATE OF $1 24 PER $100 00
ASSESSED VALUATION ON ALL TAXABLE PROPERTY WITHIN THE CORPORATE
LIMITS OF THE CITY ON JANUARY 1, 1979, NOT EXEMPT BY LAW,
PROVIDING REVENUES FOR PAYMENT OF CURRENT MUNICIPAL EXPENSES,
AND FOR INTEREST AND SINKING FUND ON OUTSTANDING CITY OF DENTON
BONDS, PROVIDING FOR LIMITED EXEMPTIONS OF CERTAIN HOMESTEADS,
PROVIDING FOR ENFORCEMENT OF COLLECTIONS, PROVIDING FOR A
SEVERABILITY CLAUSE, AND PROVIDING AN EFFECTIVE DATE
THE COUNCIL OF THE CITY OF DENTON, TEXAS, HEREBY ORDAINS
SECTION I
That by authority of the Charter of the City of Denton,
Texas, there is hereby levied for the year 1979, on all taxable
property, situated within the corporate limits of the City of
Denton on the first day of January, 1979, and not exempt by the
Constitution and laws of the State of Texas or by Section 2 of
this Ordinance, a tax of $1 24 on each $100 00 assessed value of
all taxable property which shall be apportioned and distributed
as follows
(a) For the General Fund of the City of Denton,
$ 7286 on each $100 00 of assessed value,
(b) For the purpose of creating a sinking fund
to pay the interest and principal on
outstanding bonded indebtedness on all
outstanding City of Denton bonds, not
otherwise provided for, $ 5114 on each
$100 00 of assessed value
The above allocation of the levy is made to insure that
deposits in the Interest and Redemption Funds of taxes collected
during the fiscal year ending September 30, 1980 will total
$1,481,508, but is not intended to exceed that amount
SECTION II
That that pursuant to Article VIII, Section 1-b of the Texas
Constitution, $8,000 of the assessed value of resident home-
steads of persons sixty-five (65) years of age or older, shall
be exempt from City ad valorem taxes
SECTION III
That for enforcement of the collection of taxes hereby
levied, the City of Denton shall have available all rights and
remedies provided by law
SECTION IV
That if any section, subsection, paragraph, sentence,
clause, phrase or word in this ordinance, or application thereof
to any person or circumstances is held invalid by any court of
competent jurisdiction, such holding shall not affect the
validity of the remaining portions of this ordinance, and the
City Council of the City of Denton, Texas, hereby declares it
would have enacted such remaining portions despite any such
invalidity
SECTION V
That this ordinance shall be effective immediately from and
after its passage and approval
PASSED AND APPROVED this the 18th day of September, A D
1979
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CITY OF DENTON, TEXAS
APPROVED AS TO LEGAL FORM
A04114 ��7 ,
K EZ<R ETA VY
CITY OF DENTON, TEXAS
APPROVED AS TO LEGAL FORM
BURT�OM N , ACTING CITY
ATTORNEY, CITY F DENTON, TEXAS
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