1995-177 A: ¥~DVALORE
AN ORDINANCE LEVYING THE AD VALOREM TAX OF THE CITY OF DENTON,
TEXAS, FOR THE YEAR 1995, ON ALL TAXABLE PROPERTY WITHIN THE COR-
PORATE LIMITS OF THE CITY ON JANUARY 1, 1995, 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 HEREBY ORDAINS:
SECTION I. That by authority of the charter of the City of
Denton, Texas, and the Laws of the State of Texas, there is hereby
levied for the year 1995, on all taxable property situated within
the corporate limits of the City of Denton on the first day of
January 1, 1995, and not exempt by the Constitution and Laws of the
State of Texas or by Sections IV, V, and VI of this ordinance, a
tax of $0.5409 on each $100 assessed value of all taxable property.
SECTION II. That of the total tax, $0.3136 of each $100 of
assessed value shall be distributed to the General Fund of the City
to fund maintenance and operation expenditures of the City.
SECTION III. That of the total tax, $0.2273 of each $100 of
assessed value shall be distributed to pay the City's debt service
as provided by Section 26.04 (e) (3) of the Texas Property Tax
Code.
SECTION IV. That pursuant to Article VIII, Section 1-b of the
Texas Constitution, $5,000 of the assessed value of resident home-
steads shall be exempt from City ad valorem taxes.
SECTION V. That pursuant to Article VIII, Section 1-b of the
Texas Constitution, $23,000 of the assessed valueof resident home-
steads of persons sixty-five (65) years of age or older shall be
exempt from City ad valorem taxes.
SECTION VI. That pursuant to Article VIII, Section 1-b of the
Texas Constitution, $10,000 of the assessed value of residential
homesteads of disabled persons shall be exempt from City ad valorem
taxes.
SECTION VII. 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 VIII. That if any section, subsection, paragraph, sen-
tence, clause, phrase or word in this ordinance, or application
thereof to any person or circumstance 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 IX. That this ordinance shall become effective immed-
iately upon its passage and approval.
PASSED AND APPROVED this the /~q~'~day of~~~, 1995.
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY~ ~ ~ ~. ~~~t
APPROVED AS TO LEGAL FORM:
HERBERT L. PROUTY, CITY ATTORNEY
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