1979-073 ORDINANCE NO ~° ~J
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 O0
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 wlthln the corporate limits of the C~ty 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 O0 assessed value of
all taxable property which shall be apportioned and distributed
as follows
(a) For the General Fund of the C}ty of Denton,
$ 7286 on each $100 O0 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 C~ty of Denton bonds, not
otherwise provided for, $ 5114 on each
$100 O0 of assessed value
The above allocation of the levy ~s made to ~nsure that
deposits ~n the Interest and Redemption Funds of taxes collected
during the fiscal year ending September 30, 1980 w~ll total
$1,481,508, but ~s 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 s}xty-flve (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
lev~ed, the C~ty of Denton shall have available all r~ghts 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 th~s ordinance, and the
City Council of the City of Denton, Texas, hereby declares it
would have enacted such remaining portions despite any such
~nvalldlty
SECTION V
That th~s ordinance shall be effective immediately from and
after ~ts passage and approval
PASSED AND APPROVED this the 18th day of September, A D
1979
CITY OF DENTON, TEXAS
APPROVED AS TO LEGAL FORM
CITY OF DENTON, TEXAS
APPROVED AS TO LEGAL FORM
BURT R 'SOLOMON"S; ACTING CITY
ATTORNEY, CITY F DENTON, TEXAS