ORDINANCE NO. 265
ORDINANCE it 265
LEVYING TAXES FOR THE YEAR 1972
WHEREAS, the City Council of the City of Schertz, Texas, has not passed
and adopted an ordinance levying annual taxes for the year 1972, and it now
considers it necessary and desirable, at the present time, to pass such ordi-
nance levying ad valorem taxes on all taxable property in the City of Schertz,
for the year 1972, and
WHEREAS, this City Council, after due consideration, finds and determines
that to pay the operating expenses of the City which will accrue for the ensuing
year, herein referred to as the tax levy for General Fund purposes, that a tax
of and at the rate of eighty-three (0.83) cents
on each one hundred dollars ($100.00) assessed valuation of all taxable property
in the City should be levied for the year 1972; and that to pay the interest
on and to create the necessary sinking fund on the $301,000 CITY OF SCHERTZ SINK-
ING FUND SEWER SYSTEM BONDS, SERIES 1962, dated June 1, 1962, heretofore authorized
by an ordinance passed and adopted on this day, that a tax of and at the rate of
seventeen (.17) cents on each one hundred ($100.00) dollars assessed valua-
tion of all taxable property in the City should be levied for the year 19n, there-
by making a total ad valorem tax levied for the year 1972, of and at the rate of
one dollar ($1.00) on each one hundred dollars ($100.00) assessed valuation of all
taxable property in the City of Schertz, Texas;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS:
I
That, for the General Fund purposes of the City of Schertz, Texas, there shall
be, and there is hereby levied, a tax of and at the rate of eighty-three (0.83)
cents on each one hundred dollars ($100.00) assessed valuation of
all taxable property in the City of Schertz, Texas for the year 1972.
II
That, to pay the interest on and to provide the necessary sinking fund on
the issue of $301,000 CITY OF SCHERTZ SEWER SYSTEM BONDS, SERIES 1962, dated June
1, 1962, there shall be, and there is hereby levied on each one hundred dollars
($100.00) assessed valuation of all taxable property in the City of Schertz, Texas
for the year 1972 a tax of and at the rate of seventeen (0.17) cents
<
III
That the total tax hereby levied on each one hundred dollars ($100.00)
assessed valuation of all taxable property in the City of Schertz, Texas, for
the year 1972 shall be of and at the rate of one dollar ($1.00), of which a
tax of and at the rate of eighty-three (0.83) cents
, aforesaid, shall be
and is hereby levied for General Fund purposes of said City, and of which,
a tax of and at the rate of seventeen (0.17) cents
, as aforesaid, shall
be and is hereby levied for interest and sinking fund purposes, and said taxes
hereby levied shall be applied to the purposes named.
PASSED, ADOPTED AND APPROVED this
20th day of
July
, 1972.
(C}::.~ /t/ Mr-/
M or
ATTEST:
City Secretary
(CITY SEAL)