88-T-17 Leving & Assessing Tax
ORDINANCE NO. 'ttf--r:-/7
AN ORDINANCE
LEVYING AND ASSESSING ALL TAXABLE PROPERTY
WITHIN THE CORPORATE LIMITS OF THE CITY OF
SCHERTZ, TEXAS, FOR THE YEAR 1988; PROVIDING
THE BASIS OF ASSESSMENT OF HHl% APPRAISED
VALUE AND PROVIDING' FOR THE COLLECTION
THEREOF AT THE RATE OF $ 0 .2576 ON THE ONE
HUNDRED DOLLAR ($100. (0) ASSESSED VALUATION
AND DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS:
SECTION 1. THAT there is hereby levied and assessed
against all taxable property, both real and personal, within the
corporate limits of the City of Schertz, Texas, and there shall
be collected by such City a tax of $0.2576 on the one-hundred
($100.00) assessed valuation for the year 1988.
SECTION 2. THAT such tax is hereby levied and assessed
in accordance with the applicable Statutes of the State of Texas,
such levy and assessment is made for the following purposes, to
wit:
(A) For current expense and operation
of the General Fund and its various
departments
$0.2153
(B) For requirements of the Tax Bond
Interest and Sinking Fund to meet
the outstanding tax supported
indebtedness of the City for fiscal
year 1988-1989
TOTAL TAX RATE
$0.0423
$0.2576
The City Treasurer has certified to the availability of
funds to pay principal and interest on the following indebtedness
during the Fiscal Year 1988-1989.
. '
DATE OF ISSUE
1962 City of Schertz, Sewer System Bonds
Principal $ 9,000.00
Interest $ 2,663.64
Total $11,663.64
1972 City of Schertz, Street Improvement Bonds
Principal $10,000.00
Interest $ 2,387.00
Total $12,387.00
1975 City of Schertz, Park Improvement,
Street & Drainage Bonds
Principal $ 5,000.00
Interest $12,750.00
Total $17,750.00
1981 City of Schertz, Combination Tax and
Jr. Lien Certificate of Obligation
Principal $ 5,000.00
Interest $11,575.00
Total $16,575.00
1987 City of Schertz, General
Obligation Bonds
Principal $15,000.00
Interest $31,905.00
Total $46,905.00
SECTION 3. THAT the Tax Assessor and Collector for the
City of Schertz, Texas, is hereby directed to assess and collect
taxes of the City of Schertz, Texas, on the basis of one hundred
percent (100%) of appraised values for the year 1988, such basis
of assessment being required to meet the proposed expenditures of
the General Fund for the Fiscal Year 1988-1989 and collection of
taxes thereof at the rate of $0.2576 assessed valuation as herein
provided.
SECTION 4. THAT the public importance of this measure
constitutes and creates an urgent public necessity requiring that
this ordinance be passed and take effect as an emergency measure,
and shall take effect and be in force immediately upon and after
its passage.
PASSED, APPROVED AND ADOPTED this the
1988.
ATTEST:
~~0:J -
City Secretary, City of s&hertz~
(SEAL OF CITY)