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Ordinance 1980-15 ORDINANCE # 80-15 AN ORDINANCE FIXING THE TAX RATE AND LEVY IN AND FOR THE CITY OF WYLIE, TEXAS, FOR THE YEAR 1980, UPON ALL TAXABLE PROPERTY IN SAID CITY OF WYLIE, TEXAS, FOR THE PURPOSE OF PAYING THE CURRENT EXPEN- SES OF SAID CITY OF THE FISCAL YEAR ENDING SEPTEMBER 30, 1980, AND THE FURTHER PURPOSE OF CREATING A SINKING FUND TO RETIRE THE PRIN- CIPAL AND INTEREST OF THE BONDED INDEBTEDNESS OF SAID CITY; PROVID- ING THAT IN THE EVENT ANY PROVISIONS OF THIS ORDINANCE BE HELD UN- CONSTITUTIONAL AND THAT SUCH HOLDING SHALL NOT AFFECT THE REMAINING PROVISIONS HEREOF; REPEALING ALL ORDINANCES AND PARTS THEREOF IN CONFLICT HEREWITH AND PROVIDING FOR PUBLICATION. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WYLIE, TEXAS; SECTION 1: There is hereby levied for the fiscal year 1980, upon all real property situated within the corporate limits of said City of Wylie, Texas, and upon all personal property which was owned within the corporate limits of said City of Wylie, Texas, on the 1st day of January A.D. 1980, except so much thereof as may be exempt by the Constitution and laws of the State of Texas, a total tax of one and 26/100 ($1.26) Dollars on each One Hundred ($100.00) Dollars of assessed valuation on all of said property which said total tax here now levied as aforesaid is respectively as follows: SECTION 2: An ad valorem tax of and at the rate of One Dollar and Ten Cents ($1.10) on each One Hundred Dollars of assessed valuation of said taxable property is hereby levied for the year 1980, for the genera 1 city purposes and to pay the current operati ng expenses of said City of Wylie, Texas, for the fiscal year ending September 30, 1981, which tax, when collected shall be appropriated to and to the credit of the General Fund of said City of Wylie, Texas. SECTION 3: An ad valorem tax of and at the rate of sixteen (.16) Cents on each One Hundred (100.00) Dollars of assessed valuation of said taxable property is hereby levied for the year of 1980, for the purpose of creating an Interest and Sinking fund with which to pay the interest and retire the principal of the valid bonded indebtedness of the City of Wylie, Texas, now outstanding, and s'uch tax when coll- ected shall be appropriated and deposited in and to the credit of the Interest and Sinking Fund of the said City of Wylie, Texas. SECTION 4: In the event any provision of this Ordinance shall be held unconstitutiOnal and invalid by court of competent jurisdiction the same shall not affect the remaining provisions thereof. SECTION 5: All Ordinances and part thereof in conflict with any of the provisions of this Ordinance are hereby expressively re- pealed. SECTION 6: This Ordinance shall be in full force and effective October 1, 1980, and notice of such enactment shall be published on one occa- sion in some newspaper of general circulation in the City of Wylie, Texas, within 10 days of the passage. PASSED AND APPROVED, and ordered published by the City Council of the City of Wylie, Texas this 7th day of October 1980. '-7~;/ / ":>,,'7 / j' , (~1/ / //John W. Akin, Mayor I ' 1_./ .~ -/,. /;, "" "'.. / I!filvJ:r!--_~,L~ ~//<tlLtl-"~",~, /. I' Sandra Gail Wallace, City Secretary LSV/ms