Ordinance 1986-86
2A. 7 ,
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62625
ORDINANCE NO. ~12_~~~---------
AN ORDINANCE FIXING THE TAX RATE AND L.EVY IN AND FOR THE
CITY OF WYLIE~ TEXAS, FOR THE YEAR 1986. UPON ALL TAXABLE
PROPERTY IN SAID CITY OF WYLIE~ TEXAS, FOR THE PURPOSE OF
PAYING THE CURRENT EXPENSES OF SAID CITY OF THE FISCAL YEAR
ENDING SEPTEMBER 30, 1987, AND THE PURPOSE OF CREATING A
SINKING FUND TO RETIRE THE PRINCIPAL AND INTEREST OF THE
BUNDED INDEBTEDNESS OF SAID CITY: PROVIDING THAT IN THE
EVENT ANY PROVISIONS OF THIS ORDINANCE BE HELD
UNCONSTITUTIONAL AND THAT SUCH HOLDING SHALL NOT AFFECT THE
REMAINING PROVISIONS HEREOF: REPEALING ALL ORDINANCES AND
PARTS THEREOF IN CONFLICT HEREWITH AND PROVIDING FOR
FUBL I ct'-n I ON.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WYLIE~
TEXPIE; ::
SECTION 1. There is hereby levied for the fiscal year 1986
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. 1986, except
so much thereof as may be exempt by the Constitution of laws
of the State of Texas, a total tax of Forty-nine Cents
($0.49), 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 Thirty-
nine Cents ($0.39) on each One Hundred Dollars ($100.00) of
assessed valuation of said taxable property is hereby levied
for the year 1986~ for the general city purposes and to pay
the current operating expenses of said City of Wylie, Texas
for the fiscal year ending September 30, 1987~ which tax,
when collected shall be appropriated to and for the credit
of the General Fund of said City of Wylie~ Texas
SECTION 3. An advalorem tax of and at the rate of Ten Cents
($0.10) on each One Hundred ($100.00) Dollars of assessed
valuation of said taxable property is hereby levied for the
year of 1986, 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 such tax when collected
shall be appropriated and deposited in and to the credit of
the Interest and Sinking Fund of the said City of Wylie,
Te;.:as.
SECTION 4. In the event any provision of this Ordinance
shall be held unconstitutional and invalid by a court of
competent jurisdiction~ the same shall not affect the
remaining provisions thereof.
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SECTION 5. All Ordinances and part thereof in conflict with
any provisions of this Ordinance are hereby expressively
,-epE::.al ed.
SECTION 6. This Ordinance shall be in full force and
effective October 1, 1986, and notice of such enactment
shall be published on one occasion in some newspaper of
general circulation in the City of Wylie~ Texas~ within 10
days of the passage.
PASSED AND
COUNCIL OF
SEF'TEI"1BER,
CITY
DPI Y OF
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