Ordinance 1974-07
ORDINANCE NUMBER 74-7
AN ORDINANCE FIXING THE TAX RATE AND LEVY IN AND FOR THE
CITY OF WYLIE, TEXAS, FOR THE YEAR 1974, UPON ALL TAXABLE
PROPERTY IN SAID CITY OF WYLIE, TEXAS~ FOR THE PURPOSE OF
PAYING THE CURRENT EXPENSES OF SAID CITY FOR THE FISCAL
YEAR ENDING SEPTEMBER 30, 1975; AND THE FURTHER PURPOSE
OF CREATING A SINKING FUND TO RETIRE THE PRINCIPAL AND
INTEREST OF THE BONDED INDEBTEDNESS OF SAID CITY~ PRO-
VIDING THAT IN THE EVENT ANY PROVISIONS OF THIS ORDINANCE
BE HELD UNCONSTITUTIONAL AND INVALID 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 year 1974, upon all
the real property situated within the corporate limits of said City of
Wylie, Texas, and on all personal property which was owned within the
corporate limits of said City of Wylie, Texas, on the 1st day of January
A. D., 1974~ except so much thereof as may be exempt by the Constitution
and laws of the State of Texas, a total tax of One and 10/100 ($1.10)
Dollars on each One Hundred ($100.00) Dollars of assessed valuation on
all of said property which said total tax here now levied as aforesaid
is respectively as follows:
SECTION 2: An ad valorem tax of and at the rate of Eighty-Five
Cents ($ .85) on each One Hundred Dollars of assessed valuation of said
taxable property is hereby levied for the year 1974, for the general
city purposed and to pay the current operating expenses of said City of
Wylie, Texas, for the fiscal year ending September 30, 1975, which tax,
when collected, shall be appropriated to and deposited in 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 Twenty-
Five ($ .25) Cents on each One Hundred ($100.00) Dollars of assessed
valuation of said taxable property is hereby levied for the year of
1974, for the purpose of creating an Interest and Sinking Fund with
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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, 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 parts thereof in conflict with
any of the provisions of this Ordinance are hereby expressively repealed.
SECTION 6: This Ordinance shall be in full force and effect
October 1, 1974, 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 APPROVED, and ordered published by the City Council
of the City of Wylie, Texas, this lOth day of September, 1974.
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,~~if~ ~~ .~
. aId Thomas, Mayor
ATTEST:
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Oneida Gallagher, City Seer ary
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