HomeMy WebLinkAboutOrdinance 8921~~ -_ _~"
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1 Cent Reduction Option
ORDINANCE NO. ~~~/
AN ORDINANCE PROVIDING FOR THE :LEVY AND COL-
LECTION OF AN ANNUAL DIRI:C`I' All VALOREM TAX ON
ALL PROPERTY, REAL, PERSONAL AND MIXED, SITU-
ATED WITHIN THE TERRITUI2IAL LIMI7.'S OF THE
CITY OF FORT WORTH, TEXAS, AND ALL PERSONAL
PROPERTY OWNED IN SAID CITY OF FORT WORTH,
TEXAS, ON THE FIRST DA'Y OF JANUARY, A . D .
1983, EXCEPT SUCH PROPERTY AS MRY BE EXEMPT
FROM TAXA`PION BY THE CONSTITUTION AND LAWS OF
THE STATE OF TEXAS.
BE IT ORDAINED BY THE CT'I'Y COUNCIL OF THE CITY OF FORT
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WORTH, TEXAS:
SECTION I.
There is hereby levied and shall be collected, as provided
by law, an annual direct special ad valorem tax for the year
1983, for the General Fund operations and for servicing of
General Obligation Bonds outstanding of the said City of Fort
Worth of $0.92500 on every One Hundred Dollar ($1.00.00) valuation
on all property, real, personal and mixed, situated in and all
personal property owned in the City of Fart Worth, Texas, on the
first day of January, A.D. 1983, liable under the law to taxation
and not exempt therefrom by the Constitution and laws of the
State of Texas. The ad valorem tax rate of $0.92500 is divided by
an operating levy of $0.5475 and a General Obligation debt levy
of $0.3775. The Controller of Accounts shall pay each week to the
Interest and Redemption Fund forty-one percent (41$) of the
current taxes collected for General Fund operations and debt
service until $26,544,827 has been paid to the Interest and
Redemption Fund, after which all of said collections wi].1 remain
in the General Fund. In this way the General Fund wi1.1 absorb any
Interest and Redemption Fund delinquencies and in consideration
of which will receive alt delinquent tax collections during the
entire year.
SECTION II.
The tax levy which is hereinbefore made shall provide for
the payment of interest and create a redemption fund or discharge
and pay principal and interest on any obligations due or owing by
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the City of Fort Worth, Texas, and shall not be taken as an addi-
Lion to levies for the same purpose in the respective ordinance
authorizing and creating such obligations, but the levy herein-
before made is made pursuant to and for the purpose of cax•rying
out and complying with the provisions of said prior ordiiza.nces,
and ad valorem taxes herein are levied upon all taxable property,
real, personal and mixed, situated in and all personal property
owned in the City of Fort Worth, Texas, as assessed, valued and
described in the assessment tax rolls and the tax books of the
City of Fort Worth, Texas, for the year 1983, and any supple-
mental assessments thereof, as the same have been or shall be
presented to the City Council of the City of Fort Worth, Texas,
by the Assessor and Collector of Taxes of said City of Fort
Worth, `T'exas.
SECTION III.
The taxes herein levied and authorized and required to be
collected are due on receipt of a tax bill and are delinquent if
not paid before February 1, 1984. Failure to send or receive the
tax bill shall not, however, affect the validity of the taxes,
penalty or interest herein imposed, the due date, the exi,~+tence
of a tax lien, or any procedure instituted to collect such taxes,
penalty or interest. '
SECTION IV.
If a person pays one-half of the taxes required to be paid
by virtue of this ordinance before December 1, 1983, he may pay
the remaining one-half of such taxes without penalty or interest
at any time before July 1, 1984.
SECTION V.
(a) A delinquent tax incurs a penalty of six (6) percent of
the amount of the tax for the first calendar month it is delin-
quent plus one (1) percent for each additional month or portion
of a month the tax remains unpaid prior to July 1, 1984. Hawever,
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a tax delinquent on July 1, 1984, incurs a total penalty of
twelve (l2) percent of the amount of the delinquent tax without
regard to the number of rnontt-s the tax has been delinquent.
(b) If a person who exercises the split payment option
provided by Section IV above fails to make the second payment
before July 1, 1984, the second payment is delinquent and incurs
a penalty of twelve (12) percent of the amount of the unpaid tax.
SECTION VI.
In addition to the penalty set out above, a delinquent tax
accrues interest at a rate of one (1) percent for each .month or
portion of a month the tax remains unpaid.
SECTION VII.
Said interest of one percent (1$) per month shall be added
to said taxes in the event the payment thereof shall become de-
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linquent as above set forth, and said interest shall attach on
the first day of each month thereafter until the taxes shall have
been paid, which interest and the penalty provided for above
shall be and become a part of said taxes and be payable as sucht
and provided further that in the event of the publication of the
delinquent tax lists, or if suit is brought to recover such
taxes, penalty and interest and the delinquent taxpayer shall be
subject to the payment of said taxes, penalty, interest and
costs, and the same shall be and become a lien upon the property
of such taxpayer, as prescribed by the Charter of the City of
Fort Worth, Texas, and the laws of the State of Texas, .the said
taxes with penalty, interest and costs shall be and become and
they are hereby made a paramount lien to all other lien~+ whatao-
ever on the property on which said taxes are levied.
Should any part, portion, section or part of a section of
this ordinance be declared invalid or inoperative or void for any
reason by a court of competent jurisdiction, such decision,
opinion or judgment shall in no way affect the remaining por-
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bons, parts, sections or parts of sections of this ordinance,
which provision shall be, remain and continue to be in full farce
and effect.
SECTION IX.
This ordinance shall take effect and be in full force and
effect from and after the date of its passage as provided by law.
APPROVED AS 'I'O FORM AND LEGALITY:
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City Attorney
Date: ~~ ^ 2 ~ ~
ADOP~l'ED: q"~~~ ~,j
AFFECTIVE:
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