HomeMy WebLinkAboutOrdinance 13054ORDINANCE NO ~3 oS
AN ORDINANCE AMENDING ORDINANCE N012666 TO
CORRECT A MATHEMATICAL ERROR IN THE PERCENTAGES
OF THE 1996 AD VALOREM TAX THAT ARE ALLOCATED TO
GENERAL FUND OPERATIONS AND TO DEBT SERVICE, BUT
LEAVING THE 1996 TAX RATE UNCHANGED, PROVIDING
THAT THE CHIEF ACCOUNTING OFFICER SHALL MAKE AN
ADJUSTMENT IN THE AMOUNT OF CURRENT TAXES WHICH
IS PAID INTO THE GENERAL DEBT SERVICE FUND TO
OFFSET THE EXCESS PAYMENTS WHICH WERE CAUSED BY
SUCH ERROR, PROVIDING A SEVERABILITY CLAUSE AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, the City Council adopted Ordinance No 12666 on September
10, 1996, which levied an annual ad valorem tax of $0 95 for the year 1996 on
every one hundred dollar ($10.0) valuation on all property, real, personal and
mixed in the City of Fort Worth, Texas, on the first day of January 1996, and
WHEREAS, Ordinance No 12666 provided that the ad valorem tax rate
for 1996 was divided into a maintenance and operation levy of $0 5777 for
general fund operations and a debt levy of $0 3723 for servicing outstanding
debt obligations, and
WHEREAS, Ordinance No 12666 contained a mathematical error and
should be corrected to show that the 1996 tax rate of $0 95 shall be divided into
a maintenance and operation levy of $0 6008 for general fund operations and a
debt levy of $0 3492 for servicing outstanding debt obligations, and
WHEREAS, the action taken herein will not cause the City of Fort Worth
to be in violation of Chapter 26 of the Texas Tax Code,
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
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SECTION I
That Ordinance No 12666 is hereby amended as follows.
1 The last sentence in Section I is changed to read:
"The ad valorem tax rate is divided into a maintenance and
operation levy of $0 6008 for general fund operations and a debt
levy of $0 3492 for servicing outstanding debt obligations "
2 The last sentence in Section II is changed to read:
"The Chief Accounting Officer shall pay each month to the General
Debt Service Fund thirty-six and seventy-six one-hundredths
percent (36 76°l0) of the current taxes collected."
SECTION 11
That to correct the excess payments which were made to the General
Debt Service Fund because of the aforesaid mathematical error, the Chief
Accounting Officer is hereby authorized to reduce the percentage of current
taxes which is paid into the General Debt Service Fund until the amount of the
excess payments is eliminated and the total amount of current taxes paid to the
General Debt Service Fund becomes equal to thirty-six and seventy-six one-
hundredths percent (36 76%) of the current taxes collected.
SECTION III
That except as hereby amended the provisions of Ordinance No 12666
shall remain unchanged.
SECTION IV
That 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 portions, parts, section or parts of sections of this ordinance, which
provisions shall be remain and continue to be in full force and effect
2
SECTION V
That 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 TO FORM AND LEGALITY
~~~s+ty ttor y
ADOPTED ~ Y ~ 7
EFFECTIVE.
3
City of Fort Wordy Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
06/24/97 **G-11920 13LEVY 1 of 1
SUBJECT ADOPTION OF AN AMENDMENT TO CORRECT A MATHEMATICAL ERROR IN THE
ORDINANCE SETTING THE TAX LEVY FOR FY1996-97
RECOMMENDATION
It is recommended that the City Council adopt the attached ordinance to correct a mathematical
error in the ordinance setting the tax levy for FY1996-97
DISCUSSION
In the adopted tax levy ordinance, the percentage used to calculate the debt service payment
from current property tax is incorrect Correcting the debt levy rate will have no effect on the
total tax levy rate
Incorrect• las it is in the FY1996-97 Adopted Budget)
Operating levy 0 5777
GO debt levv a 0.3723
Total tax levy 0 9500
Correct
Operating levy 0 6008
GO debt levy 0.3492
Total tax levy 0 9500
If this correction is not made, it will have a negative impact on the calculation of the 1997-98
effective tax rate because excess funds will be transferred to the Debt Service Fund It will also
cause General Fund expenditures for debt service to exceed the adopted appropriation by
approximately $2 6 million
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies that approving the amendment to the tax levy ordinance
will have no material effect on City funds
CB m
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
APPROVED
Charles Boswell 8511 CITI~ COUNCIL
Originating Department Head:
JUN 24 1Q97
Charles Boswell 8511 (from)
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For Additional Information ~, ti Secretary of the
Texas
of Fozt Worth
Cit
Contact: ,
y
Bridgette Garrett 8518
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