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Home My WebLink About021199 ORD - 07/30/1991Al ORDINANCE PRESCRIBING THE TAXES TO BE LEVIED, ASSESSED AND COLLECTED BY THE CITY OF CORPUS CHRISTI, TEXAS, FOR THE YEAR 1991 AND FOR EACH SUCCEEDING YEAR THEREAFTER UNTIL OTHERWISE PROVIDED AND ORDAINED AND SUCH OTHER YEARS AS THE SAME MAY BF APPLICABLE; PROVIDING FOR EARLY DISCOUNT PAYMENT; PROVIDING A SAVINGS CLAUSE; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. The City Council of the City of Corpus Christi does hereby levy or adopt the tax rate on $100 valuation for this city for tax year 1991 as follows: $.458850 for purpose of maintenance and operation $.1.31150 for payment of principal and interest on debt $.590000 Total Tax Rate SECTION P. That there is hereby Levied, to be assessed and collected in current money of the United States of America, for the use of the City of Corpus Christi, Texas, for the year 1991, and for each succeeding year thereafter, until otherwise provided and ordained, an annual ad valorem tax of $.458850 on each One Hundred Dollar value thereof, on all property, real, personal, and mixed, located within the said City of Corpus Christi, upon which a tax is authorized to be levied by law, and upon all franchises of all individuals, partners and corporations holding franchises in the City from said defrayment of current expenses of the government, including but not limited to street improvement of said City. Said tax shall be assessed upon 100 percent of the cash market value of property subject thereto,. SECTION 3. That there is hereby levied, to he assessed and collected in current money of the United States of America, for the use of the City of Corpus Christ,', Texas, for the tear 1991 and for each succeeding year thereafter, until otherwise provided and ordained, an annual direct ad valorem tax of $.131150 on each One Hundred Dollars value on all property, real, personal, and mixed, and franchises described in Section 2 of this ordinance and assessed upon 100 percent of the cash market value of property subject thereto, said taxer 1., be appropriated for the purpose of creating a sinking fund to pa'- the interest and principal maturities on all outstanding City of Corpus Christi bonds riot otherwise provided vided for, and including the interest, agent fees, and maturities of the following City of Corpus Christi bonds: \nrf-urr5\90106 tJ 4. t MICRIEUAED GENERAL OBLIGATION BONDS AND INTEREST MATURING AUGUST 1, 1991 - JULY 31, 1992 Principal Interest & Fees Total 1985A General Obligation $ 6,335,000 $ 3,129,435 $ 9,464,435 & Refunding 1986 General Obligation 1987 General Obligation �& Refunding 1989 General Obligation 1989 Certificates of Obligation 0 225,000 225,000 285,000 1,568,665 1,853,665 0 708,500 708,500 40,000 107,532 147,532 1990 General Obligation 0 232,062 232,062 1990A Genera] Obligation 325,000 1,046,403 1,371,403 1990A Certificates of 75,000 313,567 388,567 Obligation $ 7,060,000 $ 7,331,164 $ 14,391,164 In addition to the ad valorem tax levy totaling $8,039,464, the balance of this debt incurred by the City of Corpus Christi shall be funded from sources other than ad valorem taxes. SECTION 4. That all taxes for the year 1991 hereby levied shall become due and payable at the office of the Tax Assessor -Collector of the City of Corpus Christi, Texas, on or after the first day of August, 1991, and if rhe taxes levied for said year are nor paid on or before January 31 next after becoming due, said taxes shall he deemed delinquent and interest shall be charged noon the gross amount of the taxes due and penalty due until paid at the rate authorized by Section 33.01, Texas Property Tax Code. All taxpayers shall be allowed discounts for the payment of taxes due in accordance with the terms of Article 31.05, Texas Property Tax Code, as follows: (a) Three percent if the tax is paid in October or earlier; (b) Two percent if the tax is paid in November; and (c) One percent it the tax is paid in December. SECTION 5. That in addition to all taxes and other charges, there is hereby levied a rental fee for the use of streets, alleys, highways easements an<] all other grounds of the City, as provided by state law and the City Charter, against all persons, firms or \ORD-RES\90106 corporations having any pipes, mains, conductors, or other facilities in any public ways, streets, alleys, utility easements or other grounds, or water within the city limits of the City of Corpus Christi as a part of a public utility system. Said charge shall be based on al revenues from tel communications services, electricity, water, gas, cable television, or other utility service and all other services related thereto, including directory advertising within the city limits. Said fee is payable for each and every calendar year. Such payments shall he made to the City of Corpus Christi with verified statements showing the amount of such gross receipts for the respective year. A reasonable charge for the rental fee aforesaid is hereby determined to be four (4) percent of the gross receipts from the above described services of such utility within the City of Corpus Christi, and is hereby _levied in that amount. In the event this rental fee is by state law prohibited, except as to a different rate than as is hereby levied, then the rate is hereby fixed at the highest rate permitted by state law to he levied by the City. Any such public utility shall be liable for the payment of the tax hereby levied unless a different rate of payment or other consideration is provided by written agreement with the City. SECTION 6. If for any reason any section, paragraph, subdivision, clause, phrase, word or provision of this ordinance shall tie held invalid or unconstitutional by final judgment of a court of competent jurisdiction, it shall not affect any other section, paragraph, subdivision, clause, phrase, word or provision of this ordinance for it is the definite intent of this City Council that every section, paragraph, subdivision, clause, phrase, word or provision hereof he given full farce and effect for its purpose. SECTION 7. That upon written request of the Mayor or five Council members, copy attached, to find and declare an emergency due to the need to prescribe the taxes to be levied, assessed, and collected by the City of Corpus Christi, such finding of an emergency is made and declared rec_uiring suspension of the Charter rule as to consideration and voting upon ordinances at three regular meetings so that this ordinance is passed and shah take e ec upon first wiling ng as an emergency measure this the day of / . ATTEST: A.() Cite- Secretar' APPROVED: ;lg. DAY OF Jambi R. Bray City Attorney \ORD-RES\90105 MAYOR THE , 1(i et' , OF CORPUS CHRISTI Corpus Christi, Texas day of � Qr ,19 1 TO THE MEMBERS OF THE CITY COUNCIL Corpus Christi, Texas For the reasons set forth in the emergency clause of the foregoing ordinance an emergency exists requiring suspension of the Charter rule as to consideration and voting upon ordinances at three regular meetings; I/we, therefore, request that you suspend said Charter rule and pass this ordinance finally on the date it is introduced, or at the present meeting of the City Council. Respectfully, Respectfully, Council Members MAYOR THE CITY OF CORPUS CHRISTI The above ordinance was passed by the following vote: Mary Rhodes Cezar Galindo Leo Guerrero Betty Jean Longoria Edward A. 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