HomeMy WebLinkAbout021455 ORD - 08/18/1992AN ORDINANCE
PRESCRIBING THE TAXES TO BE LEVIED, ASSESSED AND
COLLECTED BY THE CITY OF CORPUS CHRISTI, TEXAS, FOR THE
YEAR 1992 AND FOR EACH SUCCEEDING YEAR THEREAFTER UNTIL
OTHERWISE PROVIDED AND ORDAINED AND SUCH OTHER YEARS
AS THE SAME MAY BE APPLICABLE.
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 1992 as follows:
$ .47229 for purpose of maintenance and operation
$ .13115 for payment of principal and interest on debt
$ .60344 Total Tax Rate
SECTION 2. 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 1992, and for each succeeding year thereafter, until otherwise provided
and ordained, an annual ad valorem tax of $ .47229 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 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 1992 and for each succeeding year thereafter, until otherwise provided
and ordained, an annual direct ad valorem tax of $ .13115 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 taxes to be appropriated for the purpose of creating a sinking fund to pay the
interest and principal maturities on all outstanding City of Corpus Christi bonds not
otherwise provided for, and including the interest, agent fees, and maturities of the following
City of Corpus Christi bonds:
ORD4: 91167
T -r
021455
MIU8OEILMEL
1
GENERAL OBLIGATION BONDS AND INTEREST
MATURING AUGUST 1, 1992 - JULY 31, 1993
Principal
Interest
& Fees
Total
1985A General Obligation $ 6,655,000 $2,322,281 $ 8,977,281
1986 General Obligation 0 225,000 225,000
1987 General Obligation 265,000 1,102,330 1,367,330
1989 General Obligation 0 708,500 708,500
1989 Certificates of Obligation 45,000 104,030 149,030
1990 General Obligation 0 232,062 232,062
1990A General Obligation 350,000 837,508 1,187,508
1990A Certificates of Obligation 100,000 252,674 352,674
1992 General Obligation 0 1,440,771 1,440,771
1992A Certificates of Obligation 0 31,570 31,570
1992 Certificates of Obligation 0 173,926 173,926
$ 7,415,000 $7,430,652 $14,845,652
In addition to the ad valorem tax levy totaling $ 7,860,347, 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 1992 hereby levied shall be due on
receipt of the tax bill and shall be delinquent if not paid before February 1, 1993, except as
otherwise provided in the Texas Property Tax Code; and penalty and interest shall be due
on any delinquent taxes as provided by Chapter 33 of said Property Tax Code. No discount
shall be allowed for early payment of taxes. The Texas Constitution, Property Tax Code,
and other applicable laws shall govern all matters related to the taxes levied herein, and
City shall have all authority thereunder.
SECTION 5. If for any reason any section, paragraph, subdivision, clause,
phrase, word or provision of this ordinance shall be 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 be given full force and effect for its purpose.
ORD4: 91167
1 That the foregoing ordinance was read for the first time and passed to its second reading
the 7 t
day of .(� � , 19(0 , by the following vote:
r
ine
Mary Rhodes
Cezar Galindo
Leo Guerrero
Betty Jean Longoria
That the foregoing or
this the 1 1 day of
Mary Rhodes
Cezar Galindo
Leo Guerrero
Betty Jean Longoria
That the .regoin
day of
Edward A. Martin
Joe McComb
Dr. David McNichols
Clif Moss
Mary Pat Slavik
0
ance was read for the second time and passed to its third reading on
(,l C),L1,2 , 19 ( , by the following vote:
CCs
Edward A. Martin
Joe McComb
Dr. David McNichols
Clif Moss
Mary Pat Slavik
is
ordinance w read for the third time and passed finally on this the 1B
19 , by the following vote:
Mary Rhodes
Cezar Galindo
Leo Guerrero
Betty Jean Longoria
PASSED AND APPROVED, this the j(r3
Al1EST:
City Secretary
APPROVED: 3() DAY OF
Edward A. Martin
Joe McComb
Dr. David McNichols
Clif Moss
Mary Pat Slavik
ObogAi-
Mu
x'30
day of , 19 VIZ.
� 1
JAMES R. BRAY, JR., CITY ATTORNEY
By
r
MAYOR
THE CITY OF CORPUS CHRISTI
,1s7Z
, As ' nt City Attorney
021455
State of Texas,
County of Nueces } ss:
}
PUBLISHER'S AFFIDAVIT
CITY OF CORPUS CHRISTI
Ad #39212
PO #
Before me, the undersigned, a Notary Public, this day personally
came Anna Steindorf, who being first duly sworn, according to
law, says that she is Business Office Secretary of the Corpus
Christi Caller -Times, a daily newspaper published at Corpus
Christi in said County and State, generally circulated in
Aransas, Bee, Brooks, Cameron, Duval, Hidalgo, Jim Hogg, Jim
Wells, Karnes, Kenedy, Kleberg, Live Oak, Nueces, Refugio, San
Patricio, Victoria, and Webb Counties, and that the publication
of NOTICE OF PASSAGE OF ORDINANCE NO. 021455 PRESCRIBING THE
TAXES TO BE LEVIED which the annexed is a true copy, was
published in the Corpus Christi Caller -Times on the 24th day of
August 1992.
One Time(s)
$30.45
/177., -CA
Business Office'Secretary
Subscribed and sworn to before me this
of September, 1992.
Notary Public, Nueces County, Texas
My commission expires on 4-24-93 .
KATHERINE L. URBANEK
Notary Public
State of Texas
My Comm. Exp. 4-24-93
3rd day
NOTE F as PASSAGE OF
ORDIKK021455
PRESCRIBINNO' HF TAXES TO
BE LEVIED, COLLECTED 9AY ASSESSED
CI AND
FOR CORTHE YEARCHRISTI,
AND
FOR EACH SUCCEEDING
YEAR THEREAFTER UNTIL
OTHERWISE PROVIDED AND
ORDAINED AND SUCH OTH..
ER YEARS AS THE SAME
MAY BE APPLICABLE.
The ordinance was passed
and approved on third reading
by the City Council of. the City
of Corpus Christi, Texas on
the 18th day of August, 1992
/s/ Arman Cha,a
CRY City of Corpus Christi