HomeMy WebLinkAbout022682 ORD - 09/10/1996AN ORDINANCE
PRESCRIBING THE TAXES TO BE LEVIED, ASSESSED AND
COLLECTED BY THE CITY OF CORPUS CHRISTI, TEXAS, FOR THE
YEAR 1996 AND FOR EACH SUCCEEDING YEAR THEREAFTER UNTIL
OTHERWISE PROVIDED 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 and adopt
the tax rate on $100 valuation for this city for tax year 1996 as follows:
$.444536 for purpose of maintenance and operation
$.179190 for payment of principal and interest on debt
$.623726 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 1996, and
for each succeeding year thereafter, until otherwise provided and ordained, an annual ad valorem tax
of $.444536 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
for 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 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 1996 and
for each succeeding year thereafter, until otherwise provided and ordained, an annual ad valorem tax
of $.179190 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 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:
61RB1000.501
022682 MooratEt
GENERAL OBLIGATION BONDS AND INTEREST
MATURING AUGUST 1, 1996 - JULY 31, 1997
1985A General Obligation
1987 General Obligation
1989 Certificates of Obligation
1990 General Obligation
1990A General Obligation
1990A Certificates of Obligation
1992 General Obligation
1992 Certificates of Obligation
1992A Certificates of Obligation
1993 General Obligation
1993 Certificates of Obligation
1994A Certificates of Obligation
1994B Certificates of Obligation
1995 General Obligation
1995 Certificates of Obligation
1995A General Obligation
1995B General Obligation
1996 Certificates of Obligation
Principal
Interest & Fees
Total
$6,865,000.00
$20,000.00
$6,885,000.00
$3,080,000.00
$807,535.00
$3,887,535.00
$60,000.00
$24,925.00
$84,925.00
$0.00
$41,663.00
$41,663.00
$450,000.00
$141,550.00
$591,550.00
$125,000.00
$54,550.00
$179,550.00
$0.00
$657,738.00
$657,738.00
$100,000.00
$123,315.00
$223,315.00
$15,000.00
$8,190.00
$23,190.00
$155,000.00
$901,315.00
$1,056,315.00
$60,000.00
$57,125.00
$117,125.00
$80,000.00
$190,325.00
$270,325.00
$125,000.00
$123,801.00
$248,801.00
$30,000.00
$1,610,135.00
$1,640,135.00
$375,000.00
$766,959.00
$1,141,959.00
$0.00
$45,630.00
$45,630.00
$300,000.00
$653,394.00
$953,394.00
$125,000.00
$228,962.00
$353,962.00
$11,945,000.00
$6,457,112.00
$18,402,112.00
In addition to the ad valorem tax levy totaling $42,073,811, 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 1996 hereby levied shall be due on receipt
of the tax bill and shall be delinquent if not paid before February 1, 1997, 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
govem all matters related to the taxes levied herein, and the 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..
611261000.501
SECTION 6. That upon written request of the Mayor or five Council members, copy
attached, to find and declare an emergency due to the need for immediate action necessary for the
efficient and effective administration of City affairs, such finding of an emergency is made and
declared requiring suspension of the Charter rule as to consideration and voting upon ordinances at
two regular meetings so that this� or/�nance is pass d and shall take effect upon first reading as an
6
emergency measure this the day of Yptunbit.), 1996.
ATTEST:
Armando Chapa, City Secretary
MAYOR
THE CITY
APPROVED THIS 4TH DAY OF SEPTEMBER, 1996:
JAMES R BRAY, JR., CITY ATTORNEY
V
61RB 1000.501
CORPUS CHRISTI
Corpus Christi, Texas
/0E1 day of .5eptinaw
TO THE MEMBERS OF THE CITY COUNCIL
Corpus Christi, Texas
, 1996.
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 two
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
MAYO
THE CITY -OF CORPUS CHRISTI
The above ordinance was passed by the following vote:
Mary Rhodes
Dr. Jack Best
Betty Black
Melody Cooper
Tony Heldenfels
Betty Jean Longoria
John Longoria
Edward A. Martin
Dr. David McNichols
618131000.501
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