HomeMy WebLinkAbout024194 ORD - 08/29/2000AN ORDINANCE
PRESCRIBING THE TAXES TO BE LEVIED, ASSESSED AND
COLLECTED BY THE CITY OF CORPUS CHRISTI, TEXAS, FOR TAX
YEAR 2000 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 1o 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 2000 as follows:
$.4631326 for purpose of maintenance and operation
$. 1605934/'or payment of principal and interest on debt
$.6237260 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 2000, and
for each succeeding year thereafter, until otherwise provided and ordained, an annual ad valorem mx
of $.4631326 on each One Hundred Dollar value thereof, on all property, real, personal and mixed,
located ~vithin 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 2000 and
for each succeeding year thereafter, until otherwise provided and ordained, an annual ad valorem tax
of $. 1605934 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:
024194
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GENERAL OBLIGATION BONDS AND INTEREST
MATURING AUGUST 1, 2000 - JULY 31, 2001
Principal Interest & Fees Total
1987 General Obligation $ 3,461,098 $ 6,028,902 $ 9,490,000
1989 Certificates of Obligation 80,000 5,600 85,600
1990 General Obligation 180,000 12,600 192,600
1990A Certificates of Obligation 150,000 9,900 159,900
1990A General Obligation 550,000 45,375 595,375
1992 General Obligation 0 657,738 657,738
1992 Certificates of Obligation 125,000 96,815 221,815
1992A Certificates of Obligation 20.000 2,815 22,815
1993 General Obligation 1,350.000 815,597 2,165,597
1093 Certificates of Obligation 80,000 42,350 122,350
1994A Certificates of Obligation 100,000 161,450 261,450
1994B Certificates of Obligation 150,000 87,725 237,725
1995 General Obligation 320,000 1,570,725 1,890,725
1995 Certificates of Obligation 475,000 503,000 978,000
1995A General Obligation 10,000 44,770 54,770
1995B General Obligation 350,000 435,933 785,933
1996 Certificates of Obligation 150,000 198,312 348,312
1998 Certificates of Obligation 600,000 445,900 1,045,900
$ 8.151.098 $11.165.507 $19.316.605
In addition to the ad valorem tax levy totaling $47,727,872, the balance of this debt, if any,
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 2000 hereby levied shall be due on receipt
of the tax bill and shall be delinquent if not paid before February 1, 2001, 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 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,
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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.
ATTEST:
Arma~cretary
THE CITY OF CORPUS CHRISTI
LEGAL FORM APPROVED
By:
, 2000, JAMES R. BRAY, JR. CITY ATTORNEY
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~t a~y of Oregoij~g ordinance ~wa~read for the first time and passed to its second reading on this the
f (- Lt-'x~-'C,C×J-z~, 2000, by the following vote:
Samuel L. Neal, Jr. ~ Rex A. Kinnison
Javier D. Colmenero
Melody Cooper
Henry Garrett
Dr. Arnold Gonzales
Betty Jean Longoria
John Longoria
Mark Scott
That the fcpr~goinxg o.r~n~ce was read for the second time and passed finally on this the ~6~ day
of k, iLI~LU~/'C' , 2000, by the following vote:
Samuel L. Neal, Jr. ~ Rex A. Kinnison ~q~'
Javier D. Colmenero (,/~) ~ Betty Jean Longoria
Melody Cooper
Henry Garrett
Dr. Arnold Gonzales
PASSED AND APPROVED this the
ATTEST:
John Longoria
Mark Scott
[day of ,2000.
Armando Chapa
City Secretary
Mayor, The City of Corpus Christi
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