HomeMy WebLinkAbout029947 ORD - 09/10/2013Ordinance
Setting a property tax rate of $0.585264 per $100 valuation which is
effectively a 10.63% increase over the effective tax rate; 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 ad valorem tax rate on $100 valuation for this city for tax year 2013 as follows:
$0.376806 for the purpose of maintenance and operation
0.208458 for payment of principal and interest on debt
$0.585264 Total Tax Rate
THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE
AND OPERATIONS THAN LAST YEAR'S TAX RATE.
THE TAX RATE WILL EFFECTIVELY BE RAISED BY 8.00 PERCENT
AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS
ON A $100,000 HOME BY APPROXIMATELY $27.91.
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 tax
year 2013 and for each succeeding tax year thereafter, until otherwise provided and
ordained, an annual ad valorem tax of $0.376806 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 tax
year 2013 and for each succeeding tax year thereafter, until otherwise provided and
ordained, an annual ad valorem tax of $0.208458 on each One Hundred Dollar 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:
9 I 7'
INDEXED
ANNUAL DEBT SERVICE DUE
FY 2013 -2014
2004 Certificates of Obligation
2005 General Obligation
2005 Certificates of Obligation
2006 Certificates of Obligation
2007 Certificates of Obligation
2007 General Obligation
2007A General Obligation
2008 Tax Notes
2008 Certificates of Obligation
2009 General Obligation
2009 Certificates of Obligation
2010 General Obligation
2010 Certificates of Obligation
2012 General Obligation
2012 Public Property
Contractual Obligation
2012C General Obligation
2012D General Obligation
Principal
$320,000
$6,065,000
$310,000
$425,000
$112,398
$180,000
$1,355,000
$1,090,000
$245,000
$3,370,000
$300,000
$525,000
$110,000
$500,000
$560,000
$3,300,000
$1,845,000
Interest & Fees
$13,513
$634,928
$32,316
$57,153
$86,216
$136,714
$1,102,587
$77,968
$50,077
$3,453,957
$310,062
$466,163
$108,684
$1,862,433
$148,428
$1,030,175
$2,584,107
Total
$333,513
$6,699,928
$342,316
$482,153
$198,614
$316,714
$2,457,587
$1,167,968
$295,077
$6,823,957
$610,062
$991,163
$218,684
$2,362,433
$708,428
$4,330,175
$4,429,107
2013 General Obligation
2013 Tax Notes
Total required for 2014 debt
service
Less: Amount paid from
unencumbered fund balance
Less: Transfers for self -
supporting debt
Total to be paid from taxes in
2014
$1,500,000
$1,160,000
$23,272,398
$2,841,492
$68,912
$15,065,885
$4,341,492
$1,228,912
$38,338,283
($2,826,357)
j$6,662,5761
$28,849,350
In addition to the ad valorem tax levy for debt service totaling $29,438,112, 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 tax year 2013 hereby levied shall be due on receipt of
the tax bill and shall be delinquent if not paid before February 1, 2014, 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, phrase, word or provision of this ordinance, for it is the definite intent of this City
Council that every section, paragraph, subdivision, clause, phrase, • rd or provision hereof
be given full force and effect for its purpose.
SECTION 6: That upon written request of the Mayor or five Council members, copy
attached, the City Council (1) finds and declares an emergency due to the need for
immediate action necessary for the efficient and effective administration of City affairs and
(2) suspends the Charter rule that requires consideration of and voting upon ordinances at
two regular meetings so that this ordinance is passed and takes effect upon first reading as
an emergency measure this I +@D-day of September, 2013.
Armando Chapa
City Secretary
THE CI OF CORPUS CHRISTI
Nelda Martinez
Mayor
Corpus Christ, Texas
Day of
2013
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 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,
Nelda Martinez
Mayor
Council Members
The above ordinance was passed by the folio wing vote:
Kelley Allen
Rudy Garza Jr.
Priscilla G. Leal
David Loeb
Chad Magill
Nelda Martinez
Colleen McIntyre
Lillian Riojas
Mark Scott