Page 331 - City of Colleyville FY22 Adopted Budget

ORDINANCE 0- 21- 2171

EVYING TAXES FOR THE OPERATION OF THE MUNICIPAL
3OVERNMENT OF THE CITY OF COLLEYVILLE, TEXAS, FOR THE
ISCAL YEAR 2022; ESTABLISHING THE AD VALOREM TAX RATE
F $ 0. 291778 PER ONE HUNDRED DOLLARS VALUATION;
ROVIDING FOR APPORTIONMENT OF TAXES FOR INTEREST AND
iINKING FUND FOR CERTAIN BOND INDEBTEDNESS AND FOR
3ENERAL OPERATING NEEDS, PROVIDING PENALTIES AND
NTEREST FOR THE DELINQUENT TAXES, AND TO BECOME EFFECTIVE
N OCTOBER 1, 2021

HEREAS, a budget has been adopted by the City Council of the City of
Colleyville, Texas, covering the proposed expenditures of the
municipal government of the City of Colleyville for the fiscal
year beginning October 1, 2021 and ending September 30,
2022; and

REAS, said budget reflects the needs for revenue to meet the
expenses proposed therein; and

REAS, the City is required to accumulate an Interest and Sinking Fund
for certain outstanding bond indebtedness; and

REAS, the City Council desires to lower the current tax rate to the
effective tax rate, to provide relief to property owners from
increasing property values.

OW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
ITY OF COLLEYVILLE, TEXAS:

1. THAT there is hereby levied an ad valorem tax that shall be
collected for the use and support of the municipal government
of the City of Colleyville. It shall provide the legally required
Interest and Sinking Fund for certain outstanding bond
indebtedness during the 2022 fiscal year. Such tax shall be
levied upon all property, real, personal, or mixed within the
corporate limits of Colleyville, Texas, which is subject to
taxation. The rate of tax shall be $ 0. 291778 on each $ 100. 00
property assessment. Said tax levied for and apportioned to
the following specific purposes:

A. For the General Fund, a tax rate of $ 0. 280687 is levied.

B. For the Interest and Sinking Fund, a tax rate of $. 011091 is
levied.

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