Page 2 - Richland Hills FY22 Annual Budget

SECTION 2.

That pursuant to state law, no expenditure of the funds of the City shall hereafter be made
except in compliance with the budget and applicable state law; provided, however, that in the case
of grave public necessity emergency expenditures to meet unusual and unforeseen conditions,
which could not be reasonable, diligent thought and attending have been included in the original
budget, may from time to time be authorized by the City Council as amendments to the original
Budget.

SECTION 3.

That expenditures during this fiscal year shall made in accordance with the budget
approved by this Ordinance unless otherwise authorized by the City Council.

SECTION 4.

That the necessity for making and approving the budget for the fiscal year, as required by
laws of the State of Texas, creates urgency and an emergency and requires that this Ordinance
shall immediately take effect from and after its passage, as the law in such cases provides.

SECTION 5.

That the following statements are true and correct:

The property tax revenue to be raised from new property added to the tax roll this year is $18,356.

The municipal property tax rate for the preceding fiscal year was $0.558551 per $100.

The municipal property tax rates that have been adopted or calculated for the current fiscal year
for which this budget is adopted, are as follows:

(A) the property tax rate is $0.558551 per $100;

(B) the No-New Revenue tax rate is $0.538885 per $100;

(C) the Voter-Approval tax rate, adjusted for sales tax, $0.586308 per $100;

(D) the De Minimis Rate tax rate is $0.622016 per $100 taxable property value after exemptions;

(E) the debt rate is $0.145257 per $100; and

(F) the total amount of municipal debt obligations is $15,530,000.

DULY PASSED and approved by the City Council of the City of Richland Hills, Texas,
on the 27th day of September 2021 by a record vote of:

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