Page 236 - Saginaw FY22 Adopted Annual Budget

CITY OF SAGINAW
ORDINANCE NO. 2021- 17

AN ORDINANCE LEVYING TAXES FOR THE USE AND SUPPORT OF
THE CITY OF SAGINAW, TEXAS MUNICIPAL GOVERNMENT, AND
PROVIDING FOR THE BOND AND INTEREST RETIREMENT FUNDS OF
ALL OUTSTANDING GENERAL OBLIGATION BONDS OF THE CITY,
FOR THE TAX YEAR 2021; APPORTIONING EACH LEVY FOR THE
SPECIFIC PURPOSE AS STATED; AND PROVIDING AN EFFECTIVE
DATE.

WHEREAS, the City of Saginaw, Texas, has done and performed all statutory requirements
precedent to the setting of the City's tax rate for 2021; including the holding of all required public
hearings, if required, after due notice, now, therefore:

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAGINAW, TEXAS:

Section 1. That there is hereby levied and there shall be collected for the use and support
of the municipal government of the City of Saginaw, Texas, and to provide an interest and
sinking fund for the retirement of each series of outstanding general obligation bonds of the City
of Saginaw, Texas, upon all property, real, personal and mixed, within the corporate limits of the
City of Saginaw, Texas, subject to taxation, a tax of FORTY- SEVEN AND NINE
THOUSAND FIVE HUNDRED SIXTEEN TEN THOUSANDTHS CENTS ( 47. 9516) on each
ONE HUNDRED DOLLARS ($100. 00) valuation of for the tax year 2021. THIS TAX
property
RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS
THAN LAST YEAR'S TAX RATE. THE RATE WILL EFFECTIVELY BE
RAISED BY 3. 34 PERCENT AND WILL RAISE TAXES FOR MAINTENANCE
AND OPEARTIONS ON A $100,000 HOME BY APPROXIMATELY $0. 82. Said
tax being so levied and apportioned for the purposes hereinafter set forth, to-wit:

a) For Interest and Sinking Funds of the City of Saginaw, Texas, for payment of the
principal as it matures and interest as it accrues upon all outstanding General Obligation Bonds of
the City of Saginaw, Texas, a tax of NINETEEN AND 4,458/ 10, 000THS CENTS ( 19.4458) on
each ONE HUNDRED DOLLARS ($ 100.00) valuation of property.

b) For the maintenance and operation of the General Government of the City of
Saginaw, Texas, ( General Fund), a tax of TWENTY- EIGHT AND 5, 0 5 8/ 10,000THS
CENTS ( 28. 5058) on each ONE HUNDRED DOLLARS ($ 100. 00) valuation of
property.

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