Page 262 - GFOA Draft 2

CITY OF SAGINAW
ORDINANCE NO. 2022- 14

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 2022; 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 2022; 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 FIFTY AND EIGHT THOUSAND
FORTY- TWO TEN THOUSANDTHS CENTS ( 50. 8042) on each ONE HUNDRED DOLLARS

100. 00) valuation of property for the tax year 2022. THIS TAX RATE WILL RAISE
MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST
YEAR'S TAX RATE. THE RATE WILL EFFECTIVELY BE RAISED BY 0. 96
PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND
OPERATIONS ON A $100, 000 HOME BY APPROXIMATELY -$ 11. 90. 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 TWENTY-THREE AND 4, 886/ 10, 000THS CENTS
23. 4886) 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- SEVEN AND 3, 1 5 6/ 10, 000THS
CENTS ( 27. 3156) on each ONE HUNDRED DOLLARS ($ 100. 00) valuation of property.

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