Page 612 - Bedford-FY23-24 Budget

ORDINANCE NO. 2023- 3380

AN ORDINANCE LEVYING TAXES FOR THE TAX YEAR 2023 FOR THE CITY OF BEDFORD, TEXAS;
ESTABLISHING THE AD VALOREM TAX RATE OF .495726 PER ONE HUNDRED DOLLARS
VALUATION; PROVIDING FOR THE APPORTIONMENT OF TAXES FOR INTEREST AND SINKING
FUND FOR CERTAIN BOND INDEBTEDNESS AND FOR GENERAL OPERATING NEEDS; PROVIDING
PENALTIES AND INTEREST FOR DELINQUENT TAXES; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, a budget has been adopted by the City Council of Bedford, Texas, covering the
proposed expenditures of the municipal government of the City of Bedford for the fiscal year
beginning October 1, 2023 and ending September 30, 2024; and,

WHEREAS, the Tarrant County Tax Assessor-Collector, as the designated officer for the City of
Bedford, has calculated the no-new-revenue rate and voter-approval rate for the 2023 tax year for
consideration by the City Council in accordance with the Tax Code; and,

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

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

WHEREAS, all statutory and constitutional requirements for the passage of this ordinance have
been adhered too, including, but not limited to, the Open Meetings Act; and,

WHEREAS, the City Council of Bedford, Texas, determines that the passage of this ordinance is in
the best interests of the health, safety and welfare of the public; and,

WHEREAS, THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS
THAN LAST YEAR' S TAX RATE; and,

WHEREAS, THE TAX RATE WILL EFFECTIVELY BE RAISED BY 8.37 PERCENT AND WILL
DECREASE TAXES FOR MAINTENANCE AND OPERATIONS ON A $ 100, 000 HOME BY
APPROXIMATELY$ 15. 67.

NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BEDFORD, TEXAS:

SECTION 1.
That the findings above are found to be true and correct, and are incorporated
herein.
SECTION 2.
That there shall be and there is hereby levied the following taxes on each one
hundred ($
100.00) dollars valuation on all taxable property within the City of
Bedford, Texas, to be assessed and collected by the Tax Assessor-Collector for the
year, and collected for the purposes herein stipulated, to-wit:

a) For Maintenance and Operations levied
on $ 100. 00 valuation $. 351831
b) For Interest and levied
Sinking on $ 100 valuation 143895
TOTAL LEVY
495726
SECTION 3.
That taxes levied by this ordinance shall be due and payable on the first day of
October 2023, and shall become delinquent on the first day of February 2024, if
unpaid.
Upon taxes becoming delinquent, interest and penalty will be added as
required in Section 33. 01 of the Texas Property Tax Code, and shall commence on
the first day of February 2024. The City of Bedford is hereby authorized to adopt any
and all legal remedies provided by the Texas Property Tax Code for the purpose of
collecting delinquent taxes.