Page 656 - Bedford-FY24-25 Budget

ORDINANCE NO. 2024-3418

AN ORDINANCE LEVYING TAXES FOR THE TAX YEAR 2024 FOR THE CITY OF BEDFORD, TEXAS;
495726
ESTABLISHING THE AD VALOREM TAX RATE OF 0. 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, 2024 and ending September 30, 2025; 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 2024 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,

2.
WHEREAS, THE TAX RATE WILL EFFECTIVELY BE RAISED BY 37 PERCENT AND WILL
000
INCREASE TAXES FOR MAINTENANCE AND OPERATIONS ON A $ 100, HOME BY
APPROXIMATELY $ 6.03.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BEDFORD, TEXAS,
THAT:

SECTION 1. The findings above are found to be true and correct, and are incorporated herein.

SECTION 2. There shall be and there is hereby levied the following taxes on each one hundred
100. dollars valuation on all taxable property within the City of Bedford, Texas,
00)
to be assessed and collected by the Tax Assessor - Collector for the year, and
collected for the purposes herein stipulated, to - wit:
357859
a) For Maintenance and Operations levied on $ 100.00 valuation $ 0.
0.
b) For Interest and Sinking levied on $ 100.00 valuation $ 137867
0.
TOTAL LEVY $ 495726

SECTION 3. Taxes levied by this ordinance shall be due and payable on the first day of October
2024, and shall become delinquent on the first day of February 2025, if unpaid. Upon
taxes becoming delinquent, interest and penalty will be added as required in Section
01
33. of the Texas Property Tax Code, and shall commence on the first day of
February 2025. 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.