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HomeMy WebLinkAboutORD 74-61Il ORDINANCE NO. ENTITLED AN ORDINANCE PROVIDING FOR THE LEVYING, ASSESSING AND COLLECTING OF AD VALOREM TAXES FOR THE YEAR 1974 FOR THE PURPOSES OF PROVIDING A GENERAL FUND, A CAPITAL IMPROVEMENTS FUND, AND A SINKING FUND TO MEET THE PAYMENT -.OF ALL BONDED INDEBTEDNESS OF THE CITY OF BEAUMONT AND THE PAY- MENT OF ACCRUING INTEREST THEREON; AND PROVIDING FOR SEVERABILITY. BE IT ORDAINED BY THE CITY OF BEAUMONT, TEXAS: Sectiori '1. That there shall be and is hereby levied and shall be assessed and collected for the year 1974, for municipal purposes only, an ad valorem tax of One Dollar and Fifty -Nine Cents ($1.59) on each One Hun- dred Dollars' ($100) worth of property located within the present city limits of the City of Beaumont made taxable by law, which said taxes when collected shall be for purposes hereinafter set forth as follows, to -wit: For the General Fund - $ 1.195 For the Capital Improvements Program Fund .02 For the purpose of paying the accruing interest and to pro- vide a sinking fund for the payment of the entire bonded indebtedness of the City of Beaumont .375 Section '2. If any section, subsection, sentence, clause, phrase, or portion of this ordinance is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such section, subsection, sentence, clause, phrase, or portion shall be deemed a separate, distinct and in- dependent provision and such holding shall not affect the validity of the remaining portions hereof. PASSED BY THE CITY COUNCIL of the City of Beaumont this the day of , 1974. ayor -