G-98-09-24-9A2 - 9/24/1998ORDINANCE NO. g -q09'
AN ORDINANCE LEVYING TAXES FOR THE MAINTENANCE AND
OPERATION OF THE MUNICIPAL GOVERNMENT OF THE CITY OF
ROUND ROCK, TEXAS, AND PROVIDING FOR THE INTEREST AND
SINKING FUND FOR THE YEAR 1998.
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS:
I.
That there is hereby levied and there shall be collected for
the maintenance and operation of the municipal government of the
City of Round Rock, Texas, for the year 1998 upon all property,
real, personal and mixed, within the corporate limits of said City
subject to taxation, a tax of 17.465 cents on each One Hundred
Dollars ($100.00) valuation of property.
That there is hereby levied and there shall be collected for
the City of Round Rock, Texas, to provide for Interest and Sinking
Funds for the year 1998 upon all property, real, personal and
mixed, within the corporate limits of said City subject to
taxation, a tax of 21.035 cents on each One Hundred Dollars
($100.00) valuation of property.
SUMMARY
Maintenance and operation
of the Municipal Government 17.465 cents
Interest and Sinking 21.035 cents
Total Tax per $100.00 of valuation 38.500 cents
II.
All monies collected under this ordinance for the specific
items herein named, be and the same are hereby appropriated and set
K:\WPDOCS\ORDINANC\080910A2.WPD/scg
apart for the specific purpose indicated in each item and that the
Assessor and Collector of Taxes, and the City Finance Director
shall keep these accounts so as to readily and distinctly show the
amount collected, the amounts expended and the amount on hand at
any time, belonging to such funds. All receipts for the City not
specifically apportioned by this ordinance are hereby made payable
to the General Fund of the City.
The City Council hereby finds and declares that written notice
of the date, hour, place and subject of the meeting at which this
Ordinance was adopted was posted and that such meeting was open to
the public as required by law at all times during which this
Ordinance and the subject matter hereof were discussed, considered
and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended, and the Act.
fa'1
READ and APPROVED on first reading this the to -day of
3,0114),M), 1998.
f%1
READ, APPROVED and ADOPTED on second reading this the p�
day of
ATTEST:
, 1998.
City Secretary
2.
CHARLES CU P PER, Mayor
City of Round Rock, Texas
DATE: September 18, 1998
SUBJECT: City Council Meeting, September 24, 1998
ITEM: 9. A. 2. Consider an ordinance adopting the 1998 property tax rate.
(Second Reading)
The Proposed Operating Budget for fiscal 1998-1999 is balanced at a tax
rate of 38.5 cents per $100 of value. Under this proposal, taxes on the
average home would increase by $12.34 or 3.07% compared with last
year's tax rate of 37.706 cents. The proposed tax rate is increasing to
pay for debt service on the issuance of voter -authorized General
Obligation Bonds and Certificates of Obligation in 1998. The first reading
of the ordinance was approved on September 10, 1998. Staff Resource
Person: David Kautz, Finance Director.
The tax rate is made up of two components: a Maintenance and Operations component and a
Debt Service component as follows:
Maintenance and Operations
Debt Service
$0.17465
$0.21035
Total Tax Rate $0.38500