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ORD CC 09/27/76 - Levying TaxesOrdinance No. 76 -16 AN ORDINANCE LEVYING TAXES UPON TAXABLE PROPERTY LOCATED WITHIN AND S BJECT TO TAXATION IN THE CITY OF HUNTSVILLE, TEXAS, AND DECLARING AN EMERGE CY BE IT ORDAINED, by the City Council of the City of Huntsville in Council assembled: SECTION ONE: That there is hereby levied, for the current year On all real property situated and all personal property owned within the lim is of the said City of Huntsville, Texas, on the first day of January, 1976, except so much as may be exempt under the Constitution and Laws of this Stet and of the United States, the following taxes: (1) An ad valorem tax of and at the rate of one dollar and fivel1cents ($1.05), on the One Hundred ($100.00) Dollars cash value thereof, estimated in lawful currency of the United States for the current expenses for the support and maintenance of the City Government of said City of Huntsville, Texas. (2) An ad valorem tax of and at the rate of fifteen cents (15), on the One Hundred ($100.00) Dollars cash value thereof, estimated in lawful currency of the United States, to pay current interest on and provide one year's sinking fund andito pay all of the principal and interest accruing on all outstanding bonds, paving bonds, funding warrants, improvement bonds and warrants and any and all other bonds and warrants outstanding heretofore lawfully issued by the City of Huntsville, Texas; and which are not levied outstanding obligations of the said City of Huntsville, Texas. SECTION TWO: All property upon which a rate of taxation in hereinabove levied shall be assessed on a ratio of 50 percent of the estimated market value thereof. SECTION THREE: The above and foregoing Ordinance shall take effect and be in full force from and after its passage and approval. ADOPTED AND APPROVED in open Council this the 27th day of Sep A.D., 1976. DeShaw, City Sec APPROVED AS TO FORM: I k'\►1(1/ Jack Haney, City ttorne� 373 CITY OF HUNTSVILLE, T