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ORD 1985-27 - Adopt FY 85-86 Budget• ORDINANCE NO. 85-27 AN ORDINANCE FIXING THE TAX RATE AND LEVYING TAXES FOR THE CITY OF HUNTSVILLE FOR THE ENSUING FISCAL YEAR UPON ALL TAXABLE PROPERTY LOCATED WITHIN AND SUBJECT TO TAXATION IN THE CITY; AND PROVIDING FOR THE EFFECTIVE DATE HEREOF. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS, that: Section 1: There shall be and is hereby levied and shall be assessed and collected for the fiscal year ending September 30, 1986, an ad valorem tax of NO AND 56/100 ($0.56) DOLLARS for each ONE HUNDRED ($100.00) DOLLARS of assessed value of property located within the City limits of Huntsville on January 1, 1985, made taxable by law, which said taxes, when collected, shall be apportioned among funds and departments of the City Government of the City of Huntsville for these purposes: General Fund Operations Debt Service for payment of bonded indebtedness $0.41 0.15 $0.56 Section 2: All property upon which a tax is levied shall be assessed on the basis of 100 percent of its appraised value. Property Tax Code § 26.02. Section 3: This ordinance shall take effect from and after its passage by City Council. PASSED AND APPROVED this 10th day of September, 1985. ATTEST: APPROVED AS TO FORM: THE CI Y OF HUNTSVILLE, TEXAS