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Home My WebLink About81-12-2188225 ORDINANCE NO. 81-12-2188 AN ORDINANCE FIXING THE LEVIES AND RATES OF TAXATION ON ALL PROPERTY IN THE CITY OF PADUCAH, KENTUCKY, SUBJECT TO TAXATION FOR MUNICIPAL PURPOSES AND FOR SCHOOL PURPOSES FOR THE PERIOD FROM JULY 1, 1981 THROUGH JUNE 30, 1982, WITH THE PURPOSES OF J 4a�. i $ i BE IT ORDAINED BY THE CITY -OF PADUCAH, KENTUCIZY: SECTION 1. There is hereby levied for the period from July 1, 1981 through June 30, 1982, upon all taxable property within the City of Paducah, Kentucky, real and personal, subject to taxation for municipal purposes, an ad valorem tax of Forty-five and 7/10 cents ($0.457) upon each one hundred dollars ($100.00) assessed valuation of said property, pursuant to Section 157 of the State Constitution, to defray the cost of maintaining and administering the government of the City of Paducah for said period, exclusive of the levies hereinafter mentioned and defined, and the proceeds of said tax levy shall be paid into the General Fund of the City. SECTION 2. There is hereby levied for said period an ad valorem tax of Nineteen Cents ($0.19) upon each one hundred dollars ($100.00) of the fair cash value of the shares of stock of State Banks and Trust Companies incorporated under the laws of this Commonwealth and doing business in the City of Paducah, and the same tax is also hereby levied upon the shares of stock of National Banks doing business within the City. SECTION 3. All taxes.levied by Sections 1 and. 2 of this ordinance are necessary and required in order to provide revenue to meet the requirements -of the apportionment ordinance adopted by the Board of Commissioners, -and the proceeds of such tax levies and all other revenue of the City not specifically allocated to other purposes shall be deposited into the General Fund of the City to be expended as provided in the apportionment ordinance for the period from July 1, 1981 through June 30, 1982. SECTION 4. There is also hereby levied for said period upon each one hundred dollars ($100.00) assessed valuation of said taxable property a special ad valorem tax of One and 5/10 Cents ($0.015) to be paid into and to become a part of the Appointive Employees' Pension Fund, which fund shall be segregated and set apart for the purposes defined in KRS 90.400 and the City Civil Service Ordinance adopted on December 2, 1947, as amended. SECTION 5. There is also hereby levied for said period. upon each one. hundred dollars ($100._00) assessed valuation of said taxable property an ad valorem tax of Six -tenth of one Cent ($0.006) to. -be deposited into a sinking fund for the purpose of paying and retiring bonds which have been :voted by the people of the City of Paducah, and there is likewise levied for said period upon each one hundred dollars ($100.00) assessed valuation of said taxable property an ad valorem tax of 226 Eight -tenths of one Cent ($0.008) to pay the interest on said outstanding unpaid voted bonds. SECTION 6. There is also hereby levied for said period upon each one hundred dollars ($100.0.0) assessed valuation of all real -and personal -property within the city, subject to taxation for general P_=1cipal purposes, an ad valorem tax of Four and 5/10 Cents ($0.045) for the purpose of maintaining and .operating the Public Library, pursuant to the provisions of KRS 173..360,_and the proceeds of said tax levy shall be paid to the Board of Trustees of the Public Library. SECTION 7. The Board of Education. of the City_of Paducah,.pursuant -to the authority vested in it under its charter and Under the laws -of the_Ccumnwealth of Kentucky, has adopted a resolution and budget requesting that the Board of Conrassioners of the City of Paducah levy an ad valorem taxon all property in said city subject to taxation for school purposes. Pursuant to said resolution and budget there is hereby levied the following. taxes_. for the period from July 1,. 1981 through June 30, 1982, an ad valorem tax of.Thirty-five and 4/10 Cents ($0.354) on each -one hundred dollars ($100.00) assessed valuation of all real and.personal property subject to taxation. for school purposes in. the City of Paducah for the support and maintenance of the public schools of -said City. Said resolution pertaining to the aforesaid ad valorem tax of.Thirty-five and 4/10.($0.354) Cents per one hundred.dollars-($100=.00) of assessed valuation is in words and figures as follows: "BE IT RESOLVED.that there be imposed and levied by the -Board of Education of the Paducah Independent School District, Paducah, Kentucky, the ad valorem. tax of.. thirty-five and 4/10 Cents ($0.354) on each $100.00 of assessment at fair cash value of real and personal property and all franchises in the Paducah Independent School District, subject to taxation for the 1981-82 fiscal year,. the same being necessary to, be raised in addition to all other funds to be received by the Paducah ndependent School District to support and maintain the public schools of the Paducah Independent School District". SECTION 8. The Board of Education of the City of Paducah having also adopted a resolution and budget requesting the levy of a Special School Building Tax of Twelve and 1/100 Cents ($0.121) on each one hundred dollars ($100.00) of property subject to local taxation in the City of Paducah, there is hereby further levied a special school building tax of Twelve and 1/100 Cents ($0.121) on each one hundred dollars ($100.00) of property subject to taxation for school purposes in said City for the period from July 1, 1981 through June 30, 1982 for the purpose of providing for the purchase or lease of school sites and buildings, for the erection and con-plete equipping of new school buildings, for the major alterations, enlargement and ccilplete equipping of existing buildings, for the purpose of retiring, directly or through rental payments school revenue bonds issued for such school building improvements and for the purpose of financing any program for the acquisition, improvement or building of schools and to accomplish any or all of such purposes. 227 SECTION 9. There is hereby further levied an ad valorem tax of Three and 3/10 Cents ($0.033) on each one hundred dollars ($100.00) of assessed valuation of all real and personal property subject to taxation for school purposes in said City for the period from July 1, 1981 through June 30, 1982 for the purpose of aiding, assisting and maintaining Paducah Community College, which tax shall be and the same is hereby declared to be a tax for school purposes. SECTICN 10. The taxes levied under this ordinance are summarized as follows: PURPOSE General Fund of the City Other Municipal Purposes: Public Library Appointive Employees' Pension Fund Voted Bonds: Sinking Fund for Retirement Interest SCHOOL PURPOSES: Public Schools - Operating Fund Public Schools - Special Building Tax Paducah Community College RATE PER $100.00 $0.457 $0.045 $0.015 $0.006 $0.008 $0.354 $0.121 $0.033 Total Tax Rate per $100.00 on.property subject to full tax rate $1.039 Special Levies for General Fund.: Stocks of Banks and Trust Companies $0.190 Unmanufactured tobacco products $0.015 Other unmanufactured agricultural products $0.045 SECTION 11. The provisions of this ordinance are severable. If any provision, section, paragraph, sentence or part thereof shall be held unconstitutional or invalid, such decision shall not affect or impair the remainder of this ordinance, it being the legislative intent to ordain and enact each provision, section, paragraph, sentence and part thereof separately and independent of each other. SECTION 12. Due to the assessments being late and the necessity for the City to borrow money, and emergency is hereby declared to exist and this ordinance shall be in full force and effect immediately upon its passage at one reading. Mayor Introduced and passed by the Board of Commissioners December 17, 1981 Recorded by Louise McKinney, City Clerk, December 17, 1981 Published by The Paducah Sun December 22, 1981.