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Home My WebLink About78-12-16641072 ORDINANCE NO. 78-12-1664 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_1 1978 THROUGH JUNE 30, 1979, WITH THE PURPOSES OF SAID TAXES THEREUNDER DEFINED BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1. There is hereby levied for the period from July 1, 1978 through June 30, 1979, 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-nine and 74/100 cents ($0.4974) 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. There is also levied for said period an ad valorem tax of One and 5/10 Cents ($0.015) upon each one hundred dollars ($100.00) of the fair cash value of unmanufactured tobacco, and Four and 5/10 Cents ($0.045) upon each one hundred dollars ($100.00) of all other unmanufactured agricultural products within said city subject to taxation for general municipal purposes. 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, 1978 through June 30, 1979. 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 Two-tenths of One Cent ($0.0020) to be paid into and to become a part 1073 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 Two and 35/100 cents ($0.0235) 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 Two and 95/100 cents ($0.0295) 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 ($100.00) assessed valuation of all real and personal property within the city, subject to taxation for general municipal purposes, an ad valorem tax of Five and 2/10 Cents ($0.0520) 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. pursuant to a resolution adopted by the Board of Commissioners on November 14, 1978, the rax rate for the "West End Annexation Area" annexed on December 13, 1977, and hereafter known as District 4, is hereby set at sixty percent (60%) of the City Only portion of the ad valorem levy, or Thirty -Six and 26/100 cents ($0.3626) upon each one hundred dollars ($100.00) assessed valuation of said property. SECTION 8. 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 Commonwealth of Kentucky, has adopted a resolution and budget requesting that the Board of Commissioners of the City of Paducah levy an ad valorem tax on 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, 1978 through June 30, 1979, an ad valorem tax of Thirty-eight and 1/10 cents ($0.3810) 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-eight and 1/10 Cents ($0.3810) 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 valoreum tax of thirty-eight and one tenths cents ($0.3810) 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 1978-79 1074 fiscal year, the same being necessary to be raised in addition to all other funds to be received by the Paducah_ Independent School District to support and maintain the - public schools of the Paducah Independent School District". SECTION 9. 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 Thirteen and 0/100 Cents ($0.1300) 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 Thirteen and 0/100 Cents- ($0.1300) on each one hundred dollars ($100.00) of property subject to taxation for school purposes_ in said city for the period from July 1, 1978 through -June 30, 1979_ for the purpose of providing for the purchase or lease of school sites and buildings, for the erection and complete equipping of new school buildings, for the major alterations, enlarge- ment and complete 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. SECTION 10. There is hereby further levied an ad valorem tax, of Three and 7/10 Cents ($0.0370) 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, 1978 through June 30, 1979 for the purpose of _aiding, assisting and maintaining the Paducah Community College, which tax shall be and the same is hereby declared to be a tax for school purposes. SECTION 11. The taxes levied under this ordinance are summarized as follows: PURPOSE RATE PER $100.00 General Fund of the City $0.4974 Other Municipal Purposes Public Library $0.0520 Appointive Employees' Pension Fund $0.0020 Voted Bonds Sinking Fund for Retirement $0.0235 Interest $0.0295 SCHOOL PURPOSES Public Schools - Operating Fund $0.3810 Public Schools - Special School Building Tax -$0.13001 Paducah Community College $0.0370 Total Tax Rate per $100.00 on property subject to full tax rate $1.1524 1075 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 12. 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 13. This ordinance shall- be in full force, and effect from and after the date of its -adoption. Mayor Passed by the Board of Commissioners December 22, 1978 Recorded by Louise McKinney, City Clerk, December 22, 1978.