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Home My WebLink AboutOrdinances Book 12, Page 21, No Ordinance Number4 21 `;_ -- --_ _--__ _ _ _ _ AN ORDINANCE FIXING ME LEVIES AND RATES OF TAXATION GN ALL PROPERTY IN TIM CITY OF PADUCAH, KENTUCKY, SUBJECT TO TAXATION FOR MUNICIPAL PURPOSES An?D FOR SCHOOL PURPOSES FOR THE YEAR 1950, AND THE RATE OF POLL TAX, ':JIT;T THE, PURPOSES OF SAID TAXES THEREUNDER DEFINED. BE IT ORDAINED BY "HE BOARD OF COMIMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1. There is hereby levied for the year 1950, upon all taxable property within tl-B City of Paducah, Kentucky, real and personal,.subject to taxation for municipal purposes, an ad valorem tax of One Dollar and thirty-six and one half cents (:;1.36w), upon each One Hundred Dollars (:;x100.00) 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 the year 1950, and to cover the estimated cost of maintainin and operating the departments and agencies of said Government pursuant to the 1950 budget prepared and submitted to the Board of Commissioners by the City banager and the 1950 apportionment ordinance adopted by the Board of Commissioners, ex- clusive of the levies hereinafter mentioned and defined, and the proceeds of said tax levy shall be paid into the General Fund of the city. There is also hereby levied for the year 1950 a poll tax of One and 50/100 Dollars (•;;1.50 on each male resident of the City of Paducah over 21 years and under 65 years of age as of July 1, 1949. SECTION 2. There is hereby levied for the year 1950 an ad valorem tax of twenty cents (.20¢.') upon each One hundred Dollars (•;,100.00) of the fair cash value of the shares of stock of State Tanks 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 hereby levied for the year 1950 an ad valorem tax of fifteen cents (.15¢) upon each One Hundred Dollars (;,:100.00) of the fair cash value of all unmenufactu_red 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 1950 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 1950 apportionment ordinance. SECTION 4. There is also hereby levied for the year 1950 upon each One Hundred Dollars (.100.00) assessed valuation of said taxable property a special ad valorem tax of five cents (.05y.') to be paid into and to become a part of the Police and b'iremen's Pension fund, which fund shall be se.,regatod and set apart - in the City Treasury and shall be held by the City Treasurer subject to and for the purposes defined in IRS 95.520 to 95.620. 22 Thero is also hereby levied for the year 1950 upon each One Hundred Dollars (`;100.00) assessed valuation of said taxable property a special ad valorem tax of three cents (.03;,) to be paid into and to become a part of the Appointive Employees Pension =Fund, which fund shall be segregated and setapart for the pur- poses defined in IRS 90.400 and the city civil service ordinance adopted on December 2, 1947, as amended. Th re is also hereby levied for the year 1950 upon each One Hundred Dollars 0;100.00) assessed valuation of said taxable property an ad valorem tax of four- teen cents (.14�) to be deposited into a sinkin; fund for the purpose of paying and retiring outstanding bonds which have been voted by the people of the City of Paduc and there is likewise levied for the year 1950 upon each One Hundred Dollars (:;,100.00) assessed valuation of said taxable property an ad valorem tax of fifteen cents (.15p) to pay the interest on said ou`standing unpaid voted bonds, SECTION 5. There is also hereby levied for the year 1950 upon each One Hundrdd Dollars (�1-100.00) assessed valuation of all real and personal property within the city, subject to taxatioh for general municipal purposes, an ad valorem tax of five and one-half cents (.05) for the purpose of maintaining and operat- ing the Public Library, pursuant to the provisions of iLRS 173.360, and the pro- ceeds of said tax levy shall be paid to the Board of Trustees of the Public Library. SECTION 6. 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 Common- wealth 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 year 1950; an ad valorem tax of One Dollar and thirty-six cents (j;1.36) on each One Hundred Dollars (;;100.00) of assessed valuation of all real and personsl property subject to taxation for school purposes in the City of Paducah for the support and main- tenance of the public schools in said city; an ad valorem tax of fourteen cents (.14d) on each One Hundred Dollars (,;100.00) of assessed valuation of all real and n rsonal property subject to taxation for school purposes in said city to provide a fund for the purchase of sites for school buildings, for the erection and equip- pinC of school buildin s, and for major alterations, enlargement and complete equip- pin,,� of existing buildings of the school system in said city; and an ad valorem tax of forty cents (.40`) on each One Hundred Dollars (•:1100.00) of the fair cash value of all shares of stock of State Banks and Trust Companies, Incorporated under the laws of this CorrJnomaealth, and engaCing in business in said city, and the same tax is also levied on the shares of stock of National %arks and Trust Com - panies loin*; business in said city, Y:'nich taxes so levied shall be for the sppport and maintenance of the public schools in said city. 9 23 SECTIOA? 7. There is hereby further levied an ad valorem tax of six cents (.06�) on each One hundred (•;100.00) of assessed valuation of all real and personal property subject to taxation for school purposes in said city, for the year 1950, for the purpose of aidinL, assistin_ and maintaining the Paducah Junior College, which tax shall be and the same is hereby declared to be a tax for school purposes. SECTION 0. The taxes levied under this ordinance are surunarized as follows PURPOSE RATE PER 5;100 General Pund of the City y;1.362 Other 1.Iunicipal Purposes Public Library .052 Police c,.Firemen&s Pension Fund .05 Appointive Employees Pension Fund .03 Voted !:ends Sinking Fund for -Retirement .14 Interest .15 School Purposes Public Schools-Operatin, Fund 1.36 - Public Schools -Building Fund .14 Paducah Junior College 06 Total tax rate per k:100 on property subject to full tax rate .3.35 PURPOSE RATE PER ;;e'100 Special Levies for General Fund Stock of Banks and Trust Companies d .20 Unmanufactured agricultural products .15 Special Levy for Public .schools -Operating Fund Stock of Banks and Trust Companies .40 Poll Tax . ..1.50 on each male resident over 21 and under 65. SECTION 9. The provisions of this ordinance are severable. If any provision, section, paragraph, sentence or part thereof shall be held uncon- stitutional or invalid, such decision shall not affect or impair the remainder of this ordinance, it being the legislative intent to ordain and enact each pro- vision, section, paragraph, sentence and part thereof, separately and independent of each other. SECTIO:- 10. This ordinance shall be in full force and Affect from and after its adoption. Passed by the ;.card of Commissioners '.arch 7, 1950 Recorded by Sarah Thunman, City Clark, -,..arch 7, 1950