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HomeMy WebLinkAboutOrdinances Book 12, Page 330, No Ordinance NumberAN ORDINANCE FIXING THE LE'JIES AND RATES OF TAXATION OF ALL PROPERTY IN T CITY OF PADUCAH, KENTUCKY, SUBJECT TO TAXATION FO11 b:UNICIPAL PURPOSES AND FOR SCHOOL. PURPOSES FOR THE, YEAR 1951, AND THE HATE OF POLL TAX, WITH THS 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 th� year 1951, upon all taxable property within the City of Paducah, Kentucky, rea�dl and personal, subject to taxa- tion for municipal purposes, an ad valorem tax of One Dollar and thirty-six and one-half cents (1,'?1.361), 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 the year 1951, and to cover the estimated cost of maintaining and operating the de- partments and agencies of said Government pursuant to the 1951 budget prepared and submitted to the Board of Commissioners by the City Manager and the 1951 apportion- ment ordinance adopted by the Board of Commissioners, exclusive of the levies here- inafter 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 1951 a poll tax of One and 50/100 Dollars (,;1.50) on each male resident of the City of Paducah over 21 years and 65 years of age as of July 1, 1950. SECTION 2. There is hereby levied for the year 1951 an ad valorem tax of twenty cents (.2(4) upon each One Hundred Dollars (:1100.00) 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 hereby levied for the year 1951 an ad valorem 'tax of fifteen cents (.15¢) upon each One Hundred Dollars(:;?100.00) of the fair cash value of all 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 1951 apportionment ordinance adopted by the Board of Commissioners, and the procee 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 or ovided in the 1951 apportionment ordinance. SECTION 4. There is also hereby levied for the year 1951 upon each One hundred Dollars (;1L100.00) assessed valuation of said taxable property a special ad valorem tax of five cents (.05¢) to be paid into and to become a part of the Polie and Firemen's Pension Fund, which fund shall be segregated and setapart in the City Treasury and shall be held by the City Treasurer subject to and for the purposes defined in KIRS 95.520 to 95.67.0. There is also hereby levied for the year 1951 upon each One Hundred Dollars (;;100.00) assessed valuation of said taxable property a special ad valorer. 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 set apart for the purposes defined in KRS 90.400 and the city civil service ordinance adopted on December 2, 1947, as amended. There is also hereby levied for the year 1951 upon eac One Hundred Dollars (•,;100.00) assessed valuation of said taxable property an ad valorem tax of fourteen cents (.140) 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 Paducal and there is likewise levied for the year 1951 upon each One Hundred Dollars (.;)100.( assessed valuation of said taxable property an ad valorem tax of fifteen cents (.15¢) to pay the interest on said outstanding unpaid voted bonds. SECT103? 5. There is also hereby levied for the year 1951 upon each One Hundred Dollars (•;;100.60) 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 one-half cents (.0512) 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. SECTIOA,' o. The Board of Education of the City of Paducah, pursuant to the authority vested in it under its charter and under the lairs 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 saiu resolution and budget there is hereby levied the following taxes for the year 1;51; an ad valorem tax of One Dollar and forty cents (1.40) 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 i, said city; an ad valorem tax of ten cents (.10) 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 to provide a fund for the purchase of sites for school buildings, for the erection and equipment of existing buildings of the school system in said city; and an ad valorem tax of forty cents (.40) on each One Hundred Dollars (•;61100.00) of the fair cash value of all shares of stock of State Banks and Trust Companies, incorporated under the laws of this Commonwealth, and engaging in business in said city, and the same tax is also levied on the shares of stock of National Banks and Trust Companies doing business in said city, which taxes so levied shall be for the support and maintenance of the public schools in said city. 332 SECTIOI: 7. There is hereby further levied an ad valorem tax of six cents (.06) on each One Hundred Dollars (;1100.00) of assessed valuation of all real and personal property subject to taxation for school purposes in said city for the year 1951, for the purpose of aiding, assisting and maintaining the Pad Junior College, which tax shall be and the same is hereby declared to be a tax for school purposes. SECTION 8. The taxes levied under this ordinance are summarized as follows: PURPOSE RATE PEd General Fund of the City "x1.361 Other :•iunicipal Purposes Public Library .051. Police & Firemen's Pension Fund .05 Appointive Employees Pension Fund .03 Voted Bonds Sinking Fund for Retirement .14 Interest .15 School Purnoses Public Schools -Operating Fund 1.40 Public Schools -Building Fund .10 Paducah Junior College .06 Total tax rate per ,;100 on property subject to full tax rate X3.35 PURPOSE RATE PER ;;100 Special Levies for General Fund Stock of Banks and Trust Companies .20 Unmar_ufactured agricultural products .15 Special Levy for Public Schools -Operating Fund Stock of Banks and Trust Companies .1,0 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 provision, section, paragraph, sentence and part thereof, separately and independently of each other. SECTION 10. This ordinance shall be ire full force and effect from and after its adoption. Q i•i..Vor- - Passed by the Board of Commissioners March 2', 951 Recorded by Sarah Thurman, City Clerk, March 27T 1951.