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HomeMy WebLinkAboutOrdinances Book 14, Page 694, No Ordinance Number69 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 YEAR 1962, 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 year 1962, upon all taxable property within the City of Paducah, Kentucky, real and personal, subject to taxation for municipal purposes, an ad valorem tax of one dollar and thirty-nine cents ($1.39) 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 1962, and to cover the estimated cost of maintaining and operating the departments and agencies of said Government pursuant to the 1962 budget prepared and submitted to the Board of Commissioners and the 1962 apportionment ordinance adopted by the Board of Com- missioners, 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 the year 1962 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 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 the year 1962 an ad valorem tax of Five Cents (.05) upon each One Hundred Dollars ($100.00) of the fair cash value of unmanufactured tobacco, and Fifteen Cents (.15) 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 1962 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 1962 apportionment ordinance. 695 SECTION 4. There is also hereby levied for the year 1962 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 set apart for the purposes defined in KRS 90.400 and the City Civil Service Ordinance adopted on December 2, 19472 as amended. There is also hereby levied for the year 1962 upon each One Hundred Dollars ($100.00) assessed valuation of said taxable property an ad valorem tax of Eight Cents (.0$) to be deposited into a sinking fund for the purpose of paying and retiring outstanding bonds which have been voted by the people of the City of Paducah, and there is likewise levied for the year 1962 upon each One Hundred Dollars ($100.00) assessed valuation of said taxable property an ad valorem tax of Five Cente (.05) to pay the inetrest on said outstanding unpaid voted bonds. SECTION 5. There is also hereby levied for the year 1962 upon each One Hundred Dollars ($100.00) assessed valuation of all real and personal property within the city=, subject to taxation for general municipal purposes, an ad valorem tax of Eight Cents (.0$) 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 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 Commonwealth of Kentucky, has adopted a resolution and budger 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 1962; an ad valorem tax of One Dollat and ;Fifty Cents ($1.50) 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, and an ad valorem tax of Forty Cents (.40) on each One Hundred Dollars ($100.00) of the fair cash value of all shares of stock of State Banks and Trust Companies incorporated under the laws of this Commonwealth, and en- gaging 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 sb.-levied shall be for the support and maintenance of the public schools of said citv. I 696 / The aforesaid resolution and budget adopted by the Board of Education of the City of Paducah, Kentucky requested the levy of a poll tax of $2.00 on all male citizens in its district twenty-one years of age and over not to exceed sixty-five years of age. Pursuant to such request there is hereby levied for the uee and benefit of the Board of Education of the Paducah Independent School District for the year 1962 a poll tax of $2.00 on each male inhabitant within the City of Paducah over twenty-one years of age who is not exempt by law from the payment of poll tax. SECTION 7. 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 Fifty Cents (.50) 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 Fifty Cents (.50) on each One Hundred Dollars ($100.00) of property subject to taxation for school purposes in said city for the year 1962 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, enlargement 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 g. There is hereby further levied an ad valorem tax of Seven Cents (.07) 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 year 1962, for the purpose of aiding, assisting and maintaining the Paducah Junior College, which tax shall be and the same is hereby declared to be a tax for school purposes. SECTION 9. The taxes levied under this ordinance are summarized as follows: PURPOSE RATE PER $100.00 General Fund of the City $1.39 Other Municipal Purposes Public Library .0$ Appointive Employees' Pension Fund .03 Voted Bonds Sinking Fund for Retirement .0$ Interest .05 SCHOOL PURPOSES Public Schools -Operating Fund 1.50 697 Public Schools -Special School Building Tax .50 Paducah Junior College .07 Total Tax Rate per $100 on property subject to full tax rate $3.70 Special Levies for General Fund Stocks of Banks and Trust Companies .20 Unmanufactured tobacco products .05 Other unmanufactured agricultural products .15 Special Levy for Public Schools -Operating Fund Stocks of Banks and Trust Companies .4.0 Poll Tax for Schools: $2.00 for each male resident over 21 and under 65 years of age. SECTION 10. 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 independently of each other. SECTION 11. This ordinance shall be in full force and effect from and after its adoption. Mayor Passed by the Board of Commissioners March 13, 1962 Recorded by Sarah Thurman, City Clerk, March 13, 1962.