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HomeMy WebLinkAboutOrdinances Book 16, Page 66, No Ordinance Number66 AN ORDINANCE FIXING THE LEVY AND RATE OF TAXATION ON ALL PROPERTY OF PUBLIC SERVICE COMPANIES IN THE CITY OF PADUCAH, KENTUCKY SUBJECT TO TAXATION FOR MUNICIPAL PURPOSES AND FOR SCHOOL PURPOSES FOR THE YEAR 1966, 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 1966 upon all property of public service companies in the city of Paducah, Kentucky, real and personal, operating and non-operating, subject to taxation for municipal purposes, and ad valorem tax of $1.39 upon each one hundred dollars ($100.00) assessed valuation of said property, which is 35% of actual fair cash value, pursuant to Section 157 of the State Constitution, to defrav the cost of maintaininP and administering the government of the City of Paducah for the year 1966, 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. All taxes levied by Section 1 of this ordinance are necessary and required in order to provide the amount of revenue pro- vided for in Section 136.080 (1) (a) of the Kentucky Revised Statutes to meet the requirements of the 1966 apportionment and reapportion- ment ordinances 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 1966 apportionment and reapportionment ordinances and/or to discharge the indebtedness in- curred by the City of Paducah for funds borrowed for said purposes pursuant to an ordinance adopted by the Board of Commissioners on December 27, 1966 and recorded in Ordinance Book 15, page 1216, against which indebtedness was pledged anticipated taxes levied by said Section 1. SECTION 3. There is also hereby levied for the year 1966 upon each one hundred dollars($100.00) of the aforesaid 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, 19L7,'as amended. There is'also hereby levied for the year 1966 upon each one hundred dollars ($100.00) of the aforesaid assessed valuation of said taxable property an ad valorem tax of Four Cents (.04) to be deposited into a sinking fund for the purpose of paving and retiring outstanding bonds which have been voted by the people of the City of Paducah, and there is likewise levied for the year 1966 upon each one hundred dollars ($100.00) assessed valuation of said taxable property an ad 67 valorem tax of Two Cents (.02) to pay the interest on said outstand- ing unpaid voted bonds. SECTION 4. There is also hereby levied for the ,year 1966 upon each one hundred dollars ($100.00) of the aforesaid assessed valuation of said taxable property a special ad valorem tax of Eight Cents (.0$) for the purpose of maintaining and operating the Public Library pur- suant 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 5. The Board of Education of the City of Paducah, pur- suant to the authority vested in it under its charter and 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 said taxable property for school purposes. Pursuant to said resolution and budget there is hereby levied the following taxes for the year 1966: An ad valorem tax of One Dollar and Sixty-six cents ($1.66) upon each one hundred dollars ($100.00) of the aforesaid assessed valuation of said taxable 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 one dollar and sixty-six cents ($1.66) per one hundred dollars ($100.00) of the aforesaid assessed valuation of said taxable property is in words and figures as follows: "RESOLUTION "The Kentucky Department of Revenue and the State Department of Education having certified the assess- ment of franchise paying taxpayers of the district and the State Department of Education having cal- culated a rate for the year 1966, be it therefore resolved: 1. That there be imposed and levied by the tax levying authority of the City of Paducah the ad valorem tax of $1.66 on each $100.00 of franchise assessment (100% of fair cash value reduced to fractional ratio of 35%) in the Paducah Independent School District, subject to taxation for the year.1966-, the same being necessary to be raised in addition to all other funds to be received by the Paducah Independent School Dis- trict to support and maintain the public schools of the Paducah Independent School District. Included in the total rate of $1.66 for each $100.00 of said assessed valuation is the 10% increase in revenue as authorized by KRS, Chapter 160 as amended by the 1965 First Extra Session effective December 15, 1965. 2. That there be imposed and levied by the tax levying authority of the City of Paducah, the ad valorem tax of $.52 on each $100.00 of the aforesaid franchise assessment in the'Paducah Independent School District, subject to taxation for the year 1966 the same being necessary for the Special School Building fund as voted at an election held November 6, 1951 pursuant to KRS 160.4.77. 3. All other levied previously made for the year 1966 are hereby ratified and conformed." 68 SECTION 6. The Board of Education of the City of Paducah having also incorporated in their resolution and budget a request for the levy of a Special School Building Tax of Fiftv-two Cents (.52) on each .one hundred dollars ($100.00) of the aforesaid assessed valuation of said taxable,property subject to taxation for school purposes in the City of Paducah, there is.hereby further levied a Special School Build- ing.Tax of Fifty-two Cents (.52) on .each one hundred dollars ($100.00) of the aforesaid assessed valuation of said .taxable property subject to taxation for school purposes in the City of Paducah for the year 1966 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 major alterations, enlargement and complete.equip- ping of existing buildings, for. the. purpose of retiring, directly or through rental pavments, 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 7. There is herebv further levied an ad valorem tax of Fourteen Cents (.14) on each one hundred dollars ($100.00) of the aforesaid assessed valuation of said taxable property subject to taxation for school purposes in said City for the ,year 1966 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 $. The taxes levied under this ordinance on all property of public service companies in the City of Paducah, Kentucky subject to taxation for municipal and'school purposes for the year 1966 are summarized as follows: PURPOSE General Fund of the City Other Municipal Pur oses Public Library Appointive Employees''Pension Fund Voted Bonds, Sinking Fund -for Retirement Interest BCHOOL PURPOSES Public Schools -Operating Fund Public Schools -Special School Bldg. Tax Paducah Junior College Total Tax Rate per $100 on the aforesaid assessed valuation of property subject to full tax rate RATE PER $100.00 $1.39 .08 .03 .04 .02 1.66 .52 .14 $3.8$ SECTION 9. The provisions of this ordinance are severable. If M 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 10. This ordinance shall be in full force and effect from and after its adoption. Mayor Passed by the Board of Commissioners March 7, 1967 Recorded by Sarah Thurman, City Clerk, March 7, 1967.