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HomeMy WebLinkAboutOrdinances Book 17, Page 515, Ordinance Number 71-4-451515 ORDINANCE NO. 71-4-451 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 1971,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 1971, upon all taxable property within the City of Paducah, Kentucky, real and personal, subject to taxation for municipal purposes, an ad valorem tax of Forth -six and 9/10 Cents ($0.469) 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 1971, 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 1971 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 the year 1971 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 unmanu- factured 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 1971 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 1971 apportionment ordinance. 516 SECTION 4. There is also hereby levied for the year 1971 upon each One Hundred Dollars ($100.00) assessed valuation of said taxable property a special ad valorem tax of One and 1/10 Cents ($0.011) 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 1971 upon each one hundred dollars ($100.00) assessed valuation of said taxable property an ad valorem tax of Four and 7/10 Cents ($0.047) 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 1971 upon each one hundred dollars ($100.00) assessed valuation of said taxable property an ad valorem tax of Five and 5/10 Cents ($0.055) to pay the interest on said outstanding unpaid voted bonds. SECTION 5. There is also hereby levied for the year 1971 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 Six Cents ($0.060) 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 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 1971; an ad valorem tax Of Sixty-three Cents ($0.630) 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 Thirty=eight Cents ($0.38) on each one hundred dollars ($100.00) of the fair cash value of ajl 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 517 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 of said city. The aforesaid resolution and budget adopted by the Board of Education of the City of Paducah, Kentucky, requested a levy of a poli 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 use and benefit of the Board of Education of the Paducah Independent School District for the year 1971 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. Said resolution pertaining to the aforesaid ad valorem tax of Sixty-three Cents ($0.630) per one hundred dollars ($100.00) of assessed valuation is in words and figures as follows: "BE IT RESOLVED by the Board of Education of the Paducah Independent School District, Paducah, Kentucky, that there be imposed and levied by the tax -levying authority of the City of Paducah, the ad valorem tax of sixty-three cents ($0.63) 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 year 1971, 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 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 Seventeen and 7/10 Cents ($0.177) 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 Seventeen and 7/10 Cents ($0.177) on each one hundred dollars ($100.00) of property subject to taxation for school purposes in said city for the year 1971 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 518 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 8. There is hereby further levied an ad valorem tax of Three and 7/10 cents ($0.037 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 1971 for the purpose of aid- ing, 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 9. The taxes levied under this ordinance are summarized as follows: PURPOSE RATE PER $100.00 General Fund of the City $0.469 Other Municipal Purposes Public Library .060 Appointive Employees' Pension Fund .011 Voted Bonds Sinking Fund for Retirement .047 Interest .055 SCHOOL PURPOSES Public Schools - Operating Fund .630 Public Schools - Special School Building Tax .177 Paducah Community College .037 Total Tax Rate per $100 on property subject to full tax rate $1.486 Special Levies for General Fund Stocks of Banks and Trust Companies .19 Unmanufactured tobacco products .015 Other ummnaufactured agricultural products .045 Special Levy for Public Schools - Operating Fund Stock of Banks and Trust Companies .38 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. 519 If any provision, section, paragraph, sentence or part thereof shall be held unconstitutional orminvalid, 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 11. This ordinance shall be in full force and effect from and after its adoption. Mayor i Passed by the Board of Commissioners April 20, 1971 Recorded by Sarah Thurman, City Clerk, April 20, 1971.