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HomeMy WebLinkAboutOrdinance Book 18, Page 867, Ordinance Number 75-4-111086677 , Y ORDINANCE NO. 75-4-1110 AN ORDINANCE FIXING THE LEVIES AND RATES OF TAXATION ON ALL PROPERTY IN THE CITY OF PADUCAH, KENTUCKY, SUBJECT TO TAXATION FOR 00 MUNICIPAL PURPOSES AND FOR SCHOOL PURPOSES FOR THE PERIOD FROM JANUARY 1, 1975 THROUGH JUNE 30, 1975, 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 period from January 1, 1975 through June 30, 1975, upon all taxable property within the City of Paducah, Kentucky, real and personal, subject to taxation for municipal purposes, an ad valorem tax of Twenty-three and 7/10 cents ($0.2370) 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 said period, 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 said period an ad valorem tax of Nine and 1/2 cents ($0.095) 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 said period an ad valorem tax of Three-fourths of One cent ($0.0075) upon each one hundred dollars ($100.00) of the fair cash value of unmanufactored tobacco, and Two and 1/4 Cents ($0.0225) upon each one hundred dollars I ($100.00) of all other unmanufactured agricultural products within said city subject to Itaxation for general municipal purposes. SECTION 3. All taxes levied by Sections 1 and 2 of this ordinance tire i necessary and required in order to provide revenue to meet the requirements of the 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 provider) in the apportionment ordinance for the period from January 1, 1975 through June 30, 1975. SECT1O`: 4. 'here is also hereby levied for said period upon each one hundred dollars ($100.00) assessed valuation of said taxable property a special ad i I 868 valorem lax of One Cent ($0.01) 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 said period upon each one hundred dollars ($100.00) assessed valuation of said taxable property an ad valorem tax of One and 7/10 Cents ($0.0170) 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 said period upon each one hundred dollars ($100.00) assessed I valuation of said taxable property an ad valorem tax of Two and 1/10 Cents ($0.0210) to pay the interest on said outstanding unpaid voted bonds. SECTION 5. There is also hereby levied for said period 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 Two and 6/10 Cents ($0.0260) 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 it's 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 period from January 1, 1975 through June 30, 1975, an ad valorem tax of Thirty-three and 1/4 Cents ($0.3325) 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 Nineteen C,,nts ($0.19) 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 engaging in business in said city, and the same I tax is also levied on the shares of stock of National Ranks and Trust Companies doing; business in said city, which taxes so levied shall be for the ,uphort and maintenance of the public schools of said city. I Said resolution pertaining to the aforesaid ad valorem tax of Thirty three and 1/4 Cents ($0.3325) per one hundred dollars ($100.00) of assessed valuation is in words aI:d fig_rt:res as fWlows: 869 "BE IT RESOLVED by the Board of Education of the Paducah Independent School District, Paducah, Kentucky, that there be imposed and levied by the tax -levying authority of the City of Paducah, the ad valorem tax of thirty-three and one fourth cents ($.3325) for a six (6) months period (January 1, 1975 through June 30, 1975) on each $100 of assessment at fair cash value of real and personal property and all franchises in the Paducah Independent School District, subject to taxation for January 1, 1975 through June 30, 1975, 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 for the period of time January 1, 1975 through June 30, 1975." SECTION 7. The Board of Education of the City of Paducah having also d a resolution and budget requesting the levy of a Special School Building Tax and 2/10 Cents ($0.0920) on each one hundred dollars ($100.00) of property t to local taxation in the City of Paducah, there is hereby further levied a special building tax of Nine and 2/10 Cents ($0.0920) on each one hundred dollars 00) of property subject to taxation for school purposes in said city for the period xnuary 1, 1975 through June 30, 1975 for the purpose of providing for the purchase e of school sites and buildings, for the erection and complete equipping of new school tgs, for the major alterations, enlargement and complete equipping of existing igs, for the purpose of retiring, directly or through rental payments, school e bonds issued for such school building improvements and for the purpose of ng any program for the acquisition, improvement or building of schools and to lish any or all of such purposes. SECTION 8. There is hereby further levied an ad valorem tax of One and Cents ($0.0185) 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 period from January 1. 1975 through June 30, 1975 for the purpose of aiding, 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 tnxes levied under this ordinance are summarized as follows: 870 PURPOSE RATE PER $100.00 (6 Months Period) General Fund of the City $0,2370 Other Municipal Purposes Public Library .0260 Appointive Employees' Pension Fund .0100 Voted Bonds Sinking Fund for Retirement .0170 Interest .0210 SCHOOL PURPOSES Public Schools - Operating Fund .3325 Public Schools -Special School Building Tax .0920 Paducah Community College .0185 Total Tax Pate per $100 on property subject to full tax rate $0.7540 Special Levies for General Fund Stocks of Banks and Trust Companies .095 Unmanufactured tobacco products .0075 Other unmanufactured agricultural products .0225 Special Levy for Public Schools - Operating Fund Stocks of Banks and Trust Companies .190 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 independent of each other. SECTION 11. This ordinance shall be in full force and effect from and after its adoption. Mayrn— Passed by the Board of Commissioners April 8, 1975 Recorded by Sarah Thurman, City Clerk, April 8, 1975.