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Home My WebLink About91-10-467914 ORDINANCE NO. 91-10-4679 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 PERIOD FROM JULY 1, 1991, THROUGH JUNE 30, 1992, WITH THE PURPOSES OF SAID TAXES THEREUNDER DEFINED BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY: SECTION 1. There is hereby levied for the period from July 1, 1991, through June 30, 1992, upon all taxable real property within the City of Paducah, Kentucky, subject to taxation for mu- nicipal purposes, an ad valorem tax of Forty-five and 8/10 cents ($0.458) 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 the period from July 1, 1991, through June 30, 1992, upon all taxable personal property within the City of Paducah, Kentucky, subject to taxation for municipal purposes, an ad valorem tax of Forty-nine cents ($0.490) 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 main- taining 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 3. There is hereby levied for said period an ad valorem tax of Twenty-one ($0.21) Cents upon each one hundred dollars ($100.00) of the taxable 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. 15 SECTION 4. All taxes levied by Sections 1, 2, and 3 of this ordinance are necessary and required in order to provide revenue to meet the requirements of the budget 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 budget ordinance for the period from July 1, 1991, through June 30, 1992. SECTION 5. There is also hereby levied for said period upon each one hundred dollars ($100.00) assessed valuation of said taxable real property a special ad valorem tax of One and 5/10 Cents ($0.015) 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. SECTION 6. There is also hereby levied for said period .upon each one hundred dollars ($100.00) assessed valuation of said taxable personal property a special ad valorem tax of One and 5/10 Cents__ ($0.015) to be paid into and to become a part of the Appointive Em- ployees' 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. SECTION 7. There is also hereby levied for said period upon each one hundred dollars ($100.00) assessed valuation of said taxable real property an ad valorem tax of Six -tenths of one Cent ($0.006) to be deposited into a debt service fund for the purpose of paying and retiring 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 valuation of said taxable property an ad valorem tax of Eight -tenths of one Cent ($0.008) to pay the interest on said outstanding unpaid voted bonds. SECTION 8. There is also hereby levied for said period upon each one hundred dollars ($100.00) assessed valuation of said taxable personal property an ad valorem tax of Six -tenths of one Cent ($0.006) to be deposited into a debt service fund for the purpose of paying and 16 retiring 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 valuation of said taxable property an ad valorem tax of Eight -tenths of one Cent ($0.008) to pay the interest on said outstanding unpaid voted bonds. SECTION 9. There is also hereby levied for said period upon each one hundred dollars ($100.00) assessed valuation of all real property within the city, subject to taxation for general municipal purposes, an ad valorem tax of Five Cents ($0.050) for the purpose of maintaining and operating the Public Library, pursuant to the provi- sions of KRS 173.360, and the proceeds of said tax levy shall be paid to the Board of Trustees of the Public Library. SECTION 10. There is also hereby levied for said period upon each one hundred dollars ($100.00) assessed valuation of all personal property within the city, subject to taxation for general municipal purposes, an ad valorem tax of Five Cents ($0.050) for the purpose of maintaining and operating the Public Library, pursuant to the provi- sions of KRS 173.360, and the proceeds of said tax levy shall be paid to the Board of Trustees of the Public Library. SECTION 11. There is hereby further levied an ad valorem tax of Three and 2/10 Cents ($0.032) on each one hundred dollars ($100.00) of assessed valuation of all real property subject to taxation for school purposes in said City for the period from July 1, 1991, through June 30, 1992, for the purpose of aiding, assisting and maintaining Paducah Junior College, which tax shall be and the same is hereby declared to be a tax for school purposes. SECTION 12. There is hereby further levied an ad valorem tax of Three and 4/10 Cents ($0.034) on each one hundred dollars ($100.00) of assessed valuation of all personal property subject to taxation for school purposes in said City for the period from July 1, 1991, through 1 June 30, 1992, for the purpose of aiding, assisting and maintaining Paducah Junior College, which tax shall be and the same is hereby declared to be a tax for school purposes. SECTION 13. The Board of Education of the City of Paducah, pursuant to the authority vested in it under its charter and under the 17 laws of the Commonwealth of Kentucky, has adopted a resolution and budget levying an ad valorem tax on all real property in said city subject to taxation for school purposes. Pursuant to said resolution, budget and levy the following taxes for the period from July 1, 1991, through June 30, 1992, an ad valorem tax of Fifty-nine and 1/10 ($0.591) Cents on each one hundred dollars ($100.00) assessed valuation of all real property subject to taxation for school purposes in the City of Paducah for the support and maintenance of the public schools of said City shall be collected by the City for the Board of Education. SECTION 14. 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 levying an ad valorem tax on all personal property in said city subject to taxation for school purposes. Pursuant to said resolution, budget and levy the following taxes for the period from July 1, 1991, through June 30, 1992, an ad valorem tax of Fifty-nine and 1/10 Cents ($0.591) on each one hundred dollars ($100.00) assessed valuation of all 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 shall be collected by the City for the Board of Education. SECTION 15. The taxes levied under this ordinance are summarized as follows: PURPOSE RATE PER $100.00 General Fund of the City Real Property $0.458 Personal Property $0.490 Other Municipal Purposes: Public Library Real Estate $0.050 Personal Property $0.050 Appointive Employees' Pension Fund Real Estate $0.015 Personal Property $0.015 18 Voted Bonds: Debt Service Fund for Retirement Real Property $0.006 Personal Property $0.006 Interest Real Property $0.008 Personal Property $0.008 SCHOOL PURPOSES: Paducah Junior College Real Estate $0.032 Personal Property $0.034 Total Tax Rate per $100 - real property $0.569 Total Tax Rate per $100 - personal property $0.603 Special Levies for General Fund: Stocks of Banks and Trust Companies $0.21 SECTION 16. The City of Paducah shall collect the following taxes for the Board of Education: Public Schools - General Fund & FSPK Property Real Property $0.591 Personal Property $0.591 SECTION 17. 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 18. Property taxes levied herein shall be due and payable in the following manner: The first half payment shall be due on October 1, 1991, and shall be payable without penalty and interest until Octo- ber 31, 1991. The second half payment shall be due on April 1, 1992, and shall be payable without penalty and interest until April 30, 1992. 19 SECTION 19. This ordinance shall be read on two separate days and will become effective upon publication pursuant to KRS Chapter 424. GERRY B. MONTGOMERY Mayor Introduced by the Board of Commissioners September 24, 1991 Adopted by the Board of Commissioners October 1, 1991 Recorded by Lenita Smith, City Clerk, October 1, 1991 Published by The Paducah Sun ORDNCE/Tax Rate (D J J