HomeMy WebLinkAbout86-11-2933:1
ORDINANCE NO. 86-11--2921+
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, 1986 THROUGH JUNE 30, 1987, 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, 1986
through June 30, 1987, upon all taxable real property within the City of Paducah,
Kentucky, subject to taxation for municipal purposes, an ad valorem tax of Forty-
five and 3/10 cents ($0.453) upon each one hundred dollars ($100.00) assessed valua-
tion 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, 1986 through
June 30, 1987, upon all taxable personal property within the City of Paducah, Ken-
tucky, 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
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 3. There is hereby levied for said period an ad valorem tax of
Twenty-two and 2/10 ($0.222) 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.
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, 1986 through June 30, 1987.
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
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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 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 -tenth of one Cent ($0.006) to be deposited into a sinking 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 sinking 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 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 taxa-
tion 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 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 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 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 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,
1986 through June 30, 1987 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,
1986 through June 30, 1987 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.
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SECTION 13. 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 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, 1986 through June 30, 1987, an ad valorem tax of Forty -One and 9/10
($0.419) 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, 1986 through June 30, 1987, an ad valorem tax of Forty -One
and 9/10 Cents ($0.419) 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 Board of Education of the City of Paducah having also adopted a
resolution and budget levying a Special School Building Tax of Fourteen and 3/10 Cents ($0.143)
on each one hundred dollars ($100.00) of real property subject to local taxation in the City of
Paducah 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 which shall be collected by the City for
the Board of Education.
SECTION 16. The Board of Education of the City of Paducah having also adopted a
resolution and budget levying a Special School Building Tax of Fourteen and 3/10 Cents ($0.143)
on each one hundred dollars ($100.00) of personal property subject to local taxation in the
City of Paducah 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, im-
provement or building of schools and to accomplish any or all of such purposes which shall be
collected by the City for the Board of Education.
SECTION 17. The taxes levied under this ordinance are summarized as follows:
PURPOSE
General Fund of the City
Real Property
RATE PER $100.00
$0.453
Personal Property $0.490
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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
Voted Bonds:
Sinking Fund for Retirement
Real Property
$-04006
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
Total Tax Rate per $100 - personal":ptoperty $0--:603
Special Levies for General Fund:
Stocks of Banks and Trust Companies $0.222
SECTION 18. The City of Paducah shall collect the following taxes for the Board of
Education:
Public Schools - Operating Fund
Real Property $0.419
Personal Property $0.419
Public Schools - Special Building Fund
Real Property $0.143
Personal Property =
4-0:143
SECTION 19. 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'= j'' 1
separately and independent of each other. =
SECTION 20. Due to the urgency to prepare tax-bills'in•--a-timely manner, an emer
gency is hereby declared to exist and this ordinance shall be in full force and effect
immediately upon its passage at one reading.
JOE VITERISI
Mayor
Introduced and passed by the Board of Commissioners Nov. 52 1986
Recorded by Lenita Smith, City Clerk, November 5, 1986
Published by The Paducah Sun //-/ 6 - ly (o