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HomeMy WebLinkAbout82-12-2338472 ORDINANCE NO. 82-12-2338 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, 1982 THROUGH JUNE 30, 1983, 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, 1982 through June 30, 1983, upon all taxable real property within the City of Paducah, Kentucky, subject to taxation for municipal purposes, an ad valorem tax of Forty-four and 4/10 cents ($0.444) 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, 1982 through June 30, 1983, upon all taxable personal property within the City of Paducah, Ken- tucky, subject to taxation for municipal purposes, an ad valorem tax of Forty-four and 4/10 cents ($0.444) 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 a cumulative tax for the period from July 1, 1982 through June 30, 1983, upon all taxable personal property within the City of Paducah, Kentucky, subject to taxation for municipal purposes, an ad valorem tax of four and 6/10 cents ($0.046) 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 4. There is hereby levied for said period 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. SECTION 5. All taxes levied by Sections 1, 2, 3 and 4 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 473 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, 1982 through June 30, 1983. SECTION 6. 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 7. 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 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 8. 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 9. 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 -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 10. 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 Four and 4/10 Cents ($0.044) 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. 474 SECTION 11. 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 Four and 4/10 Cents ($0.044) 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 12.- There is also hereby levied a cumulative tax 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 Three tenths of a cent C$0.003) 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 13. 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, 1982 through June 30, 1983 for the purpose of aiding, assisting and maintaining Paducah Community College, which tax shall be and the same is hereby declared to be a tax for school -purposes. SECTION 14. 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 personal property subject to taxation for school purposes in said City for the period from July 1, 1982 through June 30, 1983 for the purpose of aiding, assisting and maintaining Paducah Community College, which tax shall be and the same is hereby declared to be a tax for school purposes. SECTION 15. There is hereby further levied a cumulative ad valorem tax of Two tenthsof a cent ($0.002) 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, 1982 through June 30, 1983 for the purpose of aiding, assisting and maintaining Paducah Community College, which tax shall be and the same is hereby declared to be a tax for school purposes. SECTION 16. 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,-1982 through June -30 1983, an ad valorem tax of_Thirty-£our and 6/10 Cents($0.346) 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. 475 SECTION 17. 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, 1982 through June 30, 1983, an ad valorem tax of Forty-one and 4/10 Cents ($0.414) 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 18. The Board of Education of the City of Paducah having also adopted a resolution and budget levying a Special School Building Tax of Eleven and 8/10 Cents C$0.118) 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 19. 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 2/10 Cents C$0.142) on each one hundred dollars C$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 com- plete equipping of existing buildings, for the purpose of retiring, directly or through rental payments school revenue bonds issued for such school building improve- ments 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 Ey the City for the Board of Education. SECTION 20. The taxes levied under this ordinance are summarized as follows: PURPOSE General Fund of the City Real Property RATE PER $100.00 $0.444 Personal Property $0.444 476 Other Municipal Purposes: Public Library Real Estate $0.044 Personal Property $0.044 Appointive Employees' Pension Fund Real Estate $0.015 Personal Property $0.015 Voted Bonds: Sinking Fund for Retirement Real Property $0.006 Personal Property $0.006 Interest Real Property $0.008 Personal Property $0.008 SCHOOL PURPOSES: Paducah Community College Real Estate $0.032 Personal Property $0.032 Total Tax Rate per $100 - real property $0.549 Total Tax Rate per $100 - personal property $0.549 Special Levies for General Fund: Stocks of Banks and Trust Companies $0.190 SECTION 21. These taxes shall be a Cumulative Tax on personal property only, and summarized as follows: PURPOSE RATE PER $100.00 General Fund of the City $0.046 Other Municipal Purposes: Public Library $0.003 SCHOOL PURPOSES: Paducah Community College $0.002 Total Cumulative Tax Rate per $100.00 on personal property $0.051 SECTION 22. The City of Paducah shall collect the following taxes for the Board of Education: Public Schools - Operating Fund Real Property $0.346 Personal Property $0.414 Public Schools - Special Building Fund Real Propery $0..118 Personal Property $0.142. 477 SECTION 23. The provisions of this ordinance are severable. If any provision, section, paragraph, sentence or part thereof shall be held uncon- stitutional 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 24. Due to the assessments being late and the necessity for the City to borrow money, an emergency is hereby declared to exist and this ordinance shall be in full force and effect immediately upon its passage at one reading. JOHN K. PENROD Mayor Introduced and passed by the Board of Commissioners December 22, 1982 Recorded by Louise McKinney, City Clerk, December 22, 1982 Published by The Paducah Sun January 4, 1983.