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HomeMy WebLinkAboutOrdinances Book 10, Page 200, No Ordinance NumberPage 200 AN ORDINANCE FIXING THE LEVIES A=7D RATES OF TAXATION OF ALL PROPERTY IDI T -1E CITY OF PADUCAH, KENTUCKY, SUBJECT TO TAXATION FOR '.MUNICIPAL PURPOSES AIM FOR SCHOOL PURPOSES FOR THE -YEAR OF 1940, AND THE RATE OF POLL TAX WITH THE PURPOSE OF SAID TAXES THEREUNDER DEFINED. BE IT ORDAINED BY THE BOARD OF CO"OMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1. There is hereby levied for the year 1940, upon all I taxable property within the City of Paducah, Kentucky, real and personal, subject to taxation for municipal purposes, and ad - valorem tax on One and 49100 (Id1.49) Dollars, upon each One Hundred (�100.00) Dollars of valuation of taxable property ins said city, pursuant to Section 157 of the State Constitution ! to defray the cost of maintaining and administering the Gover nnen-, of the City of Paducah for fe.e year 1940, and to cover the estimated cost of maintaining and operating the departments and agencies of said Government pursuant to the annual budget to be prepared and submitted to the Board of Commissioners by the City (Manager, for approval by the Board of Commissioners,e xclusive however, i of the levies hereinafter mentioned and defined. There is also l hereby levied a Doll tax of One and 50100 (?1.50) Dollars on eac la I male resident of the City of Paducah over 21 years of age for the I year 1940. There is also hereby* levied upon each One Hundred (t -100.0.Q) Dollars valuation of taxable property in said city, a special 'tar. of Two (.02) Cents to be paid into and become a part of the Pol=xe and Firemen's Pension Fund, and which fund shall be j segregated and set apart in a separate fund in the City Treasury j, and shall be held subject to and for the purposes defined, in ji Sections 3142-1-19 Kentucky Statutes.. There is hereby levied �Ifor the year 1940 on all taxable property within said City I isubject to taxation for municipal purposes, an ad valorem tax of i Seventeen (.17) Cents upon each One Hundred (n100.00) Dollars of i 11 valuation of taxable property to create a sinking fund for the purpose of paying and retiring outstanding bonds, including bonds IIissued by the City of Paducah for school purposes, which have been! voted by the people of the City of Paducah, and there is likewise I� hereby levied for said year an ad valorem tax of Twenty-four (.24)1 Page 201 Cents on each One Hundred (y100.00) Dollars of valuation of taxable property in said city, to pay the interest on said out- standing unpaid voted bonds, and all of which bonds have been approved by vote of the people of said city. The rate of taxation for the estimated expenditures of each department of the City Government, and for such other purposes as are deemed to be necessary for the proper maintenance and administering thereof, and with the amount appropriated for each of said departments and purposes shall be set apart and stated in the bidget and apportionment which shall be adopted and provided for by the Board of Commissioners, and set out in said Apportionment Ordinance; and the amount of levies provided in this. ordinance are necessary and required in order to provide the revenue adequate t:; meet the requirements of said Approtionment Ordinance. SECTION 2. There is hereby levied for the year 1940, a tax of Twenty (20 Cents on each One Hundred (";'100.00) Dollars if the fair cash value upon all the chares of stock of State Banks and Trust Companies incorporated under the laws of this Commonwealth, and engaged in business in the City of Paducah, Kentucky, and a like tax upon all the shares of stock of National Banks doing business in said ci ty. And there is further levied a tax of fifteen (.15) cents on i each One Hundred (;100.00) Dollars of the fair cash value of all unmanufactured agricultural products subject to taxation within said city for general municipal purposes, and all of said taxes provided for in this section, are levied and to be collected for I! the year 1940 and to be used for general municipal purposes. SECTION 3. All revenues derived from licenses and from other sources collected and paid into the City 'Treasury, for eneral municipal purposes, shall be distributed to their respective accounts in the same proportions as ad valoremt axes herein provided for, except revenues and the sources thereof which have not been considered in making up the Apportionment Ord nance and in the event of the collection of any other revenues or receipts of other incomd which was not considered in making up the apportionment ordinance same shall be credited to t he general fund. Page 202 SECTION 4. The Board of Education of the City of Paducah, pursuant to authority vested in it under its Charter, and under the lavas of the Sate of Kentucky, have adopted a resolution requesting therein that the Board of Commissioners of the City of Paducah shall levy an ad valorem tax on all property ins aid City for school purposes,(and also an ad valorem tax upon such property for sinking fund purposes. Torr, pursuant to said resolution, and it appearing to the satisfaction of the Board of Commissioners, that it is i necessary to make the levies for school purposes as hereinafter set out, there is hereby levied for the year 1940 upon all the taxable property subject to taxation for school purposes within said city, an ad valorem tax of Cne (P.1.00) Dollar on each One Hundred (1,100.00) Dollars of valuation of real and personal I' property in the City of Paducah, for the support and maintenance of public schools in said city, less the estimated sum to be received from the State Common School Funds and from other sources; and there is hereby further levied a tax of (.40) Cents on each One Hundred (',100.00) bbollars of the fair cash value upon all the shares of Stock of State Banks and Trust Companies, incorporated under the laws off this Commonwealth, and engaged in business in the City of Paducah, Kentucky, and also on National Banks doing busincs,s in said City for the year 1940, and which tax so levied shall be for the support and maintenance of public schools of said city. There is also hereby levied and imposed an ad valorem tax of Tree (.03) Cents on each One Hundred 0100.00) Dollars of Valuation of real and personal property in the City of Paducah, subject to taxation for the year 1940, for the support and maintenance of the Teachers Retirement System, as a part of the taxes and additions to such taxes for public school purposes. 'sere is hereby further levied and imposed a tax of Five (.05) Centls on each One Hundred ( 100.00) Dollars of valuation of all real and personal property in the City of Paducah, subject to taxation for the year 1940, pursuant to an ordinance adopted by the Board of Commissioners of said city on the 27th day of January, 1936, for the purpose of aiding, assisting and maintaining the Paducah Junior College, and which tax shall be and the same is hereby declared to be a tax for school purposes. i SECTION 5. The total ad valorem taxes levied under this i ordinance are as follows: i i Page 203 For all City Purposes, exclusive of Sinking Fund . . . . . :;".1.49 For Police and Firemen's Pension Fund . . . . . . . . . . .02 For General School Purposes . . . . . . . . . . . . . . . 1.00 For Sinking Fund on Voted Bonds, including Bonds issued for School purposes . . . . . . . . . . . . . .17 For Interest on voted bonds . . . . . . . . . . . . . . . .24 For Teachers Retirement System .)3 For Paducah Junior College . . . . . . . . . . . . . . . . .05 Total of said levies . . . . . . . . . . . . . . . . . $3.00 Total Levies on Banks and Trust Companies' Stock for City purposes .20 Total Levies on Bank and Trust Companies' Stock for School purposes . . . . . . . . . . . . . . . .40 Total Levies on Unmanufactured Agricultural Products for city purposes . . . . . . . . . . . . . . .15 SECTION 6. This ordinance shall take effect from and after its adoption. Mayor Passed by the Board of Commissioners, March 19, 1940 Recorded by Rudy Stewart, City Clerk, March 20, 1940.