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HomeMy WebLinkAboutOrdinances Book 10, Page 726, No Ordinance Number726 I AN ORDINANCE FIXING THE LEVIES AND RATES OF TAXATION ON ALL PROPERTY IN THE CITY OF PADUCAH, KENTUCKY, SUBJECT TO TAXATION FOR MUNICIPAL PURPOSES ARID FOR S CHOOL,PURPOSES FOR THE YEAR 1942, AND THE RATE OF POLL TAX WITH THE PURPOSES OF SAID TAXES THEREUNDER DEFINED. it BE IT ORDAINED BY THE BOARD OF C0131I.33IONERS OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1. I There is hereby levied for the year 1942, upon all taxable property within the City of Paducah, Kentucky, real and personal, subject to taxation for municibal purposes, an ad- valurum tax of One and 43/100 (,51.43) Dollars, upon each One Hundred ($100.00) Dollars of valuation of taxable property in said city, pursuant to Section 157 of the State Constitution to defray the cost of maintaining and administering the Government .i of the City of Paducah for the year 1942, and to cover the estimated cost of maintaining and operating the mdpartments 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, exclusive, however, of the levied hereinafter mentioned and defined. There is also hereby levied a poll tax of one and 50/100 ($1.50) 1'ollars on each I male resident of the City of Paducah over 21 years of age for the year 1942. There is also hereby levied upon each One Hundred 'I (yp100.00) Dollars valuation of taxable property in said city, a special tax o f Three (.03) Cents to be paid into and become a part of the Police and Viremen's Pension Fund, and which fund shall be segregated and set apart in a separate fund in the City Treasury and shall be held subject to and for the purposes defined, in Sections 3142-1-19 Kentucky Statutes. There is hereby levied for the year 1942 on all taxable property within said city, subject to taxation for municipal purposes, an ad valorem tax of i Twenty-three (.23) Cents upon each one hundred ($100; Dollars of valuation of taxable property to create a sinking fund for the purposes of paying and retiring outstanding bonds, including bonds' issued by the City of Paducah for school purposes, which have been' voted by the people of the City of Paducah, and there is likewise hereby levied for said year an ad valorem tax os Seventeen (.17) Cents on each One Hundred ("N100) Dollars of valuation of taxable property In said city, to pay the interest on said outstanding unpaid voted bonds, and all of which bonds have been approved by vote of the people of said city. 727 The rate of taxation for the estimated expenditures of each department of the City Government, and for auch other purposes as � are deemed to be necessary for the proper maintenance and I administering thereof, and with the amount appropriated for each of said departments and purposes shall be set apart and stated I - in the budget 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 to meet the requirements of said apportionment] ;ordinance. SECTION 2. There is hereby levied for the year 1942, a tax of Twenty (.20) Cents on each One Hundred (5}100.00) Dollars of the fair case value upon all the shares 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 City. And there is further levied a tax of fifteen (.15) cents on each one hundred (7100.00) Lollars of the fair cash value of all 'Junmanufactured 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 1942 and to be used for general municipal purposes. SECTION 3. All revenues derived from licenses and from all other sources collected and paid into the City Treasury, for general ? l municipal 'purposes shall be distributed to their respective accounts ! in the same proportions as ad valorem taxes herein provided for, except !I 'revenues and the sources thereof which have not been considered in making up the Apportionment Ordinance and in the event of the collection of any other revenues or receipts of other income which was not considered in making up the apportionment ordinance, same shall be credited to the general fund. SECTION 4. The Board of Education of the Cit of Paducah Y pursuant to ! authority vested in it under its Charter, and under the laws of the ' State of Kentucky, have adopted a resolution requdsting therein that the Board of Commissioners of the City of Paducah shall levy an ad valorem tax on all property in said City for school purposes. I 'low, pursuant to said resolution, and it appearing to the satisfaction 728 ,I of the Board of Commissioners, that it is necessary to make the levied ,for school purposes as hereinafter set out, there is hereby levied for the year 1942 upon all the taxable property subject to taxation for sch- ool purposes within said city, an ad valorem tax of Ninety-seven (.97) i Cents on each One IIundred ($100) Dollars of valuation of real and ipersonal property in the City of Paducah, for the support and maintenance I' l,of public schools in said city, less the estimates sum to be re - i ceived from the State Common School Funds and from other sources; I !and there is hereby further levied a tax of Forty 0.40) Cents on each I One Hundred ($100.00) Dollars of the fair cash value upon all the shares r ,of Stock of State Banks and Trust Companies, incorporated under the I (laws of this Commonwealth, and engaged in business in the City of Paducah, Kentucky and also on National Banks doing business in said city !for the year 1942, and which tax so levied shall be for the support I' Land maintenance of public schools of said city. There is hereby ,further levied and imposed a tax of Five (.05) cents on each one hundred ($100) Dollars of valuation of all real and personal property "lin the City of Paducah, subjeft to taxation for the year 1942, pimsuant r to an ordinance adopted by the hoard of Commissioners of said city on l the 27th day of January, 1936, for the purpose of aiding, assisting i ,and maintaining the Paducah Junior College, and which tax shall be Mand the same is hereby declared to be a tax for school purposes. SECTION 5. The total ad valorem taxes levied under this ordinance are 'las follows: j;For all City purposes, exclusive of sinking fund . . . . . . . 1.43 For police and Firemen's Pension Fund .03 ii For General School purposes . . . . . . . . . . . . . . . . . .97 Sinking Fund on Voted Bonds, including school bonds .23 6For IIFor Interest on Voted Bonds, including school bonds .17 For Paducah Junior College . . . . . . . . . . . . . . . . . .05 Total of said levies . 2.88 Total Levies on Banks and Trust Companies' Stock for City Purposes . . . . . . . . . . . . . . . .. .20 Total levies on Banks and Trust Companyls Stock for school purposes .. .40 Il Total levies on unmanufactured agricultural Products for city purposes . . . . . . . . . . . . . . . .15 SECTION 6. i This ordinance shall take effect from and after its adoption. j Mayor Passed by the Board of Commissioners, April W th, 1942 ao Recorded by Rucy Stewart, City Clerk, April 0 th, 1942.