HomeMy WebLinkAboutOrdinance Book 18, Page 1054, Ordinance Number 75-11-1199105.4
ORDINANCE NO. 75-11-1199
AN ORDINANCE FIXING THE LEVIES AND RATES OF TAXATION ON ALL
PROPERTY IN THE CITY OF PADUCAII, KENTUCKY, SUBJECT TO TAXATION FOR
MUNICIPAL PURPOSES AND FOR SCHOOL PURPOSES FOR THE PERIOD FROM JULY 1,
1975 THROUGH JUNE 30, 1976, WITH THE PURPOSES OF SAID TAXES THEREUNDER
DEFINED
BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF
PADUCAII, KENTUCKY:
SECTION 1. There is hereby levied for the period from July 1, 1975
through June 30, 1976, upon all taxable property within the City of Paducah, Kentucky
real and personal, subject to taxation for municipal purposes, an ad valorem tax of
Forty-two and 74/100 cents ($0.4274) upon each one hundred dollars ($100.00)
assessed valuation of said property, pursuant to Section 157 of the State Constitution,
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 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 sam
tax is also hereby levied upon the shares of stock of National Banks doing business
within the City.
There is also levied for said period an ad valorem tax of One and 5/10 Cents
($0.015) upon each one hundred dollars ($100.00) of the fair cash value of unmanufactured
tobacco, and Four and 5/10 Cents ($0.045) upon each one hundred dollars ($100.00) of all
other unmanufactured agricultural products within said city subject to taxation for general
municiprd purposes.
SECTION 3. All taxer levied by Sections I nrd 2 of this ordinance are
necessary rind required in order to provide revenue to meet the requirements of the
apportionment ordinance adopted by the 13nard of Commissioners„ and the proceeds
of such tax levie and all other revenue of the City not apecifioally allocated to other
purposes shall Ue drpehited into the General Fund of the City to he expended its
provided in the apportionrzont ordinance far the pericai from July 1. 1975 through
June 30. 157fi.
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SECTION 4. There is also hereby levied for said period upon each one
hundred dollars ($100.00) assessed valuation of said taxable property a special ad
valorem tax of Two-tenths of One Cent ($0.0020) 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, 1975, as amended.
SECTION 5. There is also hereby levied for said period upon each one
hundred dollars ($100.00) assessed valuation of said taxable property an ad valorem
tax of Seven Cents ($0.07) to be paid into and become a part of the Kentucky Retirement
System, pursuant to the provisions of KRS 78.510 through KRS 78.991, and an ordinance
adopted by the Board of Commissioners on June 24, 1975.
There is also hereby levied for said period upon each one hundred dollars
($100.00) assessed valuation of said taxable property an ad valorem tax of Three and
13/100 Cents ($0.0313) to be deposited into a sinking fund for the purpose of paying and
retiring outstanding 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 Three and 93/100 Cents
($0.0393) to pay the interest on said outstanding unpaid voted bonds.
SECTION 6. There is also hereby levied for said period upon each one
hundred dollars ($100.00) assessed valuation of all real and personal property within
the city, subject to taxation for general municipal purposes, an ad valorem tax of
Five and 2/I0 Cents ($0.0520) for the purpose of maintaining and operating the Public
Library, pursuant to the provisions of KRS 173.360, and the proceeds of said tax levy
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shall be paid to the Board of Trustees of the Public Library.
SECTION 7. The Board of Education of the City of Paducah, pursuant to the
authority vested in it under it's charter and under the laws of the Commonwealth of
Kentucky, has adopted a resolution and budget requesting that the Board of Commissioners
of the City of Paducah levy an ad valorem tax on all property in said city subject to taxation
for school purposes. Pursuant to said resolution and budget there is hereby levied the
following taxes for the period from July 1, 1975 through June 30, 1976: An ad valorem
tax of Sixty-seven and 4/10 Cents ($O.C740) on ciroh one hundred dollars ($100.00) assessed
valuation of all real and personal property sul,ject to taxation for school purposes in the
City of Paducah for the support and maintenance of the public schools of said city,
and an ad valorem tax of Thirty-eight Cc.nts (50.38) on each one hundred dollars ($100.00)
of the fair rash value of all shares of stock of State ]tnnks and 'frust Companies incorporated
under the laws of this Commonwealth, and engaging in business in said city, and the same
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tax is also levied on the shares of stock of National Banks and Trust Companies doing
business in said city, which taxes so levied shall be for the support and maintenance
of the public schools of said city.
Said resolution pertaining to the aforesaid ad valorem tax of Sixty-seven and 4/10
Cents ($0.6740) per one hundred dollars ($100.00) of assessed valuation is in words
and figures as follows:
BE IT RESOLVED by the Board of Education of the
Paducah Independent School District, Paducah,
Kentucky, that there be imposed and levied by
the tax -levying authority of the City of Paducah,
the ad valorem tax of sixty-seven and four tenth
cents ($.674) on each $100.00 of assessment at fair
cash value of real and personal property and all
franchises in the Paducah Independent School Dis-
trict, subject to taxation for the 1975-76 fiscal
year, the same being necessary to be raised in
addition to all other funds to be received by the
Paducah Independent School District to support and
maintain the public schools of the Paducah Independent
School District.
BE IT FURTHER RESOLVED by the Board of Education
of the Paducah independent School District, Paducah,
Kentucky, that it request the tax levying authority
of the City of Paducah to levy the maximum rate
allowed by law on shares of banks and trust companies,
some being thirty-eight cents (384) on each $100.00 of
fair cash value of said shares.
SECTION 8. The Board of Education of the City of Paducah having also
adopted a resolution and budget requesting the levy of a Special School Building Tax
of Eighteen and 4/10 Cents ($0.1840) on each one hundred dollars ($100.00) of property
subject to local taxation in the City of Paducah, there is hereby further levied a special
school building tax of Eighteen and 4/10 Cents ($0.1840) on each one hundred dollars
(5100.00) of property subject to taxation for school purposes in said city for the period
from July 1, 1975 through .lune 30, 1976 for the purpose of providing for the purchase
or lease of rchoul sites and buildings, for the erection and complete equipping of new school
buildings, for the major alterations, enlargement and complete equipping of existing
huildini(a. 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 acquisitinn, improvement or building of schools and to
accomplish any or all of such purposes.
SF:C TION 0. There is hereby further levied an ad valorem tax of Thrcc and
7/10 Cents (50.0370) on each nne hundred dollars: ($100.00) of unsessed vahmtiou of till
r,:r+l and perv;nal property subject to taxatian for school purposes in said City for the
periftd from July i, 1575 through June 30, 1976 for the purpo,se of aiding, uasisting
and maintaWng the. Paducah Community Collvgto, which tax shall he and thf- sano is
hereby declared to be a tax for sehrx 1 purpoeer,.
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SECTION 10. The taxes levied under this ordinance are summarized as follows:
PURPOSE
General Fund of the
Other Municipal Purposes
Public Library
Appointive Employees' Pension Fund
Kentucky Retirement System
Voted Bonds
Sinking Fund for Retirement
Interest
SCHOOL PURPOSES
Public Schools - Operating Fund
Public Schools - Special School Building Tax
Paducah Community College
Total Tax Rate per $100.00 on property subject to full tax rate
Special Levies for General Fund
Stocks of Banks and Trust Companies
Unmanufactures tobacco products
Other unmanufactured agricultural products
Special Levy for Public Schools - Outing Fund
Stocks of Banks and Trust Companies
RATE PER $100.00
$0.4274
$0.0520
$0.0020
$0.0700
$0.0313
$0.0393
$0.6740
$0.1840
$0.0370
$1.5170
$0.190
$0.015
$0.045
$0.38
SECTION 11. 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,
00 sentence and part thereof separately and independent of each other.
SECTION 12. This ordinance shall be in full force and effect from and
after the date of its adoption.
r
Mayor
Passed by the Pnard of Commissionera Uoven her 18, 1975
Recorded by Sarah Thurman, City Clerk, November 18, 1975,