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Ordinance No. 10,964ORDINANCE NO. 10,964 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS, PROPOSING TO INCREASE TOTAL TAX REVENUES FROM PROPERTY ON THE TAX ROLL IN THE PRECEDING TAX YEAR BY 4.4 PERCENT; SETTING DATES, TIMES AND PLACES FOR TWO PUBLIC HEARINGS ON A PROPOSAL TO INCREASE TOTAL TAX REVENUES FROM PROPERTIES ON THE TAX ROLL IN THE PRECEDING TAX YEAR BY 4.4 PERCENT; SETTING THE MEETING AT WHICH THE CITY COUNCIL WILL VOTE ON THE PROPOSED TAX RATE; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. WHEREAS, Section 26.05 of the Texas Tax Code requires the City Council to consider and vote on proposing to increase the total tax revenues when the proposed rate exceeds the lower of the roll back rate or the effective tax rate; and WHEREAS, the effective tax rate has been calculated to be $0.75384 per $100.00 valuation and the proposed tax rate is $0.78703 per $100.00 valuation; and WHEREAS, due to the increased certified and uncertified appraised values of property within the City and the increased tax rate necessary for debt service on the General Obligation Bonds, the proposed tax rate exceeds the effective tax rate by 4.4 percent; and WHEREAS, the City Council of the City of Baytown, Texas, may not adopt the proposed tax rate that exceeds the effective tax rate until the City Council holds two public hearings on the proposed tax rate and complies with Section 26.06 and Section 26.065 of the Texas Tax Code; NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS: Section 1: That all matters and facts set forth in the recitals hereinabove are found to be true by the City Council of the City of Baytown, Texas. Section 2: That the City Council of the City of Baytown, Texas, hereby proposes to increase total tax revenues from property on the tax roll in the preceding tax year by 4.4 percent. Section 3: On the 2nd day of October, 2008, at 5:00 p.m., in the City Hall Council Chambers of the City of Baytown, 2401 Market Street, Baytown, Texas, the City Council will hold its first public hearing on a proposal to increase total tax revenues from properties on the tax roll in the preceding tax year by 4.4 percent to afford adequate opportunity for proponents and opponents of the tax increase to present their views. Section 4: On the 9th day of October, 2008, at 6:45 p.m., in the City Hall Council Chambers of the City of Baytown, 2401 Market Street, Baytown, Texas, the City Council will hold its second public hearing on a proposal to increase total tax revenues from properties on the tax roll in the preceding tax year by 4.4 percent to afford adequate opportunity for proponents and opponents of the tax increase to present their views. Section 5: The City Clerk of the City of Baytown is hereby authorized and directed to cause notice of such public hearings: a. to be published in a newspaper of general circulation in the City in accordance with Section 26.06 of the Texas Tax Code; b. to be posted on the City's website in accordance with Sections 26.06 and 26.065 of the Texas Tax Code; and c. to be broadcast on its municipal cable channel in accordance with Section 26.065 of the Texas Tax Code. Section 6: At its meeting to be held at 6:30 p.m. on the 23rd day of October, 2008, in the Council Chambers of the City Hall of the City of Bay town, located at 2401 Market Street, Baytown, Texas, the City Council will vote on the proposed tax rate. Section 7: After each hearing, the City Clerk of the City of Baytown is hereby authorized and directed to cause notice of the meeting at which it will vote on the proposed tax rate to be published in accordance with Section 26.06 of the Texas Tax Code. Section 8: This ordinance shall take effect immediately from and after its passage by the City Council of the City of Baytown. INTRODUCED, READ and PASSED by the affirmative vote of the City Council of the City of Baytown this the 22nd day of September, 2008. AirXEST: KAY/THlfE DARNELL, City Clerk APPROVED AS TO FORM: RAMIREZ, SR., Cit££ttorney SJEPHEftTTDONCARLOS, Mayor \\cobsrvl\Legal\Karen\Files\Cily Council\Ordinancus\2008\S(;ptemLier22\SetlJubIicI-It;aring08-09TaxRate.doc