90-04 O - Taxation of Freeport Goods ORDINANCE NO.
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PROSPEk
TO EXERCISE ITS OPTION TO TAX THAT PROPERTY EXEMPTED UNDER
SECTION 11 . 251 , TEXAS PROPERTY TAX CODE AND ARTICLE VIII , SECTION
1—J , TEXAS CONSTITUTION.
WHEREI:S , Article VZIb , Section 1--j , Subsection ( a ) of the
;. ,xas Constitution and Section 11 . 251 of the Texas Property Tax
Cade exempts from taxation, certain tangible personal property
referred �Lc as "freeport goods" unless the governing body of the
taxing authority elects to tax said property; and
WHEREAS , the exemption of said "freeport goods" from
taxation by the CITY OF PROSPER would result in the loss
of needed revenues to the city and an unfair shift of the tax
burden to the homeowner and local businessman; and
WHEREAS , Article VIII , Section 1—j , Subsection ( b) of the
Texas Constitution authorizes the City Council of the City of
PROSPER to exercise its option to tax said " freeport
goods " .
NOW THEREFORE, BE IT ORDAINED BY THE CI'T'Y COUNCIL OF THE
• CITY OF s': Ca:,PE-1
That tl, e CITY OF PROSP!,R elects to tax that
tangible personas, property described in Article VJI , Section.,
1-j , Subsection ( a ) , Texas Constitution and Se::tion 11 . 251 , Texas
Property q!'e.x Code , which would otherwise be exearwat .
PASSEL AND APPROVED IN REGULAR MEETING BY THE CITY COUNCIL
OF THE CiTy OF PRO SE=LF � on this 13th (Jay of
MAYOR-' -
CIT.)r OF PROSPER
ATTEST:
•