86-23 O - Approval of Tax Rate for Tax Rate 1986 ORDINANCE NO. 86-23
1111,0 AN ORDINANCE ESTABLISHING A TAX RATE FOR THE CURRENT
TAX YEAR; PROVIDING FOR NOTICE OF SUCH RATE; AND TO
PROVIDE FOR AN EFFECTIVE DATE.
WHEREAS, the governing body of each taxing unit is required
to establish a tax rate for the current tax year as soon as is
practicable after the first day of September; and
WHEREAS, such rate must be adopted by ordinance; and
WHEREAS, no public hearing is required if the rate to be
adopted does not exceed the rate calculated under the provisions
of Section 26. 04, Vernon' s Ann. Tax Code by more than three (3)
percent; and
WHEREAS, the tax rate hereinafter adopted does not exceed
the rate calculated under the provisions of Section 26. 04, Vernon ' s
Ann. Tax Code by more than three (3) percent;
NOW, THEREFORE, IT IS HEREBY ORDAINED BY THE CITY COUNCIL OF
THE CITY OF PROSPER, TEXAS:
SECTION 1 . The City Council of the City of Prosper, Texas,
hereby adopts and establishes as the tax rate for the tax year
commencing in 1986 the rate of . 283 per $100. 00 valuation.
SECTION 2. The City Secretary is hereby directed to notify
the appropriate tax assessor of the rate hereby adopted.
SECTION 3 . This ordinance shall become effective immediately
upon its adoption and the publication of the title hereof one
time in a newspaper of general circulation within the City of
Prosper, Texas .
PASSED AND APPROVED THIS THE 16th DAY OF SEPTEMBER, 1986.
JOHN COCKRELL, MAYOR
NDA GRUMBLE , CITY SECRETARY
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