89-09 O - Freeport Amendment i
ORDINANCE NO. 89-9
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PROSPER
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.
WHEREAS , Article VIII , Section 1-j , Subsection ( a ) of the
Texas Constitution and Section 11 . 251 of the Texas Property Tax
Code exempts from taxation certain tangible personal property
referred to 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 CITY COUNCIL OF THE
CITY OF PROSPER •
That the CITY OF PROSPER elects to tax that
tangible personal property described in Article VIII , Section
1-j , Subsection ( a) , Texas Constitution and Section 11 . 251 , Texas
Property Tax Code, which would otherwise be exempt.
PASSED AND APPROVED IN REGULAR MEETING BY THE CITY COUNCIL
OF THE CITY OF PROSPER on this 12th day of
DECFMBER , 1989 .
/ram.
'iAYOR
C)i'I'Y OF PROSPER
ATTEST:
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