10-079 O - Adopting 2010 Property Tax Rate 11®
p TOWN OF
SPER
ORDINANCE NO. 10-079
AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS LEVYING TAXES FOR FISCAL
YEAR BEGINNING OCTOBER 1, 2010 AND ENDING SEPTEMBER 30, 2011 AT THE RATE
OF $0.52 PER ONE HUNDRED DOLLARS ($100.00) ASSESSED VALUE ON ALL TAXABLE
PROPERTY WITHIN THE CORPORATE LIMITS OF THE TOWN OF PROSPER, TEXAS IN
ACCORDANCE WITH EXISTING STATUTORY REQUIREMENTS AND PROVIDING FOR
THE PUBLICATION OF THE CAPTION HEREOF ON THE TOWN'S HOME PAGE OF ITS
WEBSITE.
WHEREAS, the Town Council of the Town of Prosper, Texas (hereinafter referred to as the
"Town") hereby finds that the tax for the fiscal year beginning October 1, 2010, and ending September
30, 2011, hereinafter levied for current expenditures of the Town and the general improvements of the
Town and its property must be levied to provide revenue requirements for the budget for the ensuing year;
and
WHEREAS,the Town Council has approved, by separate ordinance to be adopted on the 14th day
of September, 2010, the budget for the fiscal year beginning October 1, 2010 and ending September 30,
2011; and
WHEREAS, all statutory and constitutional requirements concerning the levying and
assessing of ad valorem taxes have been complied with.
NOW THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, COLLIN COUNTY, TEXAS:
SECTION 1: Findings Incorporated. The findings set forth above are incorporated into the
body of this Ordinance as if fully set forth herein.
SECTION 2: do plipri of"lax este. We the Town Council of the Town of Prosper do hereby
levy or adopt the tax rate of$0.52000 per$100 valuation for the Town for tax year 2010-2011 as follows:
$0.334742 for the purpose of maintenance and operation and
$0.185258 for payment of principal and interest on debt service.
THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE
AND OPERATIONS THAN LAST YEAR'S TAX RATE.
This Tax Rate Is Less Than The Effective Tax Rate. The Total Tax Rate
Will Effectively Be Lowered By 1.33%. Taxes For Maintenance And
Operations Will Be Effectively Lowered By 6.69%.
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SECTION 3: Pt e of "ay���uGtt� ,ollectiog. The Tax Assessor-Collector for Collin County is
hereby authorized to assess and collect the taxes of the Town of Prosper in accordance with this
ordinance. The Town shall have all rights and remedies provided by the law for the enforcement of the
collection of taxes levied under this ordinance.
SECTION 4: Savings" Retaealin"C gj _�!z. All provisions of any ordinance in conflict with this
Ordinance are hereby repealed; but such repeal shall not abate any pending prosecution for violation of
the repealed Ordinance, nor shall the repeal prevent prosecution from being commenced for any violation
if occurring prior to the repeal of the Ordinance. Any remaining portions of conflicting ordinances shall
remain in full force and effect.
SECTION 5: ey"e ITl aI"Jty. Should any section, subsection, sentence, clause or phrase of this
Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is expressly
provided that any and all remaining portions of this Ordinance shall remain in full force and effect.
Prosper hereby declares that it would have passed this Ordinance, and each section, subsection, sentence,
clause, or phrase thereof irrespective of the fact that any one or more sections, subsections, sentences,
clauses,or phrases be declared unconstitutional or invalid.
SECTION 6: SECTION 7: Effective Date. This Ordinance shall become effective from and
required
byy law.after its adoption and publication as ..... aw.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS ON THIS 14'h DAY OF SEPTEMBER, 2010 AT A MEETING WHICH WAS
HELD IN STRICT ACCORDANCE WITH THE TEXAS OPEN MEETING ACT.
X
RAY SMI I'll,Mayor
0� '� t
im
.�l�TES
TTI D.DENTON, TRMC � m ��t"rte 0
Town Secretary
w
Date of Publication 90 it s ,o Jlltr� t9 t ire p ti,u' ."
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