HomeMy WebLinkAbout641 08-26-1980ORDINANCE NO. 641
AN ORDINANCE ADOPTING THE OFFICIAL BUDGET FOR THE
CITY OF EULESS FOR THE FISCAL YEAR BEGINNING OCTOBER
1, 1980, AND ENDING SEPTEMBER 30, 1981; PROVIDING
FOR THE INVESTMENTS OF FUNDS; PROVIDING FOR
PUBLICATION; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on July 22, 1980, the City Council held a public
hearing on its proposed budget for the fiscal year beginning October
1, 1980, and ending September 30, 1981, and
WHEREAS, all citizens and interested persons were given an
opportunity to be heard regarding the proposed budget, and
WHEREAS, the proposed budget was on file in the office of the
City Secretary of the City of Euless, available to the citizens
and the public for their inspection, and
WHEREAS, due notice of such hearing on the budget was duly
published, and
WHEREAS, at the conclusion of such hearing, it was determined
that such budget should be adopted.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF EULESS, TEXAS:
SECTION I
That the official budget for the City of Euless for the fiscal
year beginning October 1, 1980, and ending September 30, 1981, be,
and the same is hereby adopted by the Euless City Council and the
Euless City Secretary is directed to keep and maintain a copy of
such official budget on file in the office of the City Secretary
available for inspection by citizens and the general public.
SECTION II
That there shall be and there is hereby levied the following
taxes on each one hundred dollars ($100.00) valuation on all
taxable property within the City of Euless, Texas, to be assessed
and collected by the Tax Assessor and Collector for the year, and
collected for the purposes hereinafter stipulated, to -wit:
(a) For the General Fund levied $0.5400
on the $100.00 valuation
(b) For the Interest and Sinking
Fund levied on the $100.00
valuation 0.1600
Total levy
SECTION III
$0.7000
That all funds so appropriated and allocated shall be expended
and used pursuant to the provisions of such official budget and the
Euless City Manager shall be directed to appropriate and expend
city funds accordingly. That the City Manager may transfer an
unneeded surplus in the amount budgeted for one account to another
activity in which a deficiency exists. That is and when in the
judgment of the City Manager, actual or probable receipts are less
than the amount estimated and herein appropriated for expenditures,
the City Manager shall forthwith effect a like reduction in the
expenditures of the several departments.
SECTION IV
The City Manager is authorized from time to time, as he may deem
to be in the best interest of the City of Euless, to invest city
funds not immediately required for current use, including operating
funds and bond funds, in United States Treasury Bills or in Certifi-
cates of Deposit and Savings Accounts in Official City Depositories.
All interest earned and accrued from investments shall be deposited
in the General Fund.
PRESENTED AND GIVEN FIRST READING at a regular meeting of the
Euless City Council on the 9th day of August, 1980; GIVEN SECOND
READING, PASSED AND APPROVED at a regular meeting of the Euless
City Council on the 26th day of August, 1980, by a vote of 5
ayes, 0 nays, and 0 abstentions.
APPROVED:
;9�
ATTEST: Mayor
City Secretary
3 APPROV S TO FORM:
City Att rney
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