LEGAL NOTICE
CITY OF GLASGOW
ORDINANCE NO. 2016-2887
ORDINANCE ESTABLISHING THE 2016 TAX
RATE FOR THE CITY OF GLASGOW
BE IT HEREBY ORDAINED by the City of Glasgow, Kentucky, as follows:
SECTION ONE: That there is hereby levied an ad valorem tax for the general fund of $.174 per $100.00 of assessed value on real property and $.174 per $100.00 of assessed value of personal property subject to taxation for municipal purposes and having taxable situs in the City of Glasgow, Kentucky, as of the 1st day of January, 2016, as listed in the Tax Assessment Ledger as compiled by the Barren County Property Valuation Administrator. SECTION TWO: All monies collected from this tax shall be paid into the general fund of the City to be used for payment of proper expenditures as determined by the Council.
SECTION THREE: It is further provided that all tax payers that may owe taxes under this levy shall pay same to the City Tax Collector on or before January 31, 2017. Any tax payer who pays his or her bill un- der this levy on or before November 30, 2016, shall be allowed a discount of two percent (2%) of the to- tal tax bill. Those paying on or before December 30, 2016, shall be allowed a discount of one percent (1%) of the total tax bill. It is further provided that to the tax bill of all tax payers who fail to pay same on or before January 31, 2017, there shall be added by way of penalty, an amount equal to six percent (6%) of the total tax bill and upon the total tax bill plus penalty, there shall be charged interest at the rate of six percent (6%) per annum from February 1, 2017, until paid and such delinquent tax payer shall also pay all costs and expenses incidental to any action taken by the City for all the collection of such delinquent tax bills.
SECTION FOUR: Delinquent taxes shall be collect able under the provisions of the Kentucky Revised Statutes relating to the collection of delinquent taxes by the City of the Third Class.
SECTION FIVE: If any part of this Ordinance shall be declared invalid for any reason, it shall not affect the remainder of said Ordinance. All Ordinances in conflict herewith are hereby repealed, to the extent that they may conflict.
SECTION SIX: The TVAGlasgow Electric Plant Board (GEPB) Agreement, dated June 25, 2015, executed by Mayor Doty, and purporting to permit the GEPB to secure a loan to its Broadband Division with a right to withhold its tax equivalent payments to the City of Glasgow should the Broadband Division default on the loan obligation is declared
null, void and of no legal effect with respect to the
City of Glasgow.
SECTION SEVEN: This Ordinance shall be in full force from and after its proper passage and publication as required by law.
/S/
Dick Doty, Mayor
ATTEST: Tommie S. Birge, City Clerk
First Reading: 09-23-16
Second Reading: 09-26-16