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BILL NO. 38/7 ORDINANCE NO. (p5 81' AN ORDINANCE ORDERING THE LEVY AND FIXING THE RATE OF TAXES TO BE COLLECTED IN THE CITY OF UNIVERSITY CITY FOR THE FISCAL YEAR 2005-2006 TO PROVIDE FOR GENERAL REVENUE, TO PROVIDE FOR THE ESTABLISHMENT AND MAINTENANCE OF A FREE PUBLIC LIBRARY AND READING ROOM, AND TO PROVIDE FOR THE PAYMENT OF INTEREST AND THE ESTABLISHMENT OF A DEBT SERVICE FUND FOR ALL OUTSTANDING BONDS OF THE CITY; AND CONTAINING AN EMERGENCY CLAUSE. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. There is hereby levied upon all real, personal and other property subject to taxation in the City of University City, Missouri, for general revenue purposes of said City for the fiscal year 2005-2006, a tax of $.573 for residential, $.664 for commercial, and $.691 for personal property per each ONE HUNDRED DOLLARS ($100.00) of assessed valuation. Section 2. There is hereby levied upon all real, personal and other property subject to taxation in the City of University City, Missouri, a special tax at the rate of $.249 for residential, $.283 for commercial, and $.301 for personal property, per each ONE HUNDRED DOLLARS ($100.00) of assessed valuation, for the fiscal year 2005-2006, to provide for the establishment and maintenance of a free public library and reading room in said City, authorized by vote of the qualified voters of said City at a special election heretofore held, in accordance with the laws of the State of Missouri, and the ordinance pertaining thereto. Section 3. There is hereby levied upon all real, personal and other property subject to taxation in the City of University City for the fiscal year 2005-2006, a special tax at the rate of $.023 per ONE HUNDRED DOLLARS ($100.00) of assessed valuation, to provide for the payment of interest and the establishment of a Debt Service fund for all issued and outstanding bonds of an authorized issue of TWO MILLION DOLLARS ($2,000,000.00) of municipal bonds of the City authorized by a vote of the qualified voters of said City at an election called and held on the 2nd day of November, 2004, said election being in pursuance of the provisions of Ordinance No. 6497. Section 4. An emergency is hereby declared to exist in that the tax rate must be fixed not later than September 1, 2005 pursuant to Section 67.110 RSMo.