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ORDINANCE NO. ~$$q~.,, <br />AN ORDINANCE CONCERNING AD VALOREM TAXATIQN IN <br />THE DowNTOwN DEVELOPMENT DISTRICT; AMENDING <br />SECTION 3.760 OF THE EUGENE CODE, 1971, AND <br />DECLARING AN EMERGENCY. <br />THE CITY of EUGENE DQES ORDAIN AS FQLLOwS: <br />Section 1. Subsection ~m~ of Section 3.760 of the Eugene Code, <br />1971, is hereby amended to provide: <br />3.760 Ad Valorem Taxation in Downtown Develo ment District - <br />Apportionment. The director of finance shall apportion <br />as follows a special ad valorem tax levied for a fiscal year on <br />the ownership of real, property in the Downtown Development Dis- <br />trict: <br />~m~ The tax for which the owner of a parcel is <br />liable on the basis of the computations prescribed by <br />this section shall be due and payable on the follow- <br />ing dates: one-third on November 15 of the fiscal <br />year for which the tax is levied, one-third on Febru- <br />ary 15 of that fiscal year, and one-third on May l5 <br />of that fiscal year.. A discount of three percent <br />shall be allowed if the total tax for the year is <br />paid prior to November 16 of that year. Any pardon <br />of the tax not paid within 30 days of the date when <br />it becomes due under this schedule 5ha11 bear interest <br />at the rate of one percent per month until the portion <br />is paid. <br />Section 2. That the matters captained herein concern the <br />public welfare and safety, and in order to insure the orderly im- <br />plementation of the revised payment schedules and notification to <br />those affected hereby, an emergency is hereby declared to exist, <br />and this ordinance shall became e~ffecti~re immediately upon it <br />passage by the City Council and approval by the Mayor. <br />Passed by the City Council this <br />Approved by the Mayor this <br />S <br />18th day of November, 1981 <br />~~~~~ ~~ <br />City Recorder <br />of Novemb r, 1981 <br />~~~~~. <br />Ma o <br />ordinance. <br />