Following is the text from the City of Indian Hills Ordinance No. 04-05:

CITY OF INDIAN HILLS
Ordinance No. 04-05

AN ORDINANCE RELATING TO THE LEVY OF AD VALOREM TAXES FOR THE CITY PURPOSES FOR FISCAL YEAR ENDING JUNE 30, 2005.

WHEREAS, there has been deposited with the City Clerk the Jefferson County Property Valuation Administartion assessment for all taxable real estate located within the City , and

WHEREAS, the City has computed its tax rate as required by law, now, therefore,

BE IT ORDAINED BY THE CITY OF INDIAN HILLS:

Section 1. The City of Indian Hills does hereby elect to use the Jefferson County Property Valuation Administration tax assessment of all real estate located in the City as of January 1,2004 as the basis for ad valorem taxes for the City for the fiscal year ending June 30, 2005.

Section 2. An ad valorem tax for the fiscal year of the City ending June 30, 2005, is hereby levied and fixed at the rate of twenty cents (20¢) on each $100 of all real estate assessed for taxation and subject to taxation by said City under assessment date of January 1, 2004, as made by the Jefferson County Property Valuation Administrator.

Section 3. The payment of tax bills shall be made to the City Treasurer and shall be subject to the discounts and penalties listed below and the collection remedies provided by law:

A. A discount of 7.5% of the face amount of the bill shall be allowed if the tax is paid on or before December 31, 2004;

B. The face amount of the bill shall be payable during January, 2005;

C. In the event any owner fails to pay the taxes assessed against him prior to February 1, 2005, there is hereby levied as a penalty an amount equal to ten (10%) percent of the tax payable plus interest from February 1, 2005, until paid at the rate of One and One-Half (1-1/2%) percent per month or part thereof, compounded monthly, or $10.00 if the penalty and interest is less than that amount.

D. All delinquent tax collection expenses incurred by the City, including lien filing and release fees, attomey's fees of not less than 25%, and cost of initiating legal action, shall be deemed a penalty in addition to that specified in Subsection (C.) above and shall be encompassed within the City's lien.

Section 4.. The proceeds of such taxes, penalties and interest are to be placed in the general fund of the City of Indian Hills and are to be used for the general operating purposes and expenses of the City such as the purchase of City supplies, purchase and maintenance of City property, street repair, garbage collection, police protection, and all other necessary and proper municipal functions as may be properly ordained or resolved by the City Council.

Section 5. This Ordinance shall take effect from and after its passage, signing and publication aa required by law.

First Reading held May 20, 2004; Second Reading, Passed and approved June 17, 2004. Second Reading. Passed and approved June 17, 2003.

/s/ Thomas O. Eifler, Sr.
Thomas O. Eifler, Sr., Mayor

ATTEST:

/s/ Betty P. Guelich
Betty P. Guelich, City Clerk