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AN OP~DINANCE TO AMEND AND RE-ENACT ORDINANCE NO. 1985-39, AS
<br />AMENDED AND RE-ENACTED BY OP~DINANCES NO. 1986-44, 1987-37,
<br />1988-38, 1989-33, 1990-30, 1991-35, 1991-110, 1992-28, 1993-25
<br />1993-43, 1994-35 AND 1995-48, IMPOSING AND LEVYING TAXES FOR
<br />EACH FISCAL YEAR BEGINNING JULY 1ST AND ENDING 07JNE 30TH,
<br />UNLESS OTHERWISE CHANGED BY COUNCIL, ON REAL ESTATE, TANGIBLE
<br />PERSONAL PROPERTY, PRIVATELY OWNED PLEASURE BOATS, PRIVATELY
<br />OWNED CAMPING TRAILERS AND MOTOR HOMES, AND MACHINERY AND TOOLS
<br />WITHIN THE CITY OF PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF
<br />RAISING REVENUE FOR THE SUPPORT OF GOVERNMENTAL OPERATIONS AND
<br />THE PUBLIC FREE SCHOOLS AND TO PAY PRINCIPAL AND INTEREST ON
<br />THE PUBLIC DEBT.
<br />
<br /> BE IT ORDAINED by the Council of the City of Portsmouth,
<br />Virginia:
<br />
<br /> 1. That Ordinance No. 1985-39, as amended and re-enacted
<br />by Ordinances No. 1986-44, 1987-37, 1988-38, 1989-33, 1990-30,
<br />1991-35, 1991-110, 1992-28, 1~93-25, 1993-43, 1994-35 and
<br />1995-48, is re-enacted as amended herein, imposing and levying
<br />taxes for each fiscal year beginning July 1st and ending June
<br />30th, unless otherwise changed by Council, on real estate,
<br />tangible personal properny, privately owned pleasure boats,
<br />privately owned camping trailers and monor homes, and machinery
<br />and tools within the City of Portsmouth, Virginia, for the
<br />purpose of raising revenue for the support of governmental
<br />operations and the public free schools and to pay princmpal and
<br />interesu on the public debt.
<br />
<br /> 2. That Paragraph 4 of Ordinance No. 1985-39, as amended
<br />and re-enacted by Ordinances No. 1986-44, 1987-37, 1988-38,
<br />1989-33, 1990-30, 1991-35, 1991-110, 1992-28, 1993-25, 1993-43,
<br />1994-35 and 1995-48, is amended and reordained no read as
<br />follows:
<br />
<br />Tax on Machinery and Tools:
<br />
<br /> The nax on machinery and tools used in a manufacturing,
<br />mining, processing or reprocessing, radio or television
<br />broadcasting, dairy, dry cleaning or laundry business in the
<br />City of Portsmouth, Virginia, shall be $2.75 on each one
<br />hundred dollars assessed valuation thereof.
<br />
<br />4. This ordinance shall take effect as of July 1, 1996.
<br />
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