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AN ORDINANCE TO AMEND AND RE-ENACT ORDINANCE NO. 1985-39, AS <br />AMENDED AND RE-ENACTED BY ORDINANCES NO. 1986-44, 1987-37, <br />1988-38, AND 1989-33, IMPOSING AND LEVYING TAXES FOR EACH <br />FISCAL YEAR BEGINNING JULY 1ST AND ENDING JUNEI30TH, UNLESS <br />OTHERWISE CHANGED BY COUNCIL, ON REAL ESTATE, TANGIBLE <br />PERSONAL PROPERTY, PRIVATELY OWNED PLEASURE BOATS AND <br />MACHINERY AND TOOLS WITHIN THE CITY OF PORTSMOUTH, VIRGINIA, <br />FOR THE PURPOSE OF RAISING REVENUE FOR THE SUPPORT OF <br />GOVERNMENTAL OPERATIONS AND THE PUBLIC FREE SCHOOLS AND TO PAY <br />PRINCIPAL AND INTEREST ON THE PUBLIC DEBT. <br /> <br /> BE IT ORDAINED by.the Council o~ the City of Portsmouth, <br />Virginia: <br /> <br /> 1. That Ordinance No. 1985-39, as amended and <br />re-enacted by Ordinances No. 1986-44, 1987-37, 1988-38, and <br />1989-33, 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 person property, privately owned pleasure boats and <br />machinery and tools within the City of Portsmouth, Virginia, <br />for the purpose of raising revenue for the support of <br />governmental operations and the public free schools and to pay <br />principal and interest on the public debt. <br /> <br /> 2. That Paragraph 2 of Ordinance No. 1985-39 as amended <br />and re-enacted by Ordinances No. 1986-44, 1987-37, 1988-38, <br />and 1989-33, is amended and reordained to read as follows: <br /> <br />Tax on Real Estate: <br /> <br />(a) Other than public service corporations:~ <br /> <br /> The tax on real estate for the City of Portsmouth, <br />Virginia, exclusive of public service corporations shall be <br />one dollars and thirty-two cents ($1.32) on each one hundred <br />dollars ($100.00) assessed valuation thereof. <br /> <br />(b) Public service corporations: <br /> <br /> The tax on real estate of public service corporations <br />shall be one dollar and thirty-two cents ($1.32) on each one <br />hundred dollars ($100.00) assessed valuation thereof. <br /> <br /> 3. That Paragraph 3(b) of Ordinance 1985-39, as amended <br />and re-enacted by Ordinances No. 1986-44, 1987-37, 1988-38, <br />and 1989-33, is amended and reordained to read as follows: <br /> <br /> <br />