Laserfiche WebLink
<br /> ESTIMATED OVERLAPPING FUNDED DEBT PAYABLE FRON AD VALOREM TAXES <br /> (as of 1-31-85) <br /> Total Estimated % Overlapping <br /> Taxing Jurisdiction Funded Debt Applicable Funded Debt <br /> City of San Marcos 510.717.000 100.00% 510.717.000 <br /> San Marcos Con$olidated Independent <br /> School District 13.469,000* 71.42% 9.619,560 <br /> Hays County -0- 33.23% -0- <br /> Upper San Marcos Watershed Reclamation <br /> and Flood Control District 1.775.000 75.48% 1.339.770 <br /> Total Overlapping Funded Debt $21.676.330 <br /> Ratio Overlapping Funded Debt to Net Taxable Assessed Valuation----------------------- 4.76% <br /> Per Capita Overlapping Funded Debt - $650.06 <br /> * Includes $a.500.000 issue sold February 4, 1985. <br /> TAX RATE LIMITATION <br /> All taxable property within the City is subject to the assessment, levy and collection by the <br /> Ci ty of a conti nui ng, di rect annual ad va 1 orem tax suffi ci ent to provi de for the payment of <br /> principal of and interest on the Bonds within the limits prescribed by law. Article XI. Section <br /> 5, of the Texas Constitution is applicable to the City, and limits the maximum ad valorem tax <br /> rate to $2.50 per $100 Assessed Valuation for all City purposes. The Charter of the City also <br /> limits its tax rate to $2.50 per $100 Assessed Valuation ... for all City purposes. Under <br /> rules promulgated by the Office of the Attorney General of Texas. such Office will not approve <br /> tax bonds of the City unless the City can demonstrate its ability to pay debt service require- <br /> ments on all outstanding City tax bonds. including the issue to be approved. from a tax levy <br /> of $1.50 per $100 of valuation. based on 90% collection of the tax. <br /> -9- <br />