09112006 Special Meeting - Laserfiche WebLink

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Special Meeting September 11, 2006 Page 2 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING ON OCTOBER 1, 2006 ANDI ENDING ON SEPTEMBER 30, 2007; AUTHORIZING CERTAIN ADJUSTMENTS TO THE BUDGET WITH THE APPROVAL OF THE CITY MANAGER; APPROVING FISCAL YEAR 2006-2007 CAPITAL IMPROVEMENTS PROGRAM PROJECTS; INCLUDING PROCEDURAL PROVISIONS; AND DECLARING AN EMERGENCY. Mr. Mihalkanin moved for adoption of the Ordinance on emergency, and Mr. Guerrero seconded the motion. Mr. O'Leary stated this is a long process of eight months. He stated the total FY 2007 budget is $117,480,988.00 and includes all operating funds. He provided a brief summary of the budget. Mayor Narvaiz thanked everyone for their hard work and Mr. O'Leary for his leadership. The Council then voted unanimously for adoption of the Ordinance on emergency. Mayor Narvaiz introduced for consideration adoption of an Ordinance on emergency the caption which was read as follows: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, SETTING THE TAX RATE FOR THE 2006 TAX YEAR; LEVYING TAXES FOR THE USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT OF THE CITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2006, AND ENDING SEPTEMBER 30, 2007; PROVIDING A SINKING FUND FOR THE RETIREMENT OF THE BONDED DEBT OF THE I CITY; INCLUDING PROCEDURAL PROVISIONS; AND DECLARING AN EMERGENCY. Mr. Guerrero moved that property taxes be increased by the adoption of a tax rate of 47.029/$100.00, and Mr. Bose seconded the motion. Mr. O'Leary stated the total property values for the 2006 property tax year are $2,039,634,021.00, representing a 9% increase above the previous year. He stated the City Council did not raise the tax rate. The Council then voted unanimously for adoption of the Ordinance on emergency. The meeting adjourned at 6:09 p.m. on a motion made by Mr. Guerrero and seconded by Mr. Bose. ~!Y~ Mayor I