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TEXAS: <br />PART 1. The City Council finds that the recitals above are true and they are hereby <br />adopted as a matter of public record. The recitals shall become a part of the legislative history <br />pertaining to the adoption of this resolution and shall serve to document the extraordinary <br />circumstances existing at the time of its approval. <br />PART 2. The Interim Finance Director of the City of San Marcos, as the designated officer <br />of the City of San Marcos, is directed to calculate the voter -approval tax rate of the City of San <br />Marcos in the manner provided for a special taxing unit as provided in Chapter 26 of the Texas <br />Tax Code. <br />PART 3. As set forth in Texas Tax Code Section 26.04(c)(2)(A), the voter -approval rate <br />for a special taxing unit is the city's maintenance and operations rate times 1.08 plus the current <br />debt rate. <br />PART 4. The Interim Finance Director or her successor shall continue calculating the <br />voter -approval tax rate in the manner provided by this resolution until the earlier of: <br />(1) the second tax year in which the total taxable value of property taxable by <br />the City of San Marcos as shown on the appraisal roll for the City of San Marcos <br />submitted by the tax assessor for the City of San Marcos to the San Marcos City <br />Council exceeds the total taxable value of property taxable by the City of San <br />Marcos on January 1 of the current tax year; or <br />(2) the third tax year after the current tax year. <br />PART 5. This resolution shall be in full force and effect from and after its passage. <br />ADOPTED on June 2, 2020. <br />lane Hughson <br />Mayor <br />Attest: <br />mmy K.,6 ok <br />°Interim City Clerk <br />