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ORDINANCE NO. 2020-72 <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY <br />OF SAN MARCOS, TEXAS SETTING THE TAX RATE FOR <br />THE 2020 TAX YEAR AT 59.30 CENTS ON EACH $100 OF <br />TAXABLE VALUE OF REAL PROPERTY THAT IS NOT <br />EXEMPT FROM TAXATION; LEVYING TAXES FOR THE <br />USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT <br />OF THE CITY FOR THE FISCAL YEAR BEGINNING <br />OCTOBER 1, 2020, AND ENDING SEPTEMBER 30, 2021; <br />PROVIDING A SINKING FUND FOR THE RETIREMENT <br />OF THE BONDED DEBT OF THE CITY; INCLUDING <br />PROCEDURAL PROVISIONS; AND PROVIDING AN <br />EFFECTIVE DATE. <br />RECITALS: <br />1. The City Council has proposed an ad valorem tax rate of 59.30 cents on each $100 of <br />taxable value for Tax Year 2020. <br />2. State law requires the City Council to set the time and place of a public hearing on the <br />City's proposed tax rate. <br />3. The City Council set September 15, 2020 as the date of the public hearing on the <br />proposed tax rate and directed staff to publish notice of the public hearing in a newspaper of <br />general circulation in the City. <br />4. Notice of the public hearing on the proposed tax rate will be published in a newspaper <br />of general circulation on September 6, 2020 and the notice will include the time and location of <br />the public hearing to be held on September 15, 2020 at 6:00 p.m. at San Marcos City Hall, 630 E. <br />Hopkins Street, San Marcos, Texas. <br />5. Passage of this ordinance on first reading constitutes a record vote of the City Council <br />as required by Section 26.05 of the Texas Tax Code. <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />SECTION 1. The City Council levies, approves, and orders to be assessed and collected <br />for Fiscal Year 2020-2021 on all property in the corporate limits of the City of San Marcos that is <br />not exempt from taxation, a property (ad valorem) tax at the rate of $59.30 per $100 of taxable <br />value. <br />THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND <br />OPERATIONS THAN LAST YEAR'S TAX RATE. THE TAX RATE WILL <br />