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ORDINANCE NO. 2022-37 <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS AMENDING SECTION 2.461 OF SAN MARCOS CITY <br />CODE TO PROVIDE A DEFINITION OF THE TERM "FAIR MARKET <br />VALUE" FOR THE PURPOSE OF REPORTING INTERESTS IN REAL <br />PROPERTY IN ANNUAL FINANCIAL DISCLOSURE STATEMENTS <br />REQUIRED UNDER THE SAN MARCOS CODE OF ETHICS; <br />INCLUDING PROCEDURAL PROVISIONS; AND PROVIDING AN <br />EFFECTIVE DATE. <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />SECTION 1. Section 2.461 of the San Marcos City Code is hereby amended to read as <br />follows (added language is underlined): <br />Sec. 2.461. Definitions. <br />In this division: <br />Board member means a member of a board or commission whose membership <br />is wholly appointed by the city council, including any temporary board or <br />commission. <br />Business entity means a corporation, partnership, sole proprietorship, firm, <br />holding company, joint stock company, receivership, trust or any other entity <br />organized for profit. <br />Candidate means every person who declares for or files for any city office to <br />be filled by election. <br />Compensation means any benefit received in return for labor, services, <br />property or investment. <br />Fair market value means the appraised value reflected on the certified <br />appraisal roll as of December 31 st of the prior year by the appraisal district in the <br />county where the property is located. <br />Family member means the spouse and any dependent children of any official <br />or candidate. <br />Gift means a benefit received other than as compensation, but not including <br />campaign contributions reported as required by state law. <br />