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f<) ..... ....J ~ AN ORDINANCE OF ¡rHE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, SETTING THE TAX RATE FOR SAID CITY FOR THE 1987 TAX YEAR, LEVYING TAXES FOR THE USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT OF SAID CITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 1987, AND ENDING SEPTEMBER 3Ø, 1988, PROVIDING A SINKING FUND FOR THE RETIREMENT OF THE BONDED DEBT OF SAID CITY, AND DECLARING AN EMERGENCY. 5 ORDINANCE 1987-125 WHEREAS, the Chief Appraiser of the Hays County Appraisal District has prepared and certified the appraisal roll for the City of San Marcos, Texas, said roll being that portion of the approved appraisal roll of the Hays County Appraisal District which lists property taxable by the City of San Marcos, Texas; and, WHEREAS, on receipt of said appraisal roll, Wayne Moore, Tax Assessor-Collector for the City of San Marcos, Texas, has performed the statutory calculations required by Section 26.Ø4 of the Texas Property Tax Code, and has publicized the calculation of the effective tax rate in a manner designed to come to the attention of all residents of said City and has submitted said rate to the City Council of said City at the meeting of Auqust 24 , 19~; and, WHEREAS, the City Council has complied with all applicable requirements of the Texas Property Tax Code prior to the setting of the tax rate for said City for 1987; now, therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1. That the tax rate for the City of Texas, for the tax year 1987 be, and is hereby, set at cents ($ .49 ) on each one hundred dollars ($lØØ) of value of real and personal property not exempt from the constitution and laws of this state situated corporate limits of said City. San Marcos, forty-nine the taxable taxation by within the SECTION 2. That there is hereby levied for the tax year 1987 upon all real and personal property not exempt from taxation by the constitution and laws of this state situated within the corporate limits of said City, and there shall be collected for the use and support of the municipal government. of said City of San Marcos, Texas, to provide a sinking fund for the retirement of the bonded debt of said City and to provide for permanent improvements in said City, said tax; and said tax, so levied and collected, shall be apportioned to the specific purposes hereinafter set forth; to-wit: A. For the payment of current expenses and to be deposited in the general fund (for the purposes of maintenance and operation) thirt1-nine cents ($ .39 ) on each one hundred dollars $iØØ) of the taxable value of such property; and, B. To provide for a sinking fund for the payment of t.he principal and interest and the retirement of the bonded debt, as the same shall become due ten cents ($ .10 ) on each one hundred dollars ($lØØ) of the taxable value of such property, or so much thereof, or so much more, if any, as shall be necessary to pay the principal and interest of the current year. SECTION 3. That the Tax Assessor-Collector is hereby authorized to assess and collect the taxes of said City employing the above tax rate.