09141970 Regular Meeting - Laserfiche WebLink

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AN ORDINANCE LEVYING TAXES FOR THE USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT OF THE CITY OF SAN MARCOS, TEXAS; PROVIDING A SINKING FUND FOR RETIREMENT OF THE' BONDED DEBT OF SAID CITY; AND DECLARING AN EMERGENCY BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF SAN MARCOS: I SECTION 1. There is hereby levied for the year 1970, upon all property, real, personal and mixed, not exempt'f~om taxation by the constitution and laws of this State, situated within the corporate limits of said City of San Marcos, Texas, 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 of the retirement of the bonded debt of said City, and to provide for permanent improvements in said City, a tax of Two Dollars and No One-Hundredths ($2.00) on each One Hundred Dollars of Valuation of property as aforesaid; 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, One Dollar and Sixty-two Cents ($1.62) on each One Hundred Dollars of valuation of such property; and b. To provide for a Sinking Fund for t~e payment of the principal and interest and th. ~~tire- ment of the bonded debtj/as the's'ame shall be~' come due, Thirty-eight Cents ($.38) of each One Hundred Dollars of valuation of such prop- erty, or so much thereof, or so much more, if any, as shall be necessary to pay the princi- pal and interest for the current year. I SECTION 2. There is hereby levied and there shall be collected from every person, fir~, association or corporation pursuing any occupation taxed by the General Laws of Texas, an annual occupat- ion tax equal in each instance of one-half (!) of the State Occupation Tax, which tax shall be paid annually in advance, ex- cept as otherwise provided by State Law, in which event such tax shall be levied, collected and paid as proviaed by State Law, the amount thereof not in any event to exceed one-half (!) of the State Occupation Tax, as aforesaid. SECTION 3. All monies anticipated for collection under this ordinance shall be indicated as revenue and expenditures by the City Manager in the preparation of the annual budget; and the City Treasurer shall keep accurate and complete records of all monies collected under this ordinance and of the purposes for which same are expended. I SECTION 4. All monies collected which are not specmfically appropriated shall be deposited into the General Fund.