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<br />_Financial Statement (continued)
<br />
<br />Population (1960) -12,713
<br />Population (1968) - 17,500 (est)
<br />
<br />Per Capita Net Debt - $69.25
<br />Area - 7 sq. llli.
<br />
<br />I
<br />
<br />*Does not include $33,175,00 gener~' fund equipment warrants
<br />payable over a four-year period to local banks.
<br />
<br />UWater-a,-rid sewer general obligation bonds paid from, the earnings
<br />of the combined water and sewer systems, along with $3440000
<br />outstanding water and sewer revenue bonds, MaximUl1l principal
<br />and interest payment far these combined issues ($2190000 and
<br />$344,000) occurs in 1972 in the amount of $65,263,75. Audit
<br />of Ernst and Ernst for period of 9 months ended September 30,
<br />1967, indicates gross water and sewer income of $274,911,58
<br />and expenses of $101,389.78, with a net income of $173,521,80
<br />for a 9 month period, Estimated net income for a one-year
<br />period would be $231,362.40, This covers the above mentioned
<br />payment 3,55 times. $1,410,000 water and sewer revenue bonds
<br />of the City are authorized but unissued pending approval of a
<br />D,H,U,D, grant,
<br />
<br />ESTIMATED DIRECT AND OVERLAPPING DEBT STATEMENT
<br />(1-31-68)
<br />
<br />Taxing Body
<br />
<br />Hays County
<br />San Marcos ISD
<br />
<br />Amount Net Debt
<br />
<br />% Overlapping
<br />
<br />$ 165,000
<br />2,091,033*
<br />
<br />37,97%
<br />60.03%
<br />
<br />,Amount Overlapping
<br />
<br />$ 62,650
<br />1,255,247
<br />
<br />TOTAL NET OVERLAPPING DEBT----~------------.---------------$1,317,897
<br />City of San Marcos Net Debt-------------------------------- 1,211,912
<br />TOTAL DIRECT AND OVERLAPPING DEBT--------------------------$2,529,809
<br />
<br />I
<br />
<br />Ratio to 1967 Assessed Valuation-----------------
<br />
<br />11. 42%
<br />144.56
<br />
<br />Per Capita Debt----------------------------------$
<br />
<br />*San Marcos Independent School District has $20500,000 authorized but
<br />unissued general obligation schoolhouse bonds.
<br />
<br />Tax Data
<br />
<br />Tax Rate
<br />
<br />Collection
<br />_% Current % Total
<br />
<br />Tax Year
<br />
<br />Assessed Valuation
<br />
<br />1963
<br />1964
<br />1965
<br />1966
<br />1967
<br />
<br />$11,409,989
<br />11,662,194
<br />12,888,289
<br />14,] ~9,036
<br />22,151,235u
<br />
<br />$2.00
<br />2.00
<br />2.00
<br />2,35
<br />2.00
<br />
<br />88.74
<br />89.10
<br />89,66
<br />84,93*
<br />91,08
<br />
<br />103.14
<br />95.33
<br />95,59
<br />97,00
<br />in process
<br />
<br />*Low collections due to discount being dropped for early payment,
<br />**Reva1uation by Professional Appraising Service,
<br />
<br />On February 240 1967, the City of San Marcos adopted a charter which pro-
<br />vides for increased penalty for de1iquent taxes. (10% plus 6% per annum),
<br />This should increase the percent of current tax collections.
<br />
<br />I Tax Rate Distribution
<br /> ~ ~ ~
<br />General Fund $1.715 $1.757 $1,68
<br />I and S Fund --:.ill. ~ ~
<br /> $2.00 $2.35 $2,00
<br />
<br />TAX RATE LIMITATION: San Marcos. Texas, is a Home Rule Charter City with
<br />a maximum authorized tax rate of $2.50 per $100.00
<br />assessed valuation for all purposes,
<br />
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