09091968 Regular Meeting - Laserfiche WebLink

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I I I AN ORDINANCE LEVYING TAXES FOR. THE USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT OF THE CITY OF SAN MARCOS, TEXAS; PROVIDING A SINK- ING FUND FOR THE 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: SECTION 1. There i$ hereby levied for the year 1968, upon all property, real, personal and mixed, not exempt from 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 for the retirement of the bonded debt of said City, and to provide for permanent i~provements in said City, a tax of Two Dollars and No One-Hundreds ($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-one and Two-tenths Cents ($1.612) on each One Hundred Dollars of valuation of such property; and b. To provide for a Sinking Fund for the payment of the principal and interest and the retire- ment of the bonded debt, as the same shall be- come due, Thirty-eight and Eight-tenths Cents ($.388) on each One Hundred Dollars of valuat- ion of such property, or so much thereof, or so much more, if any, as shall be necessary to pay the principal and interest for the current year. SECTION 2. There is hereby levied and there shall be collected from every person, firm, 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 is provided 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 Mana~er 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. SECTION 4. All monies collected which are not specifically appropriated shall be deposited into the General Fund. SECTION 5. Due to the pressing financial obligations of the City, which must be discharged immediately, an emergency is declared, and the provision of the Charter, requiring that ordinances be read on three svereal days, and that no ordinance shall become effective until the expiration of ten (10) days following the date of its final passage, is hereby dispensed