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<br />ORDINANCE NOL 38
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<br />AN ORDINANCE. OF THE CITY COUNCIL
<br />OF THE CITY OF SAN MARCOS, TEXAS,
<br />ADOPTING THE BUDGET FOR THE CITY OF
<br />SAN MARCOS, TEXAS, FOR THE FISCAL
<br />YEAR BEGINNING ON OCTOBER 1, 1979,
<br />AND ENDING ON SEPTEMBER 30, 1980;
<br />REVISING THE BUDGET FOR THE PRECEDING
<br />FISCAL YEAR ENDING ON SEPTEMBER 30,
<br />1979; LEVYING TAXES FOR THE USE AND
<br />SUPPORT OF THE MUNICIPAL GOVERNMENT OF
<br />THE CITY OF SAN MARCOS, TEXAS; PRO-
<br />VIDING A SINKING FUND FOR THE RETIRE-
<br />MENT OF THE BONDED DEBT OF SAID CITY;
<br />AND DECLARING AN EMERGENCY.
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<br />WHEREAS, a notice of public hearing on the budget for
<br />the City of San Marcos, Texas, for the fiscal year 1979-80
<br />was heretofore pUblished at least ten (10) days in advance
<br />of said hearing; and,
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<br />WHEREAS, a public hearing on said budget was duly held
<br />on the 13th day of August, 1979 and all interested perSOns
<br />were given an opportunity to be heard for or against any
<br />item thereof; now, therefore,
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<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
<br />SAN MA.RCOS, TEXAS:
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<br />SECTION L That the budget for the City of San Marcos,
<br />Texas, for the fiscal year beginning October 1, 1979, and
<br />ending on September 30, 1980, in words and figures as shown
<br />therein be, and is hereby, finally approved and adopted.
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<br />SECTION 2. That the budget of the City of San Marcos,
<br />Texas, for the fiscal year beginning on October 1, 1978, and
<br />ending on September 30, 1979, as shown therein in words and
<br />figures be, and is hereby, revised and amended to show the
<br />words and figures indicated as revised 1978-1979, in the
<br />budget for the fiscal year beginning on October I, 1979, and
<br />ending on September 30, 1980.
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<br />SECTION 3. That there is hereby levied for the year 1979
<br />upon all property, real, personal, and mixed, not exempt from
<br />taxation by the constitution and laws of this State, situated
<br />within the corporate limits of said City of San Marcos, Texas,
<br />and there shall be collected for the use and support of the
<br />municipal government of said City of San Marcos, Texas, to
<br />provide a sinking fund for the retirement of the bonded debt
<br />of said City, and to provide for permanent improvements in
<br />said City a tax of one dollar and thirty cents l$1.30) on each
<br />one hundred dollars of valuation of property as aforesaid; and
<br />said tax, so levied and collected, shall be apportioned to the
<br />specified purposes hereinafter set forth., to-wit:
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<br />A. For the payment of current expenses and to be deposited in
<br />the general fund, one dollar and twelve cents ($1.12) on
<br />each one hundred dollars of valuation of such property; and,
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<br />B. To provide for a sinking fund for the payment of the principal
<br />and interest and the retirement of the bonded debt, as the
<br />same shall become due eighteen cents ($0.18) on each one
<br />hundred dollars of valuation of such property, or so much
<br />thereof, or su much more, if any, as shall be necessary to
<br />pay the principal and interest of the current year.
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<br />SECTION 4. That there is hereby levied and there shall be
<br />collected from every persun, firm, association, or corporation
<br />pursuing any occupation taxed by the general laws of Texas an
<br />annual occupation tax equal in each instance to one-half (1/2)
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