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<br />ORDINANCE NO. 1978-43
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<br />AN ORDINANCE OF THE CITY OF SAN MARCOS, TEXAS,
<br />ADOPTING THE BUDGET FOR THE CITY OF SAN MARCOS,
<br />TEXAS, FOR THE FISCAL YEAR BEGINNING ON
<br />OCTOBER 1, 1978, AND ENDING ON SEPTEMBER 30,
<br />1979; REVISING THE BUDGET FOR THE PRECEDING
<br />FISCAL YEAR ENDING ON SEPTEMBER 30, 1978; LEVY-
<br />ING TAXES FOR THE USE AND SUPPORT OF THE
<br />MUNICIPAL GOVERNMENT OF THE CITY OF SAN MARCOS,
<br />TEXAS: PROVIDING A SINKING FUND FOR THE RETIRE-
<br />MENT OF THE BONDED DEBT OF SAID CITY, AND DE-
<br />CLARING AN EMERGENCY.
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<br />WHEREAS, a notice of public hearing on the budget for the City
<br />of San Marcos, Texas, for the fiscal-year 1978-79 was heretofore
<br />published at least seven (7) days in advance of said hearing;
<br />and,
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<br />WHEREAS, a public hearing on said budget was duly held on the
<br />13th day of September, 1978 and all interested persons were
<br />given an opportunity to be heard for or against any item thereof;
<br />now, therefore,
<br />
<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS,
<br />TEXAS:
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<br />SECTION 1. That the budget for the City of San Marcos, Texas,
<br />for the fiscal year beginning October 1, 1978, and ending on
<br />September 30, 1979, in words and figures as shown therein be,
<br />and is hereby, finally approved and adopted.
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<br />SECTION 2. That the budget of the City of San Marcos, Texas,
<br />for the fiscal year beginning on October 1, 1977, and ending
<br />on September 30, 1978, as shown therein in words and figures
<br />be, and is hereby, revised and amended to show the words and
<br />figures indicated as revised 1977-1978, in the budget for the
<br />fiscal year beginning on October 1, 1978, and ending on
<br />September 30, 1979.
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<br />SECTION 3. That there is hereby levied for the year ~upon
<br />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 said
<br />City a tax of one dollar and thirty cents ($1.30) on each one
<br />hundred dollars of valuation of property as aforesaid; and said
<br />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 ($1.12) on
<br />each one hundred dollars of valuation of such property; and,
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<br />B. To provide for a sinking fund for the payment of the principal
<br />and interest and the retirement of the bonded debt, as the
<br />same shall become due eighteen cents ($.18) on each one hundred,
<br />dollars of valuation of such property, or so much thereof, or
<br />so much more, if any, as shall be necessary to pay the
<br />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 person, 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)
<br />of the State occupation tax, which tax shall be paid annually
<br />in advance except as otherwise provided by State law, in which
<br />event~such tax shall be levied, collected, and paid as is
<br />provided by State law, the amount thereof not in any event to
<br />exceed one-half (1/2) of the State occupation tax as aforesaid.
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