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<br />ORDINANCE NO. 1977 - 36
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<br />AN ORDINANCE OF THE CITY OF SAN BARCOS, TEXAS,
<br />ADOPTING THE BUDGET FOR THE CITY OF SAN MARCOS,
<br />~EXAS, FOR THE FISCAL YEAR BEGINNING ON OCTOBER
<br />1, 1977, AND ENDING ON SEPTEBBER 30, 1978; REVISING
<br />THE BUDGET FOR THE PRECEDING FISCAL YEAR ENDING
<br />ON SEPTEMBER 30, 1977; LEVYING TAXES FOR THE USE
<br />AND SUPPORT OF THE MUNICIPAL GOVERNMENT OF THE
<br />CITY OF SAN MARCOS, TEXAS: PROVIDING A SINKING
<br />FUND FOR THE RETURE~ffiNT OF THE BONDED DEBT OF
<br />SAID CITY: AND DECLARING 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 1977-78 was heretofore
<br />published at least seven (7) days in advance of said hearing; and,
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<br />WHEREAS, a public hearing on said budget was duly held on the 12th
<br />day of September, 1977 and all interested persons were given an
<br />opportuni ty to be he ard for or agains t any item thereof; now, there-
<br />fore,
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<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS:
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<br />Section 1. That the budget for the City of San Marcos, Texas for
<br />the fis cal year beginning October 1, 1977, and ending on September
<br />30, 1978, in words and figures as shown therein be, and is hereby,
<br />finally approved and adopted.
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<br />Section 2. That the budget of the City of San Marcos, Texas, for
<br />the fiscal year beginning on October 1, 1976, and ending on September
<br />30,1977, as shown therein in words and ~igures be, and is hereby,
<br />revised and amended to show the words and figures indicated as
<br />revised 1976-1977 in the budget for the fiscal year beginning on
<br />October 1, 1977, and ending on September 30, 1978.
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<br />Section 3. That there is hereby levied for the year 1977 upon all
<br />property, real, personal, and mixed, not exempt from taxation by
<br />the constitution and laws of this state, situated within the corporate
<br />limits of said City of San Marcos, Texas, and there shall be collected
<br />for the use and support of the municipal government of said City of
<br />San Marcos, Texas, to provide a sinking fund for the retirement of
<br />the bonded debt of said City, and to provide for permanent improvement~
<br />in said city a tax of one dollar and thirty cents ($1.30) on each one
<br />hundred dollars of valuation of property as afmresaid; and said tax,
<br />so levied and collected, shall be apportioned to the specified purpose
<br />hereinafter set forth, to-wit:
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<br />A. For the payment of current expenses and to be deposited
<br />in the general fund, one dollar and twelve cents ($1.12)
<br />on each one hundred dollars of valuation of such property;
<br />and,
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<br />B. To provide for a sinking fund for the payment of the
<br />principal and interest and the retirement of the bonc:ed
<br />debt, as the same shall become due eighteen cents ($.18)
<br />on each one hundred dollars of valuation of such property,
<br />or so much thereof, or so much more, if any, as shall be
<br />necessary to pya the principal and interest of the current
<br />year.
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<br />Section 4. That there is hereby levied and there shall be collected
<br />from every person, firm, association, or corporation pursuing any
<br />occupation taxed by the general laws of TflltaSt'ansannual occupation tax
<br />equal in each instance to one-half (1/2) of the State occupation tax,
<br />which tax shall be paid annually in advance except as otherwise pro-
<br />vided by State law, in which event such tax shall be levied, collecte
<br />and paid as is provided by state law, the amount thereof not in any
<br />event to exceed one-half (1/2) of the State occupation tax as
<br />aforesaid.
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