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<br />ORDINANCE NO. 1976 - 31
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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 OCTOBER
<br />1, 1976, AND ENDING ON SEPTEMBER 30, 1977; REVISING
<br />THE BUDGET FOR THE PRECEDING FISCAL YEAR ENDING
<br />ON SEPTD{8ER 30, 1976; 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 RETIREMENT 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 of San Marcos,
<br />Texas, for the Fiscal Year 1976-77 was heretofore published at least seven (7)
<br />days in advance of said hearing; and
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<br />WHEREAS, a public hearing on said budget was duly held on the 9th day of August,
<br />1976, and all interested persons were given an opportunity to be heard for or
<br />against any item thereof; now, therefore,
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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 the fiscal year
<br />beginning October 1, 1976, and ending on September 30, 1977, i~ words and figl~es as
<br />shown 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, Texas, for the fiscal ,rear
<br />beginning on October 1, 1975, and ending on September 30, 1976, as shown therein in
<br />words and figures be, and is hereby, revised and amended to show the words and
<br />figures indicated as "Revised 1975-1976" in the budget for the fiscal year beginning
<br />on October 1, 1976, and ending on September 30, 1977.
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<br />SECTION 3. That there is hereby levied for the year 1976, upon all property, real,
<br />personal, and mixed, not exempt from taxation by the Constitution and Laws of this
<br />State, situated within the corporate limits of said City of San Marcos, Texas, and
<br />there shall be collected for the use and support of the municipal government of said
<br />City of San Marcos, Texas, to provide a Sinking Fund for the retirement of the bonded
<br />debt of said City, and to provide for permanent improvements in said City a tax of
<br />One Dollar and Thirty Cents ($1.30) on each One Hundred Dollars of valuation of
<br />property as, aforesaid; and said tax, so levied and collected, shall be apportioned
<br />to the specified purposes hereinafter set forth, to-wit:
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<br />a. For the payment of current expenses and to be deposited in the General
<br />Fund, One Dollar and Twelve Cents ($1.12) on each One Hundred Dollars
<br />of valuation of such property; and,
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<br />b. To provide for a Sinking Fund for the payment of the principal and
<br />interest and the retirement of the bonded debt, as the same shall
<br />become due, Eighteen Cents ($.18) on each One Hundred Dollars of
<br />valuation of such property, or so much thereof, or so much more, if
<br />any, as shall be necessary to pay the principal and interest of the
<br />current year.
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<br />SECTION 4. There is hereby levied and there shall be collected from every person,
<br />firm, association, or corporation pursuing any occupation taxed by the General Laws
<br />of Texas, an annual occupation tax equal in each instance of one-half (1/2) of the
<br />State Occupation Tax, which tax shall be paid annually in advance, except as other-
<br />wise provided by State Law, in which event such tax shall be levied, collected; and
<br />paid as is provided by State Law, the amount thereof not in any event to exceed one-
<br />half (1/2) of the State Occupation Tax, as aforesaid.
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<br />SECTION 5. That all monies anticipated for collection under this Ordinance shall be
<br />indicated as revenue and expenditures by the City Manager in the preparation of the
<br />annual budget; and the Director of Finance shall keep accurate and complete records
<br />of all monies collected under this Ordinance and of the purposes for which same are
<br />expended.
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