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<br />ORDINANCE NO. 1975 - 40
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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 THIS FISCAL YEAR BEGINNING ON OCTOBER
<br />1, 1975, AND ENDING ON SEPTEMBER 30, 1976; RE-
<br />VISING THE BUDGET FOR THE PRECEDING FISCAL YEAR
<br />ENDING ON SEPTEMBER 30, 1975; LEVYING TAXES FOR
<br />THE USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT
<br />OF THE CITY OF SAN MARCOS, TEXAS; PROVIDING A
<br />SINKING FUND FOR THE RETIREMENT OF THE 'BONDED
<br />DEBT OF SAID CITY; AND DEClARUlG 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 Fiseal Year 1975-1976 was heretofore published at least seven
<br />(7) days in advanee of said hearing; and
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<br />WHEREAS, a publie hearing on said budget was duly held on the 25th day of August,
<br />1975, 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 fiseal year
<br />beginning October 1, 1975, and ending on September 30, 1976, in words and figures
<br />as 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 Mareos, Texas, for the fiscal year
<br />beginning on October I, 1974, and ending on September 30, 1975, as shown therein
<br />in words and figures be, and is hereby, revised and amended to show the words and
<br />figures indicated as "Revised 1974-1975" in the budget for the fiscal year beginning
<br />on Oetober 1, 1975, and ending on September 30, 1976.
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<br />SECTION 3. There is hereby levied for the year 1975, upon all property, real,
<br />personal, and mixed, not exempt from taxation by the Constitution and Laws of
<br />this State, situated within the corporate limits of said City of San Mareos, Texas,
<br />and there shall be collected, for the use and support of the munieipal government
<br />of said City of San Marcos, Texas, to provide a Sinking Fund for the retirement of
<br />the bonded debt of said City, and to provide for permanent improvements in said City
<br />a tax of One Dollar and Thirty Cents ($l.30) on each One Hundred Dollars of valuation
<br />of property as aforesaid; and said tax, so levied and eolleeted, shall be apportioned
<br />to the speCific 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 ($1.12) on each One Hundred Dollars
<br />of valuation of such property; and
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<br />b. To provide for a Sinking Fund for the payment of the principal and interest
<br />and the retirement of the bonded debt, as the same shall become due,
<br />Eighteen Cents ($.18) on each One Hundred Dollars of valuation of such
<br />property, or so much thereof, or so mueh more, if any, as shall be necessary
<br />to pay the principal and interest of the eurrent year.
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<br />SECTION 4. There is hereby levied and there shall be collected from every person,
<br />firm, association, or eorporation pursuing any occupation taxed by the General Laws
<br />of Texas, an annual occupation tax equal in eaeh instanee of one-half (1/2) of the
<br />State Occupation Tax, whieh 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
<br />one-half (1/2) of the State Oecupation Tax, as aforesaid.
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<br />SECTION 5. All monies antieipated for collection under this Ordinance shall be
<br />indicated as revenue and expenditures by the City Manager in the preparation of
<br />the annual budget; and the City Treasurer shall keep accurate and complete reeords
<br />of all monies colleeted under this Ordinance and of the purposes for which same are
<br />expended.
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