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<br />45
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<br />ORDINANCE NO. 1974 - 46
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<br />I
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<br />AN ORDINANCE OF THE CITY OF SAN MARCOS,
<br />TEXAS, ADOPTING THE BUDGET FOR THE CITY
<br />OF SAN MARCOS, TEXAS, FOR THE FISCAL
<br />YEAR BEGINNING ON OCTOBER 1, 1974, AND
<br />ENDING ON SEPTEMBER 30, 1975; REVISING
<br />THE BUDGET FOR THE PRECEDING FISCAL
<br />YEAR ENDING ON SEPTEMBER 30, 1974;
<br />LEVYING TAXES FOR THE USE AND SUPPORT
<br />OF THE MUNICIPAL GOVERNMENT OF THE CITY
<br />OF SAN MARCOS, TEXAS; PROVIDING A
<br />SINKING FUND FOR THE RETIREMENT OF THE
<br />BONDED DEBT OF SAID CITY; AND DECLARING
<br />AN EMERGENCY.
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<br />WHEREAS, a notice of a public hearing on the budget for the
<br />City of SAn Mareos, Texas, for the fiscal year 1974-75 was hereto-
<br />fore published at least fifteen (15) days in advance of said
<br />hearing; and,
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<br />WHEREAS, a public hearing on said budget was duly held on
<br />the 12th day of August, 1974, and all interested persons were given
<br />an opportunity to be heard for or against any item thereof; now,
<br />therefore,
<br />
<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS,
<br />TEXAS:
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<br />I
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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, 1974, and ending on Septem-
<br />ber 30, 1975, in words and figures as shown therein be, and is
<br />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, 1973, and ending on
<br />September 30, 1974, as shown therein in words and figures, be, and
<br />is hereby, revised and amended to show the words and figures
<br />indicated as "Revised 1973-1974" in the budget for the fiscal year
<br />beginning on October I, 1974, and ending on September 30, 1975.
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<br />SECTION 3. There is hereby levied for the year 1974, 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 Mareos, Texas, to provide a Sinking Fund for the retirement of
<br />the bonded debt of said City, and to provide for permanent improve-
<br />ments in said City, a tax of two Dollars and No One-hundredths ($2.00)
<br />on each One Hundred Dollars of valuation of property as aforesaid;
<br />and said tax, so levied and collected, shall be apportioned to the
<br />specific purposes hereinafter set forth, to-wit:
<br />
<br />I.
<br />
<br />a.
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<br />For the payment of current expenses and to be
<br />deposited in the General Fund, One Dollar and
<br />Sixty-three Cents ($1.63) on each One Hundred
<br />Dollars of valuation of such property; and
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<br />b.
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<br />To provide for a Sinking Fund for the payment
<br />of the principal and interest and the retire-
<br />ment of the bonded debt, as the same shall
<br />become due, Thirty-seven Cents ($ .37) on each
<br />One Hundred Dollars of valuation of such prop-
<br />erty, or so much thereof, or so much more, if
<br />any, as shall be necessary to pay the principal
<br />and interest of the current year.
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