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I I I 1973 - 42 I~) AN ORDINANCE LEVYING TAXES FOR THE USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT OF THE CITY OF SAN MARCOS, TEXAS; PROVIDING A SINKING FUND FOR THE RETIREMENT OF THE BONDED DEBT OF SAID CITY; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1. There is hereby leVied for the year 1973, upon all property, real, personal and mixed, not exempt from taxation by the constitution and laws of this State, situated within the corporate limits of said City of San Marcos, Texas, and there shall be collected, for the use and support of the municipal government of said City of San Marcos, Texas, to provide a Sinking Fund for the retirement of the bonded debt of said City, and to provide for permanent improvements in said City, a tax of Two Dollars and No One-hundredths ($2.00) on each One Hundred Dollars of valuation of property as aforesaid; and said tax, so levied and collected, shall be apportioned to the specific purposes hereinafter set forth, to~it: a. For the payment of current expenses and to be deposited in the General Fund, One Dollar and Sixty-six Cents ($1.66) on each One Hundred Dollars of valuation of such property; and b. To provide for a Sinking Fund for the payment of the principal and interest and the retirement of the bonded debt, as the same shall become due, Thirty-four Cents ($.34) on each One Hundred Dollars of valuation of such property, or so much thereof, or so much more, if any, as shall be necessary to pay the prineipa1 and interest of the current year. SECTION 2. There is hereby levied and there shall be collected from every person, firm, association or corporation pursuing any occupation taxed by the General Laws of Texas, an annual occupation tax equal in each instance of one-half (~) of the State Occupation Tax, which tax shall be paid annually in advance, except as otherwise provided by State Law, in which event such tax shall be levied, collected and paid as is provided by State Law, the amount, thereof not in any event to exceed one-haIr (~) of the State Occupation Tax, as aforesaid. SECTION 3. All monies anticipated for collection under this ordinance shall be indicated as revenue and expenditures by the City Manager in the preparation of the annual budget; and the City Treasurer shall keep accurate and complete records of all monieg collected under this ordinance and of the purposes for which same are expended. SECTION 4. All monies collected which are not specifically appropriated shall be deposited in the General Fund. SECTION 5. Due to the pressing financial obligations of the City, which must be discharged immediately, an emergency is declared, and the provisions of the Charter, requiring that ordinances shall be read on three several days, and that no ordinance shall become effective until the expiration of ten (10) days following the date of its final passage is hereby dispensed with, this ordinance to be in effect immediately upon its passage by this body. PASSED, APPROVED AND ADOPTED this 10th day of September, 1973. ]~dd~b Doriss Hambrick City Secretary '~ / J/ J>'t::;/'- :7 Etheredge Mayor Li~~I~ A1l:lert 11, Walke, C'i-tr Atto:r;ner