Ord 2008-036 - Laserfiche WebLink

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B. To provide for a sinking fund for the payment of the principal and interest and the • retirement of the bonded debt as it becomes due, thirty-two and ninety-six hundredths cents (32.96 ¢) on each one hundred dollars ($100) of the taxable value of such property, or so much thereof, or so much more, if any, as shall be necessary to pay the principal and interest of the current year. SECTION 3. The Tax Assessor-Collector is authorized to assess and collect the taxes of the City employing the tax rate stated in Section 1 of this ordinance. SECTION 4. The City Director of Finance shall keep accurate and complete records of all funds collected under this Ordinance and of the purposes for which they are expended. SECTION 5. Funds collected pursuant to this Ordinance shall be expended as set forth in the City of San Marcos 2008-2009 Budget. SECTION 6. All funds collected by the City which are not specifically appropriated shall be deposited in the General Fund. SECTION 7. The importance of this Ordinance creates an emergency and an imperative public necessity, and the provisions of the Charter requiring that ordinances be presented at three separate meetings, and that ordinances do not take effect until ten days after the date of final • passage are suspended, and this Ordinance will take effect upon publication of notice of its adoption in a newspaper of general circulation within the City. PASSED, APPROVED AND ADOPTED on September 16, 2008 Susan Narvaiz Mayor Attest: Approved: `p Sherry Ma u"rn Michael C sentino City Clerk City Attorney Published in the San Marcos Daily Record on Wednesday, September 24, 2008.