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177. Regular Meeting August 23, 2004 Page 8 AYE: Diaz, Guerrero, Mihalkanin, Narvaiz and Thomaides. NAY: Bose. ABSTAIN: None. Mayor Narvaiz introduced for consideration adoption of an Ordinance on emergency, the caption which was read as follows: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING ON OCTOBER 1, 2004 AND ENDING ON SEPTEMBER 30, 2005; AUTHORIZING CERTAIN ADJUSTMENTS TO THE BUDGET WITH THE APPROVAL OF THE CITY MANAGER; APPROVING FISCAL YEAR 2004-2005 CAPITAL IMPROVEMENTS PROGRAM PROJECTS; INCLUDING PROCEDURAL PROVISIONS; AND DECLARING AN EMERGENCY. Mr. Diaz moved for adoption of the Ordinance on emergency, and Mr. Guerrero seconded the motion. Mr. O'Leary stated this is the final stage of the Budget process that began in February. He stated the adoption of this Ordinance on emergency is the final adoption for the City Budget for fiscal year 2004-2005. He stated this proposed Budget includes no Property Tax rate increase and Property Tax Valuation in San Marcos of $1.7 billion, which is a 2.7 percent increase from the previous year. He stated the Staff also has an assumption the City will see a 1 percent Sales Tax increase next year. He also stated the budget includes a Market Merit Increase for employees costing about $1.2 million, including Benefits and Payroll Taxes, Social Service funding of $376,186.00, which includes the additional $8,736.00 for the Price Center and $17,450.00 for the Georgia Street Center, $35,000.00 allocation for Green Space, $5,000.00 allocated for a future youth facility, $10,000.00 allocated for Summerfest Fireworks, $900,000.00 allocated for General Fund Capital Outlay, increase the Street Overlay Program by $75,000.00 and increase EMS funding by $58,000.00 to staff an additional ambulance. He also stated the City is anticipating new CO Debt of $2.5 million, to be repaid through Property Taxes, anticipate new Revenue Debt of approximately $20.6 million, to be repaid through Water/Wastewater Rates, and anticipate new CO Debt of $3.495 million for Drainage Projects, to be paid through the Drainage Utility Rates. He stated this budget will also include a 10 percent Water/Wastewater Rate Increase, hiring back a Sanitarian position and a Development Coordinator position, allocation of $100,000.00 for City Council's Special Economic Development Projects, increase Economic Development Council contribution by $16,000.00 and the implementation of a Neighborhood Policing Program. The Council then voted unanimously for the adoption of Ordinance on emergency. Mayor Narvaiz introduced for consideration adoption of an Ordinance on emergency, the caption which was read as follows: