Ord 2004-050 - 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, twenty-six and fifty-six hundredths cents (26.56¢) 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. There is levied and there shall be collected from every person, firm, association or corporation pursuing any occupation taxed by the laws of Texas and against whom an occupation tax can be levied by the City, an annual occupation tax equal to 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-half of the state occupation tax. SECTION 5. 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 6. Funds collected pursuant to this Ordinance shall be expended as set forth in the City of San Marcos 2004-2005 Budget. SECTION 7. All funds collected by the City which are not specifically appropriated shall be deposited in the General Fund. SECTION 8. 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 fmal 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 August 23, 2004. ~re . SusanNarvaiz ~ Mayor ?J~tlØJI~ Janis K. Womack City Clerk ~.~~ Mark B. Taylor ~ d . City Attorney Published in San Marcos Daily Record on Tuesday, September 7, 2004.