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ORDINANCE NO. 2010-55 <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, SETTING THE TAX RATE FOR THE <br />2010 TAX YEAR AT 53.02¢ ON EACH $100 OF TAXABLE <br />VALUE OF REAL AND PERSONAL PROPERTY THAT IS <br />NOT EXEMPT FROM TAXATION; LEVYING TAXES FOR <br />THE USE AND SUPPORT OF THE MUNICIPAL <br />GOVERNMENT OF THE CITY FOR THE FISCAL YEAR <br />BEGINNING OCTOBER 1, 2010, AND ENDING SEPTEMBER <br />30, 2011; PROVIDING A SINKING FUND FOR THE <br />RETIREMENT OF THE BONDED DEBT OF THE CITY; <br />INCLUDING PROCEDURAL PROVISIONS; AND PROVIDING <br />AN EFFECTIVE DATE <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />SECTION 1. The tax rate for the City of San Marcos, Texas, for the tax year 2010 is <br />set at fifty -three and two hundredths cents (53.02¢) on each one hundred dollars ($100) of the <br />taxable value of real and personal property not exempt from taxation by the constitution and laws <br />of this state situated within the corporate limits of the City. <br />SECTION 2. The tax rate in Section 1 above is levied for the tax year 2010 upon all real <br />and personal property not exempt from taxation by the constitution and laws of this State situated <br />within the corporate limits of the City, and shall be collected for the use and support of the <br />municipal government of the City of San Marcos, Texas, to provide a sinking fund for the <br />retirement of the bonded debt of the City, and to provide for permanent improvements in the <br />City; and this tax shall be apportioned to the following specific purposes: <br />A. For the payment of current expenses and to be deposited in the general fund (for the <br />purposes of maintenance and operation) twenty -one and three hundredths cents (21.03¢) <br />on each one hundred dollars ($100) of the taxable value of such property; and <br />B. To provide for a sinking fund for the payment of the principal and interest and the <br />retirement of the bonded debt as it becomes due, thirty-one and ninety nine hundredths <br />cents (31.99¢) on each one hundred dollars ($100) of the taxable value of such property, <br />or so much thereof, or so much more, if any, as shall be necessary to pay the principal and <br />interest of the current year. <br />SECTION 3. The Tax Assessor - Collector is authorized to assess and collect the taxes of <br />the City employing the tax rate stated in Section 1 of this ordinance. <br />SECTION 4. There is levied and there shall be collected from every person, firm, <br />association or corporation pursuing any occupation taxed by the laws of Texas and against whom <br />