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ORDINANCE NO. 2010 - 54 • AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, ADOPTING A BUDGET IN THE SUM OF $147,782,007 FOR THE FISCAL YEAR BEGINNING ON OCTOBER 1, 2010 AND ENDING ON SEPTEMBER 30, 2011; AUTHORIZING CERTAIN ADJUSTMENTS TO THE BUDGET WITH THE APPROVAL OF THE CITY MANAGER; APPROVING FISCAL YEAR 2010 -2011 CAPITAL IMPROVEMENTS PROGRAM PROJECTS; INCLUDING PROCEDURAL PROVISIONS; AND PROVIDING AN EFFECTIVE DATE RECITALS: 1. The City Charter provides for the City Council to set the time and place of a public hearing on the proposed budget for the City, and to cause notice of the hearing and a summary of the budget to be published in a newspaper of general circulation in the City. 2. The City Council set September 7, 2010 as the date of a public hearing on the budget and directed the staff to publish notice of the public hearing and a budget summary for the City's proposed budget for fiscal year 2010 -2011. • 3. Notice of the public hearing and budget summary were published in a newspaper of general circulation in the city on August 22, 2010. 4. One public hearing on the City's proposed budget for fiscal year 2010 -2011 was held on September 7, 2010 and all interested persons were given an opportunity at the hearing to be heard for or against any item or the amount of any item contained in the budget. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1. The City of San Marcos 2010 -2011 Budget in the amount of $147,782,007.00 is approved and adopted for the fiscal year beginning October 1, 2010 and ending September 30, 2011. A copy of the approved budget shall be kept on file in the office of the City Clerk. SECTION 2. The amount shown in the City of San Marcos 2010 -2011 Budget as necessary to provide for a sinking fund for the payment of the principal and interest and the retirement of the bonded debt of the City is appropriated for that purpose. •