Laserfiche WebLink
<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, twenty-four and twelve hundredths cents <br />(24.12~) on each one hundred dollars ($100) of the taxable value of such property, or so <br />much thereof, or so much more, if any, as shall be necessary to pay the principal and <br />interest of the cunent year. <br /> <br />SECTION 3. The City Tax Assessor-Collector is authorized to assess and collect the <br />taxes of the City employing the tax rate stated in Section 1 of this ordinance. <br /> <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 />an occupation tax can be levied by the City, an annual occupation tax equal to one-half of the <br />state occupation tax, which tax shall be paid annually in advance except as otherwise provided by <br />state law, in which event such tax shall be levied, collected, and paid as is provided by state law, <br />the amount thereof not in any event to exceed one-half of the state occupation tax. <br /> <br />SECTION 5. The City Director of Finance shall keep accurate and complete records of <br />all funds collected under this Ordinance and of the purposes for which they are expended. <br /> <br />SECTION 6. Funds collected pursuant to this Ordinance shall be expended as set forth in <br />the City of San Marcos 2002-2003 Budget. <br /> <br />SECTION 7. All funds collected by the City which are not specifically appropriated shall <br />be deposited in the General Fund. <br /> <br />SECTION 8. The importance of this Ordinance creates an emergency and an imperative <br />public necessity, and the provisions of the Charter requiring that ordinances be presented at three <br />separate meetings, and that ordinances do not take effect until ten days after the date of final <br />passage are suspended, and this Ordinance will take effect upon publication of notice of its <br />adoption in a newspaper of general circulation within the City. <br /> <br />PASSED, APPROVED AND ADOPTED on September <br /> <br />9, 2002. <br /> <br />\U} al~ <br /> <br />Robert B. Habingreither <br />Mayor <br /> <br /> <br />Approved: <br /> <br />~V3,~~ <br /> <br />Mark B. Taylor . (J - <br />City Attorney <br /> <br />PUBLISHED IN THE SAN MARCOS DAILY RECORD ON FRIDAY, SEPTEMBER 13, 2002. <br /> <br />C:ITEMPITax rate adoption. doc <br />