Ord 2001-068 - Laserfiche WebLink

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retirement of the bonded debt as it becomes due, twenty-four and forty-four hundredths cents (24.44~) 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 2001-2002 Budget. SECTION 7. All funds collected by the City which are not specifically appropriated shall be deposited in the general fund. SECTION 8. This Ordinance will take effect 10 days after the date of its final passage, and the City Clerk will publish notice of its adoption in a newspaper of general circulation in the City. PASSED on first reading on September 13, 2001. PASSED on second reading on September 14,2001. PASSED, APPROVED AND ADOPTED on September 15, 2001. ~i(~ David Chiu Mayor Approved: ~B.~ Mark B. Taylor- d City Attorney City Clerk PUBLISHED IN THE SAN MARCOS DAILY RECORD ON WEDNESDAY, SEPTEMBER 19, 2001. C:\TEMP\Tax rate.doc