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Item 14 <br />Attachment # 1 <br />Page 2 of 2 <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 />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 />SECTION 6. Funds collected pursuant to this Ordinance shall be expended as set forth in <br />the City of San Marcos 2011 -2012 Budget. <br />SECTION 7. All funds collected by the City which are not specifically appropriated shall <br />be deposited in the General Fund. <br />SECTION 8. This ordinance shall become effective upon approval on second reading. <br />CONSIDERED ON FIRST READING AND APPROVED on September 6, 2011. <br />CONSIDERED ON SECOND READING, PASSED, APPROVED AND ADOPTED on <br />September 20, 2011. <br />l <br />aniel Guerrero <br />Mayor <br />Attest: <br />Ja e Lee Pettijo <br />City Clerk <br />Approved: <br />L <br />ichael . C entino <br />City At o y <br />Item 14 <br />