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I I I 146 ORDINANCE NO. 1980- 38 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS SETTING THE TAX RATE FOR SAID CITY FOR THE FISCAL YEAR BEGInNING OCTOBER 1, 1980, AND ENDING SEPTEMBER 30, 1981; LEVYInG TAXES FOR THE USE AND SUPPORT OF THE MU~ICIPAL GOVERNMENT OF SAID CITY FOR SAID FISCAL YEAR, AND DECLARING AN EMERGENCY. WHEREAS, the Board of Equalization for the City of San Marcos, Texas has approved and certified the tax roll for said city for 1980; and, WHEREAS, the tax assessor-collector for said city has made the statutory calculations required by article 7244c, V.T.C.S. and has publicized the effective tax rate in a manner designed to come to the attention of all residents of said city and has sub- mitted said rate to the city council of said city at the meeting of August 18,1980 , of said City Council; and, WHEREAS, said city council has complied with all requirements of Article 7277c, V.T.C.S. prior to the setting of the tax rate for said city for 1980; now, therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS1 TEXAS: Section 1. That the tax rate for the Ci ty of San Marcos I Texas for the year 1980 be, and is hereby set at one dollar and forty-two cents on each one hundred dollars of the assessed value of real and tangible personal property not exempt from taxation by the constitution and laws of this state situated within the corporate limits of said city. Section 2. That there is hereby levied for the year 1980 upon all real and tangible personal property not exempt from taxation by the constitution and laws of this state situated within the corporate limits of said City and there shall be collected for the use and support of the municipal government of said City of San Marcos, Texas to provide a sinking fund for the retirement of the bonded debt of said city, and to provide for permanent improvements in said city said tax; and said tax, so levied and collected, shall be apportioned to the specific purposes hereinafter set forth, to-- wi t: A. For the payment of current expenses and to be deposited in the general fund, one dollar and twenty-five cents on each one hundred dollars of the assessed value of such property; and, 3. To provide for a sinking fund for the payment of the principal and interest and the retire- ment of the bonded debt, as the same shall be- come due seventeen cents on each one hundred dollars of the assessed value of such property, or so much thereof, or so much more, if any, as shall be necessary to pay the prin- cipal and interest of the current year. Section 3. That there is hereby levied and there shall be collected from every person, firm, association or corporation pursuing any occupation taxed by the general laws of Texas an annual occupation tax equal in each instance 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 as aforesaid.