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ORDINANCE NO. 2007 - 13 I AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS RESCINDING AND REPEALING ORDINANCE 1989-70 PERTAINING TO TAXATION OF FREEPORT PROEPRTY FOR TAX YEARS 2007 AND THEREAFTER; AMENDING ARTICLE 4 OF CHAPTER 78, AD VALOREM TAXATION, OF THE CITY OF SAN MARCOS CODE OF ORDINANCES TO ADD A NEW SECTION, EXEMPTION OF FREEPORT PROPERTY; AND PROVIDING AN EFFECTIVE DATE. RECIT ALS: 1. The City Council, in Ordinance 1989-70, chose to continue the taxation of certain personal property, known as "freeport property" that is temporarily in the State for manufacturing and other purposes. 2. The City Council desires to rescind and repeal Ordinance 1980-70 so that freeport property shall be exempt from ad valorem taxation beginning January 1,2007, and thereafter. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: I SECTION 1. Ordinance 1989-70 is hereby rescinded and repealed. SECTION 2. Chapter 78, Article 4 of the San Marcos Code of Ordinances is amended as follows (underlinina indicates added text, strikethrough indicates deleted text): Sec. 78.080 Exemption of Freeport property from ad valorem taxation: (a) Within this Section. "Freeport property" is defined as all tanaible personal property and other property described in Article VIII. Section 1-j of the Texas Constitution. (b) Effective January 1. 2007. all Freeport property within the City is exempt from ad valorem taxation by the City. Secs. 78.079 78.081--78.100. Reserved. SECTION 3. If any word, phrase, clause, sentence, or paragraph of this ordinance is held to be unconstitutional or invalid by a court of competent jurisdiction, the other provisions of this ordinance will continue in force if they can be given effect without the invalid portion. I SECTION 4. All ordinances and resolutions or parts of ordinances or resolutions in conflict with this ordinance are repealed.