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167 ORDINANCE 1989-39 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, SETTING THE TAX RATE FOR SAID CITY FOR THE 1989 TAX YEAR, LEVYING TAXES FOR THE USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT OF SAID CITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 1989, AND ENDING SEPTEMBER 3Ø, 199Ø, PROVIDING A SINKING FUND FOR THE RETIREMENT OF THE BONDED DEBT OF SAID CITY, AND DECLARING AN EMERGENCY. WHEREAS, the Chief Appraiser of the Hays County Appraisal District has prepared and certified the appraisal roll for the City of San Harcos, Texas, said roll being that portion of the approved appraisal roll of the Hays County Appraisal District which lists property taxable by the City of San Marcos, Texas; and, HHEREAS, on receipt of said appraisal roll, the Tax Assessor for the City of San Marcos, Texas, has performed the statutory calculations required by Section 26.Ø4, Tax Code, V.T.C.A., and has publicized the effective tax rate, the rollback tax rate, an explanation of how they were calculated; and has fulfilled all other requirements for publication as contained in Section 26.Ø4(e) of said Tax Code, in a manner designed to come to the attention of all residents of said City and has submitted said rates to the City Council of said City at the meeting of Auqust 16, 1989 ; and, HHEREAS, the City Council has complied with all applicable requirements of the Tax Code, V.T.C.A., prior to the setting of the tax rate for said City for 1989; now, therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1. That the tax rate for the City of San £Vlarcos, Texas, for the tax year 1989 be, and is hereby, set at :fifty-nine aI].Q se.Yentl-tWQ.....QIle.-1Lundt;'~thßcel~. -ill..iJ on each one hundred dollars ($lØØ) 0 the taxable value of real and personal property not exempt from taxation by the constitution and laws of this state situated within the corporate limits of said City. SECTION 2. That there is hereby levied for the tax year 1989 upon all real and personal property not exempt from taxation by the constitution and laws of this state situated within the corporate limits of said City, and there sha 11 be collected for the use and support of the municipal government of said City of San ~1arcos, Texas to provide a sinking fund for the retirement of the bonded debt of said City and to provide for permanent improvements in said City, said tax; and said tax, so levied and collected, shall be apportioned to the specific purposes hereinafter set forth; to-wit: A. For the payment of current expenses and to be deposited in the general fund (for the purposes of maintenance and operation) fort -six and nine one hundreths cents ($ .4609 on each one hundred dollars of the taxable value of such property; and, B. To provide for a sinking fund for the payment of the principal and interest and the retirement of the bonded debt, as the same shall become due thirteen and sixty-three one hundreths cents ($ .1363) on each one hundred dollars ($lØØ) 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. That the Tax Assessor is hereby authorized to assess and collect the taxes of said City employing the above tax rate.