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73 ORDINANCE 1985-90 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, SETTING THE TAX RATE FOR SAID CITY FOR THE 1985 TAX YEAR; LEVYING TAXES FOR THE USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT OF SAID CITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 1985, AND ENDING SEPTEMBER 30, 1986; 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 Marcos, Texas, said roll be that portion of the approved appraisal roll of the Hays County Appraisal District which lists property taxable by the C of San Marcos, Texas; and, WHEREAS, on receipt of said appraisal roll, Charles W. Stone, Tax Assessor-Collector for the City of San Marcos, Texas, has performed the statutory calculations required by Section 26.04 of the Texas Property Tax Code, and has ized the calculation of the effective tax rate in a manner des to come to the attention of all residents of said City and has submitted sa rate to the City Council of said City at the meeting of July 29, 1985; and, WHEREAS, the City Council has compl with all icable requirements of the Texas Property Tax Code to the setting of the tax rate for said City for 1985; now, therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1. That the tax rate for the C of San Marcos, Texas, for the tax year 1985 be, and is hereby, set at seventy-six cents ($ .76) on each one hundred dollars ($100) of the taxable value of real and personal property not exempt from taxat the constitution and laws of this state situated within the corporate limits of sa city. SECTION 2. That there is hereby lev for the tax 1985 upon all real and personal proper not exempt from taxation by the constitution and laws of this state situated the corporate limits of said City, and there shall be collected for the use and support of the municipal government of said City of San Marcos, Texas, to provide a sinking fund for the retirement of the bonded debt of said City and to provide for permanent improvements In said City, said tax; and said tax, so lev and collected, shall be apportioned to the speci c purposes hereinafter set forth; to-wit: A. For the payment of current expenses and to be ited in the fund (for the purposes of ntenance and operat ) sixty-three cents ($ .63 ) on each one hundred dollars ($100) of the taxable value of such property; and, B. To provide for a sinking fund for the payment of the principal and interest and the retirement of the bonded debt, as the same shall become due thirteen cents ($.13) on each one hundred dollars ($100) of the taxable value of such rty, or so much thereof, or so much more, if any, as shall be necessary to pay the ncipal and rest of the current year.