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82 ~! ORDINANCE 1990-58 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, SETTING THE TAX RATE FOR THE 1990 TAX YEAR; LEVYING TAXES FOR THE USE AND SUPPORT OF THE MUNICIPAL GOVERNMENT OF THE CITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 1990, AND ENDING SEPTEMBER 30, 1991, PROVIDING A SINKING FUND FOR THE RETIREMENT OF THE BONDED DEBT OF THE 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, 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, WHEREAS, on receipt of this appraisal roll, the Tax Assessor for the City of San Marcos, Texas, has performed the statutory calculations required by Section 26.04 of the Texas Tax Code, 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 26.04(e) of the 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 July 30, 1990 ; and, WHEREAS, the City Council has complied with all applicable requirements of the Texas Tax Code prior to the setting of the tax rate for the City for 1990; 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 Marcos, Texas, for the tax year c~~~O is hereby set at fifty-nine and seventy-two one hundreths ($. 5972) on each one hundred dollars ($100) of the taxable value of real and personal property not exempt from taxation by the constitution and laws of this state situated within the corporate limits of the City. SECTION 2. That there is hereby levied for the tax year 1990 upon all real and personal property not exempt from taxation by the constitution and laws of this state situated within the corporate limits of the City, and there shall be collected for the use and support of the municipal government of the City of San Marcos, Texas to provide a sinking fund for the retirement of the bonded debt of the City and to provide for permanent improvements in the City, this tax; and this tax, so levied and collected, shall be apportioned to the specific purposes hereinafter set forth; to-wit: . A. For the payment of current expenses and to be deposited in the general fund (for the purpQses of maintenance and operation) forry-five ~nd eighty-two one hundreths cents ($.4582) on each one hundred dollars ($100) of the taxable value of such property; and, B. To provide for a sinking fund for the payment of the principal and interest and the retirement of the bonded debt, as the same shall become due thirteen and ninety one hundreths cents ($ .1390) on each one hundred dollars ($100) 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 the City employing the above tax rate.