San Marcos City Council Approves First Reading Of FY 2019 Tax Rate And CO For Milican Tract Purchase
The proposed tax rate matches the tax rate for FY 2018. The public hearing saw only one speaker, who spoke for the tax rate.
By, Terra Rivers, Managing Editor
On Tuesday, August 21, the San Marcos City Council held a regular meeting the consider the approval of the 2019 Fiscal Year tax rate, a notice of intention to issue combination tax and surplus revenue certifications of obligations and the purchase of approximately 27.094 acres of land.
City council members held the first of two public hearings on the proposed tax rate of “61.39 cents on each $100 of value of real property that is not exempt from taxation.”
The proposed tax rate matches the tax rate for FY 2018. The public hearing saw only one speaker, who spoke for the tax rate.
Council members approved the proposed tax rate on the first of two readings with a 6-0 vote. Council member Scott Gregson was absent.
On agenda item 19, Council considered the “approval of resolution 2018-151R directing publication of Notice of Intention to issue Combination Tax and Surplus Revenue certificates of obligation” for the acquisition of green space.
According to the Notice of Intention, the total aggregate principal amount will not exceed $1,935,000.
Heather Hurlbert, Finance Director for the city of San Marcos, said the obligation was for financing through the Texas Water Development Board for the Milican Tract, which the city closed on that week.
According to Hurlbert, the obligation will allow the city of San Marcos to purchase the land and then be reimbursed for $1,274,900 by the Texas Water Development Board; the reimbursement is the forgivable portion of a low-interest loan with TWDB.
Hurlbert said the city is scheduled to close on the bonds at the end of October. The Milican Tract is property located in the Edwards Aquifer Recharge Zone; the runoff from the property feeds into Sink Creek, which feeds into Spring Lake and the San Marcos River.
The agenda item was approved by a 5-0 vote. Council member Jane Hughson recused herself from the vote.
Mayor John Thomaides recused himself from agenda item 20: consider approval of ordinance 2018-152R approving the contract with the Texas Retail Partners, Inc. for the city to purchase 27.094 acres of land located on the South Side of Farris Street.
City council considered the purchase of land for stormwater drainage and possible greenway and open space purposes. The price of the property $475,000.
According to Phil Steve with the City of San Marcos, the property was originally purchased by the developer for the development of townhomes; however, the developer was required to perform a study and show that the proposed project “doesn’t damage the property around” it.
When the developer could not prove that, he decided to sell the property, Steve said.
Council voted to discussed agenda item 20 in executive sessions after Mayor Thomaides and Council member Hughson recused themselves.
The item passed 4-0 with Council member Gregson absent.
City council will return to the dais for the next regular meeting on September 3.
