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<br />32 <br /> <br />REINVESTMENT ZONE NUMBER ONE <br />CITY OF SAN MARCOS, TEXAS <br />SEPTEMBBR 30~ 1988 <br />ANNUAL REPORT <br /> <br />Pursuant to Section 311.016 of The Texas Tax Code, TEX. TAX <br />CODE ANN. §311.016 (Vernon 1988), the City Council of San Marcos, <br />Texas, submits the following report: <br /> <br />1. The amount of revenue in the Tax Increment Fund <br />established for Reinvestment Zone Number One, City of San Marcos, <br />Texas is zero. <br /> <br />2. <br />Fund. <br /> <br />There have been no expenditures from the Tax Increment <br /> <br />3. <br /> <br />There is no outstanding bonded indebtedness. <br /> <br />4. The tax increment base of the zone is $2,428,600.00. <br />captured appraised value has been retained by the Zone. <br /> <br />No <br /> <br />5. There lS no captured <br />increments have been received. <br /> <br />appraised <br /> <br />value <br /> <br />and <br /> <br />no <br /> <br />tax <br /> <br />6. Pursuant to the tax increment financing plan for the <br />Reinvestment Zone adopted by the City of San Marcos, a Public <br />Improvement Construction and Financing Agreement has been executed <br />between the City of San Marcos, Texas, and Financial Management <br />Group dated May 15, 1985. <br />