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<br />:1" <br />it -' <br />i...,,-,. ~n- <br />....!-~- <br />~ ~ ~ <br />'-iIl"~f <br /> <br />...:r <br /> <br />., <br />~J:3 <br /> <br />- <br /> <br />~ , <br />~=> <br /> <br />I <br /> <br />I <br /> <br />N <br /> <br />c/) <br /> <br />ORDINANCE NO. 2006- 47 <br /> <br />CJ <br />{_"I <br />[~:: <br /> <br />--".. - <br />t,......,.] <br /> <br />0- <br />l.LJ <br />c.n <br />..0 <br />= <br /><=> <br /> <br />~-,;~: 2~ ~ <br /> <br />:~~ :--,: (~" <br />.0-.",(':-) ~ <br />U 25r~ ~ <br />"-..,-" <br />,">- <br /> <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS APPROVING A PROJECT PLAN AND <br />REINVESTMENT ZONE FINANCING PLAN FOR CITY OF <br />SAN MARCOS TAX INCREMENT REINVESTMENT ZONE <br />NO. TWO; INCLUDING PROCEDURAL PROVISIONS; AND <br />DECLARING AN EMERGENCY. <br /> <br />j'"",-" <br /> <br />RECITALS: <br /> <br />1. WHEREAS, pursuant to Chapter 311 of the Texas Tax Code, the City Council designated <br />a 577 acre area of property located in the northern area ofthe City, between the Blanco River and the <br />Union Pacific Railroad tracks, as City of San Marcos, Texas Tax Increment Reinvestment Zone No. <br />Two (the "Zone") in Ordinance No. 2005-17 adopted on March 1,2005; and <br /> <br />2. WHEREAS, the City formed the Zone as a financing vehicle to reimburse costs <br />associated with the construction of a railroad overpass (the "Project") on Yarrington Road at its <br />intersection with the Union Pacific Railroad tracks in and near the city limits of the City, in Hays <br />County, Texas, for the purposes of improving mobility in the region, increasing safety and security <br />for area residents; and <br /> <br />2. WHEREAS, Ordinance No. 2005-17 also approved a preliminary project plan and <br />reinvestment zone financing plan for the Zone; and <br /> <br />3. WHEREAS, Section 311.011 ofthe Texas Tax Code requires the City Council to approve <br />a final project plan and reinvestment zone financing plan for the Zone after they are adopted by the <br />Board of Directors of the Zone; and <br /> <br />4. WHEREAS, the Board of Directors of the Zone has adopted the attached Project Plan and <br />Reinvestment Zone Financing Plan (the "Plan") for the Zone and has recommended approval of the <br />Plan by the City Council; and <br /> <br />5. WHEREAS, the City Council finds that the Plan is feasible, and conforms to the master <br />plan of the City and to the requirements of Section 311.011 of the Texas Tax Code; NOW, <br />THEREFORE, <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />SECTION 1. Findings. The facts and recitations contained in the preamble of this <br />Ordinance are hereby found and declared to be true and correct and are adopted as part of this <br />Ordinance for all purposes. <br /> <br />SECTION 2. Approval of Plan. The attached Project Plan and Reinvestment Zone <br />