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RESOLUTION NO. 2013-175R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS APPROVING A CHAPTER 380 ECONOMIC <br />DEVELOPMENT INCENTIVE AGREEMENT WITH CORVAC <br />COMPOSITES, L.L.C. PROVIDING INCENTIVES IN THE FORM OF <br />ANNUAL REFUNDS OF 80 PERCENT OF PERSONAL PROPERTY <br />TAXES PAID OVER TEN YEARS TO LOCATE AUTOMOTIVE <br />RELATED MANUFACTURING OPERATIONS TO AN EXISTING <br />100,000 SQUARE FOOT FACILITY LOCATED AT 2350 CLOVIS <br />BARKER ROAD; AUTHORIZING THE CITY MANAGER TO EXECUTE <br />SAID AGREEMENT; AND DECLARING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The attached Chapter 380 Economic Development Incentive Agreement <br />(the "Agreement ") is hereby approved. <br />City. <br />PART 2. The City Manager is authorized to execute the Agreement on behalf of the <br />PART 3. This Resolution shall be in full force and effect immediately from and <br />after its passage. <br />ADOPTED on November 25, 2013. <br />D ieAGue r <br />Mayor <br />Attest: <br />