Laserfiche WebLink
FIRST AMENDMENT TO INTERLOCAL AGREEMENT <br />This First Amendment (the "Amendment ') is made to the Interlocal Agreement <br />previously approved and executed between the City of San Marcos (the "City') and the Lone <br />Star Rail District (the "Rail District ") in order to set the City Tax Increment Payment into the <br />Tax Increment Fund at 50% of the incremental property tax revenue and 50% of the incremental <br />sales tax revenue generated within the Zone. <br />For and in consideration of the mutual benefits to be derived from this Amendment, the <br />City and the Rail District hereby agree as follows: <br />1. The City and the Rail District hereby amend Sections 4.03 and 4.04 of the Interlocal <br />Agreement to read as follows (changes shown in red font; added language is underlined and <br />deleted <br />language is shown with strikethroughs): <br />4.03. Tax Increment Payment by the City. The Tax Increment Payment by the <br />City from property taxes is hereby set and the City shall and the obligatiews of <br />contribute under this Section 4.03 one + 1 -gimi fifty 50 °o} percent of the Tax Increment <br />received by the City. <br />kip to fifty (50"o) pewent of the 4:a,* lfieFemew A, <br />t w}II <br />