Res 2024-021 approving a Chapter 380 Economic Development Incentive Agreement with Buc-ee’s San Marcos, LLC that provides incentives in the form of refunds of 50 percent of sales taxes generated by the company

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8.16 Effective Date. This Agreement shall be binding and take effect only upon all Parties signatures hereto, attachment of all required exhibits, and receipt by the Parties of a frilly executed copy hereof. For the purposes of timetables provided in this Agreement,the Effective Date shall be the date first above written. 8.17 Legal Contest. This Agreement is entered into in accordance with applicable law as understood by the Parties. In the event any part,provision or paragraph hereof shall become unenforceable by reason of judicial decree or determination,the Parties agree to the extent possible to ensure that all other provisions of this Agreement, including the intent of this Agreement,be honored and performed. 8.18 Economic Incentives Constitute a Program. This Agreement constitutes an economic development program to promote state or local economic development and to stimulate business and commercial activity in the City and the area annexed for limited purposes pursuant to Article III, Sec. 52- a,Texas Constitution and Chapter 380,Texas Local Government Code. 8.19 Public and Confidential Information.Information provided by or on behalf of Developer pursuant to this Agreement that Developer considers to be proprietary and/or confidential and marked as such shall be maintained by City as confidential to the extent allowed by law. If proprietary financial or trade secret information is requested under the Texas Public Information Act("Act"),City shall follow the standards set out in the Act and under the Texas Attorney General's procedures for such requests and Developer shall be responsible for defending the confidentiality of such information. 8.20 Automatic or Optional Termination. a. In the event Developer elects not to proceed with the acquisition of the Property or the development of the Project, Developer will notify City in writing and this Agreement and the obligations of the Parties hereunder shall automatically terminate and be of no further force or effect as of the date of such notice. b. If Hays County does not approve a Chapter 381 economic development incentive agreement acceptable to Developer prior to acquiring the Property, Developer may, at its option, notify City in writing and this Agreement and the obligations of the Parties hereunder shall automatically terminate and be of no further force or effect as of the date of such notice. If a term, covenant or condition of this Agreement does not have an earlier express termination date, all terms covenants and conditions of this Agreement shall automatically terminate upon the expiration of the Project Term. 8.21 Undocumented Workers. During the term of this Agreement and in accordance with Chapter 2264 of the Texas Government Code, Developer agrees to not knowingly employ any undocumented worker and if convicted of a violation under 8 U.S.0 § 1324a(f), grant payments shall terminate. 8.22 Disclosure of Interested Parties. Developer agrees that it shall comply with the requirements of Section 2252.908 by filing form 1295 with the Texas Ethics Commission to the extent applicable. 8.23 Incorporation of Recitals. The Recitals set forth hereinabove are declared true and correct and are hereby incorporated into and made a part of this Agreement for all purposes. Economic Development Agreement