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• RESOLUTION NO. 2010-27R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, APPROVING A CHAPTER 380 ECONOMIC <br />DEVELOPMENT AGREEMENT BETWEEN THE CITY OF SAN <br />MARCOS, TEXAS AND 401 NORTH FREDERICKSBURG <br />ACQUISITION, L.L.C., PROVIDING FOR INCENTIVES IN THE FORM <br />OF REFUNDS OF A PORTION OF INCREASED REAL PROPERTY <br />TAXES COLLECTED OVER FIVE YEARS IN AN AMOUNT NOT TO <br />EXCEED $610,000.00; AUTHORIZING THE CITY MANAGER TO <br />EXECUTE SAID AGREEMENT; AND DECLARING AN EFFECTIVE <br />DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The terms and conditions of the attached Chapter 380 Agreement between <br />the City of San Marcos, Texas and 401 North Fredericksburg Acquisition, L.L.C. (the <br />"Agreement") are hereby approved. <br />PART 2. The City Manager, Rick Menchaca, is authorized to execute the <br />Agreement on behalf of the City. <br />PART 3. This Resolution shall be in full force and effect immediately from and <br />• <br />after its passage. <br />ADOPTED this the 2nd day of March, 2010. <br />Susan Narvaiz <br />(?L? 0-jj-6 <br />Mayor <br />Attest: <br />Sherry Mas urn <br />City Clerk <br />is