11161978 Special Meeting - Laserfiche WebLink

Home Browse Search

106 SPECIAL MEETING OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, NOVEMBER 16, 1978 Present: .Maypr. Robert L. Cavazos Council Members Frank T. Arredondo Ted Breihan John A. Hansen Bob Hyatt Berry R. James Kenneth E. Sutton I ., Acting City Manager Albert Sierra City Secretary Doriss Hambrick City Attorney Charles E. Evans Also present: Alan King; Ray Kotowski; Gordon Thompson; Joe Farren; Charles Stone; and others. The Mayor called themeeting to order at 6:08 p.m. I Mr. Arredondo moved the Council recess to Executive Session. Mr. Hansen seconded the motion, which passed unanimously. The meeting was reconvened in Special Session at 7:20 p.m. on motion of Mr. Hansen and second of Mr. James. The Mayor reported that the Council had discussed pending litigation and had also met with Mr. Joe Ferran of the Texas Industrial Commission and Mr. Gordon Thompson of the San Marcos Chamber of Commerce c,nd Industrial Development Committee. Mr. Thompson explained that a prospective industrial developer was interested in the San Marcos area but did not wish to make a public committment at the present time. Mr. Ferran described the process by which the City could establish a non-profit industrial development corporation to issue revenue bonds for the purpose of creating employment in the community. The money could be used to purchase property and construct an industrial facilit~ which could then be leased. The City would incur no liability for repayment of the bond funds and would be beneficiary of the land and improvements when the bonds were paid off. Mr. Ferran also informed the Council that they might be able to negotiate with the industry to advance funds for initial expenses prior to the sale of the bonds and that Economic Development Funds might be available to pay for a portion of the cost of extension of utilities to the industrial site. Council agreed to take action in the form of a committment to create such a corporation at the next regular meeting. At 8:05 p.m. th~ Council recC'ssed to Executive Session on motion of Mr. Hyatt and secon, of Mr. Hansen. The meeting was reconvened at 8:20 p.m. on motion of Mr. Hansen and second of Mr. James. Mr. Cavazos reported that the Council had discussed certain aspects of the proposed industrial development which could not yet be made public. The meeting adjourned at 8:23 p.m. on motion of Mr. Breihan and second of Mr. Hansen. I ?~~ Robert L. Cavazos Mayor ;;:2~ Doriss Hambrick City Secretary