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major investment in the Reinvestment Zone Area that would be a benefit to the Reinvestment Zone <br />Area and that would contribute to the economic development of the City. <br /> <br /> SECTION 3. The improvements proposed to be made by the owners of certain real property <br />within the Reinvestment Zone Area are found to be feasible and practical and would be a benefit to <br />the land to be included in the Reinvestment Zone Area and to the City after a tax abatement <br />agreement covering the development of property in the Reinvestment Zone Area has expired. <br /> <br /> SECTION 4. The City redesignates the Reinvestment Zone Area as San Marcos <br />Reinvestment Zone No. 12 for tax abatement purposes under Chapter 312 of the Texas Tax Code. <br /> <br /> SECTION 5. All ordinances and resolutions or parts of ordinances or resolutions in conflict <br />with this ordinance are repealed. <br /> <br /> SECTION 6. If any word, phrase, clause, sentence, or paragraph of this ordinance is held to <br />be unconstitutional or invalid by a court of competent jurisdiction, the other provisions of this <br />ordinance will continue in force if they can be given effect without the invalid portion. <br /> <br /> SECTION 7. This Ordinance will take effect ten days after the date of its final passage, and <br />the City Clerk will publish notice of its adoption in a newspaper of general circulation in the City. <br /> <br />PASSED on first reading on }~arch 8, 2004. <br /> <br />PASSED on second reading on March 22, 2004. <br /> <br />PASSED, APPROVED AND ADOPTED on April !2, 2004. <br /> <br />Robert Habingreither <br />Mayor <br /> <br />Atte~t: <br /> <br />J~s K. Womac~ <br />Ci~ Clerk <br /> <br />Approved: <br />Mark B. Taylor~ <br />City Attorney <br /> <br />PUBLISHED IN THE SAN ¥~RCOS DAILY RECORD ON TUESDAY, APRIL 20, 2004. <br /> <br />2 <br /> <br /> <br />