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173. RESOLUTION NO. 2004- --.B..2 R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING A CAPITAL IMPROVEMENT AGREEMENT BETWEEN THE CITY AND RIO MARC DEVELOPMENT, LTD. RELATED TO THE EL CAMINO REAL SUBDIVISION; AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEtvfENT ON BEHALF OF THE CITY; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. T11e Subdivision Chapter (Chapter 110) of t11e San Marcos City Code provides for the installation of certail1 public improvements associated with new subdivisions. City Code Section 110.089 provides for the City to bear a portion of the cost of curb and gutter and paving on any street witI1in a subdivision along the boundary of a park area being dedicated to the City. 2. T11e City desires execute an agreement with Rio Marc Development, Ltd. (the "Developer") for sharing the cost of roadway improvements (the "Road Improvements") along the boundary of a park area to be dedicated to the City in connection with t11e El Camino Real Subdivision (the "Subdivision"). 3. The Developer has provided the City with the cost estimate oft11e Developer's engineer for the construction of the Road Improvements, and the Developer 113S otherwise Sllbstantiated all costs for which it is requesting cost participation to the City's satisfaction.. 4. The City and the Developer 11ave agreed to allocate the cost of the Road Improvements as described in t11is Agreement. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The terms and conditions of the attached Capital Improvement Agreement between the City and the Developer related to the construction of the Road Improvements are approved. PART 2. The City Manager, Dan O'Leary, is authorized to execute the agreement on behalf of the City. PART 3. This Resolution s11all become effective immediately from and after its passage. ADOPTED 011 May 10, 2004.