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135. Regular Meeting August 9, 2004 Page 4 Center and roadway elements of the project, or call an election on the issuance of General Obligation Bonds to provide this funding. B. How to make up the budget shortfalls the Staff has projected with respect to ongoing revenues and expenses associated with the project. Mayor Narvaiz stated several citizens have signed up to speak regarding this issue. 1) Randolph Goodman stated he is the Business and Community Liaison for the Gary Job Corps Center here in San Marcos, Texas. He stated he has seen where good people sit back and wait for good people to act. All good people must stand up and stand for what they believe in. He stated he feels the Convention Center/Resort is a good idea for the City of San Marcos for the County of Hays and for the State of Texas. He stated he is also on the Board of Directors with the Hispanic Chamber, and they have signed a Resolution of support. He stated this project will create new jobs. 2) Lorraine Spencer encouraged the Council to consider allowing the Hotel/Conference Center to go to a General Obligation Bond vote. She stated she is a teacher and she tries to impress upon her students how important it is for them to be able to exercise their vote. Mayor Narvaiz stated the Council needs to decide on Item A, which is whether to issue Certificates of Obligation to provide funding for the Conference Center and roadway elements of the project, or call an election on the issuance of General Obligation Bonds. Mr. Taylor inquired whether there is a compelling reason the Council cannot wait the three or four months in order to have a General Obligation Bond election. Dan Rogers, Economic Development Director, stated the first meeting with Mr. John Q. Hammons was in October. He stated Mr. Hammons originally found a site near the Outlet Malls, and then in December he found another site above Aquarena Springs. He stated at that time Mr. Hammons' vision of a Convention Center/Hotel changed to a Resort/Convention Center. He stated Mr. Hammons builds about six or seven projects per year and has committed to fourteen projects for 2004 and 2005, which includes the one in San Marcos. Mr. Rogers stated the farther we push out this project, the more chance the City has that this project will not occur. He also stated Mr. Hammons has been contacted by numerous other people in our area about considering their cities and Mr. Hammons has told them he is committed to San Marcos at this time. Mr. Taylor stated he feels the job of this Council is to decide what is best for San Marcos in the future and move in that direction. Mr. Mihalkanin stated he feels the decision regarding the proposed Convention Center/Resort is not an issue of capability, but an issue of responsibility. He stated Council has approved multi-million dollar bonds for greenspace, annual budgets of $81,000,000 and regularly approve substantial amounts of money to expended that affect all of this community. He also stated Council has spent hours reviewing, researching information and in negotiations with Mr. Hammons. He also stated he has the highest respect for fellow citizens, but believes this is an issue the Council needs to decide on. Mr. Bose stated he feels the decision of the proposed Convention Center/Resort should be voted on by the citizens of San Marcos for the following reasons: 1) Hotel/Conference is not only going to affect us, but will affect future generations. He stated he feels