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<br />133. <br /> <br />RESOLUTION NO. 2005-~R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, APPROVING THE TERMS AND <br />CONDITIONS OF AJ.\1ENDMENT NO. 3 TO THE <br />DEVELOPMENT AGREEMENT BETWEEN THE CITY AND <br />COTTONWOOD CREEK JDR, LTD. CONCERNING THE <br />COTTONWOOD CREEK DEVELOPMENT; AUTHORIZING THE <br />CITY MANAGER TO EXECUTE THE AMENDMENT; AND <br />DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. The City Council approved a development agreement on September 24, 2002 (the <br />"Agreement") with the Vision Land Group, predecessor to Cottonwood Creek JDR, Ltd. (the <br />"Developer") regarding the Cottonwood Creek development along State Highway 123 South. <br /> <br />2. The City and the Texas Department of Transportation ("TXDOT") are negotiating an <br />agreement for the City to provide funding for improvements to State Highway 123 South, some of <br />which are related to the Cottonwood Creek development. <br /> <br />3. The City is willing to include improvements to State Highway 123 South related to the <br />Cottonwood Creek development in the City's agreement with TXDOT if the Developer provides <br />funding for the improvements. <br /> <br />4. The City and the Developer wish to amend the Agreement to provide for the Developer to <br />provide funding for the improvements to State Highway 123 South related to the Cottonwood Creek <br />development. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />P ART 1. The terms and conditions of the attached Amendment No.3 to the Agreement are <br />approved. <br /> <br />PART 2. The City Manager, Dan O'Leary, is authorized to execute the amendment on behalf <br />ofthe City. <br /> <br />P ART 3. This Resolution is in full force and effect immediately from and after its adoption. <br /> <br />ADOPTED on July 19, 2005. <br /> <br />~D-~ <br /> <br />Mayor <br />