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<br />43. <br /> <br />~ (I) <br />Ln 0 <br />~ c:::l ~~ <br />c::> a:ctl <br />C'-I w~ <br />W~ <::> -Ie:: <br />Jo CI':l Octl <br />:~ ~ ~~ <br />:::> -0 <br />0>- <br />~ <( - <br /> (3 <br /> <br />62 <br /> <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, DESIGNATING REINVESTMENT <br />ZONE NO. 21 FOR TAX ABATEMENT PURPOSES UNDER <br />CHAPTER 312 OF THE TEXAS TAX CODE, CONSISTING OF <br />275 ACRES OF PROPERTY, MORE OR LESS, LOCATED ON <br />THE WEST SIDE OF THE 2700 - 3400 BLOCKS OF NORTH IH- <br />35; MAKING STATUTORY FINDINGS; INCLUDING <br />PROCEDURAL PROVISIONS; AND DECLARING AN <br />EMERGENCY <br /> <br />ORDINANCE NO. 2005- <br /> <br />RECITALS: <br /> <br />1. The City Council desires to promote the development of an area within its jurisdiction by <br />designating San Marcos Reinvestment Zone No. 21, located on the west side of the 2700 - 3400 <br />blocks of North IH-35 as depicted on the attached map (the "Reinvestment Zone Area"), as <br />authorized by Chapter 312 of the Texas Tax Code. <br /> <br />2. A public hearing before the City Council on the designation ofthis reinvestment zone was <br />held on September 6 , 2005 at the regular meeting of the City Council, and this date was at <br />least seven days after the date of publication of a notice concerning the public hearing in a newspaper <br />of general circulation in the City. <br /> <br />3. A notice of this public hearing was delivered in writing to the presiding officer of the <br />governing body of each taxing unit that includes in its boundaries real property that is to be included <br />in the proposed reinvestment zone. <br /> <br />4. All statutory prerequisites to the designation of Reinvestment Zone No. 21 as a <br />reinvestment zone for tax abatement purposes under Chapter 312 of the Texas Tax Code have been <br />met. <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />SECTION 1. The facts and recitations contained in the Recitals ofthis ordinance are found <br />and determined to be true and correct. <br /> <br />SECTION 2. The City Council finds that the Reinvestment Zone Area is an area that is <br />reasonably likely as a result of designation as a reinvestment zone to contribute to the retention or <br />expansion of primary employment or to attract maj or investment in the Reinvestment Zone Area that <br />would be a benefit to the Reinvestment Zone Area and that would contribute to the economic <br />development of the City. <br /> <br />SECTION 3. The improvements proposed to be made by the owners of certain real property <br />