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ORDINANCE NO. 2011- 42 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AMENDING ORDINANCE NO. 2004 -76 WHICH ORDAINED THE CITY'S PARTICIPATION IN THE TEXAS ENTERPRISE ZONE PROGRAM PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT, CHAPTER 2303, TEXAS GOVERNMENT CODE TO EXTEND ADDITIONAL INCENTIVES FOR QUALIFIED BUSINESSES UNDER SAID PROGRAM; NOMINATING THE CFAN COMPANY EXPANSION PROJECT IN THE CITY AS AN ENTERPRISE PROJECT UNDER THE TEXAS ENTERPRISE ZONE PROGRAM; INCLUDING PROCEDURAL PROVISIONS; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. The City Council of the City of San Marcos passed Ordinance No. 2004- 76 which ordained the City's participation in the Texas Enterprise Zone Program and established local incentives for qualified businesses and the City wishes to expand the incentives under said ordinance. 2. The City Council of the City of San Marcos, Texas (the "City ") desires to create the proper economic and social environment to induce the investment of private resources in productive business enterprises located in severely distressed areas of the City and to provide employment to residents of such area. 3. The Office of the Governor, Economic Development and Tourism Division (the "EDT "), through the Economic Development Bank (the "Bank "), will consider the proposed expansion of the CFAN Company ( "CFAN ") facility in the City of San Marcos as an enterprise project (the "Project ") pursuant to a nomination and application made by the City. 4. Pursuant to Subchapter F of the Texas Enterprise Zone Act, Texas Government Code Chapter 2303 (the "Act "), CFAN has applied to the City for designation of the Project as an enterprise project. 5. The City finds that the Project meets the City's Economic Development Incentives Policy on the grounds that it will be located at the qualified business site, and will create a higher level of employment, economic activity and stability. 6. Public hearings on the adoption of this Ordinance were held by the City Council on August 11 and August 16, 2011.