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<br />:;';I; ~ <br />~~ <br />1U~ <br /> <br />~J 0 <br /> <br />.1( <br /> <br /> <br /> <br />85. <br /> <br />ORDINANCE 2000- ---L <br /> <br /> <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, DESIGNATING A REINVESTMENT <br />ZONE NO. 15 PURSUANT TO CHAPTER 312 OF THE TEXAS <br />TAX CODE, CONSISTING OF APPROXIMATELY 497 ACRES <br />OF LAND TO THE EAST OF THE 3700 AND 3800 BLOCKS OF <br />IH-35 SOUTH; MAKING STATUTORY FINDINGS; AND <br />DECLARING AN EFFECTIVE DATE. <br /> <br /> <br />~l; <br />j-. <br />u <br /> <br />RECITALS: <br /> <br />1. The City Council of the City of San Marcos, Texas, desires to promote the development of an <br />area within its jurisdiction by the creation of a reinvestment zone, to be known as Reinvestment No. <br />15, as authorized by Chapter 312 of the Texas Tax Code. <br /> <br />2. A public hearing before the City Council on the creation of this reinvestment zone was held on <br />December 13. 1999 at the regular meeting of the City Council, and this date was at least seven <br />days after the date of publication of a notice concerning the public hearing in a newspaper of general <br />circulation in the City. <br /> <br />3. A notice of this public hearing was delivered in writing to the presiding officer of the governing <br />body of each taxing unit that includes in its boundaries real property that is to be included in the <br />proposed reinvestment zone. <br /> <br />4. All statutory prerequisites to the creation of San Marcos Reinvestment Zone No. 15 have been <br />met. <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />SECTION 1. The facts and recitations contained in the Recitals of this ordinance are found and <br />determined to be true and correct. <br /> <br />SECTION 2. The City Council finds that the property to be included in San Marcos Reinvestment <br />Zone No. 15, consisting of approximately 497 acres ofland located to the east of the 3700 and 3800 <br />blocks ofIH-35 South, in the l.H. Yearby Survey, Abstract No. 508, Hays County, Texas, the legal <br />description for which is attached as Exhibit A (the "Property"), is an area that is reasonably likely <br />as a result of designation as a reinvestment zone to contribute to the retention or expansion of <br />primary employment or to attract major investment in the zone that would be a benefit to the <br />property and that would contribute to the economic development of the City of San Marcos. <br /> <br />SECTION 3. The improvements sought to be made by the owners of the Property are found to be <br />feasible and practical and would be a benefit to the land to be included in the zone and to the City <br />of San Marcos after a tax abatement agreement covering the development of the property has <br />expired. <br /> <br />SECTION 4. The City creates a reinvestment zone to be known as San Marcos Reinvestment Zone <br />No. 15 within and over the Property. <br /> <br />SECTION 5. All ordinances and resolutions or parts of ordinances or resolutions in conflict with <br />this ordinance are repealed. <br /> <br />SECTION 6. If any word, phrase, clause, sentence, or paragraph of this ordinance is held to be <br />unconstitutional or invalid by a court of competent jurisdiction, the other provisions of this ordinance <br />will continue in force if they can be given effect without the invalid portion. <br /> <br />SECTION 7. This Ordinance will take effect 10 days after the date of its final passage, and the City <br />Secretary will publish notice of its adoption in a newspaper of general circulation in the City. <br /> <br />APPROVED ON FIRST READING on December 13, 1999. <br /> <br />APPROVED ON SECOND READING on. January 10. 2000 <br />