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<br />167. <br /> <br />RESOLUTION 2000- 35 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS, ADOPTING A POLICY ON TAX ABATEMENT AND OTHER <br />ECONOMIC DEVELOPMENT INCENTIVES FOR THE CITY OF SAN <br />MARCOS, TEXAS, AND DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. The City Council desires to promote economic development within San Marcos. <br /> <br />2. Providing tax abatement and other economic development incentives within <br />the City and its extraterritorial jurisdiction will likely contribute to the economic development <br />of San Marcos by encouraging major investment and the creation of jobs. <br /> <br />3. The Property Redevelopment and Tax Abatement Act, Chapter 312 of the Texas <br />Tax Code, requires the City to establish guidelines and criteria for tax abatement before <br />entering into a tax abatement agreement. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. The City of San Marcos elects to continue its eligibility to participate in <br />tax abatement. <br /> <br />PART 2. The attached Policy on Tax Abatement and Other Economic Development <br />Incentives is approved and adopted. <br /> <br />PART 3. This resolution shall be full force and effect from and after its passage. <br /> <br />Adopted this 14th <br /> <br />day of <br /> <br />Februarv <br /> <br />,2000. <br /> <br />b~~.~ <br /> <br />Billy G. Moore <br />Mayor <br /> <br />ATTEST: <br /> <br />i}j~' / dj' /J ~ / <br />~L \ J if\ / <br />I ,~j // '; '4/ <br />L f1;v~u)(; r I {);~lMJt-, <br />Janis K. Womack <br />City Secretary <br />