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<br />122. <br /> <br />RESOLUTION 2000- 85 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, APPROVING THE TERMS AND <br />CONDITIONS OF A TAX ABATEMENT AGREEMENT <br />BETWEEN THE CITY OF SAN MARCOS AND TEXAS <br />COUNTRY CLUBS, INC. FOR HOTEL, GOLF COURSE AND <br />CONVENTION CENTER F ACIUTIES TO BE CONSTRUCTED <br />ON THE SITE OF CITY REINVESTMENT ZONE NO. 16, NEAR <br />THE INTERSECTION OF POSEY ROAD AND OLD BASTROP <br />HIGHWAY; AUTHORIZING THE CITY MANAGER TO <br />EXFCUTE THE AGREEMENT; AND DECLARING AN <br />EFr BCTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. The City Council has adopted a policy on tax abatement and other economic development <br />incentives. <br /> <br />2. Texas Country Clubs, Inc. is proposing to construct a new hotel, golf course and <br />convention center on the site of City Reinvestment Zone No. 16, consisting of approximately 1,101 <br />acres near the intersection of Posey Road and Old Bastrop Highway, and h~ asked the City to <br />consider granting a tax abatement and other economic development incentives related to the <br />construction. <br /> <br />3. The City and Texas Country Clubs, Inc. wish to enter into a tax abatement agreement <br />pertaining to this development. <br /> <br />4. The property on which the proposed construction will be located is eligible for tax <br />abatement, and appropriate notice of this tax abatement agreement has been given to other taxing <br />entities. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />PART 1. The attached tax abatement agreement (the "Agreement") between the City of San <br />Marcos and Texas Country Clubs, Inc. is found to satisfy all ofthe requirements of the City's "Policy <br />on Tax Abatement and other Economic Development Incentives for the City of San Marcos, Texas",. <br /> <br />PART 2. The Agreement is found to satisfy all of the requirements of the Property <br />Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code. <br /> <br />PART 3. The recitals found in the preamble to this resolution are approved and adopted in <br />their entirety. <br /> <br />PART 4. The terms and conditions of the Agreement are approved and adopted. <br /> <br />PART 5. The City Manager of the City of San Marcos, Larry D. Gilley, is authorized to <br />execute the Agreement. <br /> <br />PART 6. This Resolution is in full force and effect immediately upon its passage. <br /> <br />ADOPTED this 10th day of April <br /> <br />, 2000. <br /> <br />~~~r~ <br /> <br />Mayor <br /> <br />~j:;st: . <br />j c. ; -</ <br />'J lr ..'. . / <br />C.I! . MruAA{ ~VOw'<Wv <br />J#ris K. Wo~~ ' <br />City Secretary <br />