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r. o~ <..) W-3 ~.~ u,:-::: < ~ >-~ ~ o:::c.:> <C~ ~ ~:z \()- 5 ~ ~ ~~ ~ ~~ Q~ 129. ORDINANCE 2000- -5..Q AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, DESIGNATING A REINVESTMENT ZONE NO. 17 PURSUANT TO CHAPTER 312 OF THE TEXAS TAX CODE, CONSISTING OF LOT NO.2 OF UNIT NO.2 OF THE THERMON INDUSTRIAL PARK NO.2 SUBDIVISION; MAKING STATUTORY FINDINGS; AND DECLARING AN EMERGENCY. RECITALS: 1. The City Council of the City of San Marcos, Texas, desires to promote the development of an area within its jurisdiction by the creation of a reinvestment zone, to be known as Reinvestment No. 17, as authorized by Chapter 312 of the Texas Tax Code. 2. A public hearing before the City Council on the creation of this reinvestment zone was held on Ju 1 y 10, 2000 at the regular meeting of the City Council, and this date was at least seven days after the date of publication of a notice concerning the public hearing in a newspaper of general circulation in the City. 3. A notice of this public hearing was delivered in writing to the presiding officer of the governing body of each taxing unit that includes in its boundaries real property that is to be included in the proposed reinvestment zone. 4. All statutory prerequisites to the creation of San Marcos Reinvestment Zone No. 17 have been met. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1. The facts and recitations contained in the Recitals of this ordinance are found and determined to be true and correct. SECTION 2. The City Council finds that the property to be included in San Marcos Reinvestment Zone No. 17, consisting of Lot 2 of Unit No.2, Thermon Industrial Park No.2 subdivision, as recorded in the Hays County Plat Records in Volume 5, Page 6 (the "Property"), is an area that is reasonably likely as a result of designation as a reinvestment zone to contribute to the retention or expansion of primary employment or to attract major investment in the zone that would be a benefit to the property and that would contribute to the economic development of the City of San Marcos. SECTION 3. The improvements sought to be made by the owners of the Property are found to be feasible and practical and would be a banefit to the land to be included in the zone and to the City of San Marcos after a tax abatement agreement covering the development of the property has expired. SECTION 4. The City creates a reinvestment zone to be known as San Marcos Reinvestment Zone No. 17 within and over the Property. SECTION 5. All ordinances and resolutions or parts of ordinances or resolutions in conflict with this ordinance are repealed. SECTION 6. If any word, phrase, clause, sentence, or paragraph of this ordinance is held to be unconstitutional or invalid by a court of competent jurisdiction, the other provisions of this ordinance will continue in force if they can be given effect without the invalid portion. SECTION 7. The importance of this Ordinance creates an emergency and an imperative public necessity, and the provisions of the Charter requiring that ordinances be presented at three separate meetings, and that ordinances do not take effect until ten (10) days after the date of its final passage are suspended, and this Ordinance will take effect upon publication of notice of its adoption in a 1