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<br />197. <br /> <br />RESOLUTION 2000 - 158 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS APPROVING AMENDMENT NO.1 TO <br />THE TAX ABATEMENT AGREEMENT BETWEEN THE CITY <br />AND TEXAS COUNTRY CLUBS, INC. TO EXTEND THE <br />PERIOD OF TIME FOR THE PURCHASE OF PROPERTY; <br />AUTHORIZING THE CITY MANAGER TO EXECUTE THE <br />AMENDMENT; AND DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. Texas Country Clubs, Inc. (the "Developer") is developing Hotel/Golf Course! <br />Convention Center facilities (the "Project") at the intersection of Posey Road and the Old <br />Bastrop Road in San Marcos, Hays County, Texas. <br /> <br />2. On April 11, 2000 the City entered into a Tax Abatement Agreement with the <br />Developer for the purpose of providing options for the purchase of real property for the <br />Project. <br /> <br />3. The attached Amendment would allow the Developer additional time in which to <br />purchase the necessary real property for the Project. <br /> <br />IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />PART 1. The City Council expressly waives the requirement in Section 1.02 of <br />the Tax Abatement Agreement that the Developer purchase the real property for the <br />Project by July 31, 2000. <br /> <br />PART 2. The attached Amendment NO.1 to the Tax Abatement Agreement <br />between the City and Texas Country Clubs, Inc. is approved. <br /> <br />PART 3. The City Manager, Larry D. Gilley, is authorized to execute the <br />Amendment No. 1 to the Tax Abatement Agreement. <br /> <br />PART 4. <br />passage. <br /> <br />This Resolution shall be in full force and effect from and after its <br /> <br />ADOPTED this 28th <br /> <br />day of <br /> <br />August <br /> <br />2000. <br /> <br />2 ' <br />I <U1'4'~ <br />avid Chiu <br />Mayor <br /> <br />Atte1t: . ), l . <br />C~M{~i~i IjVt'I~U{Jt/ <br />JcUs K. WomacK <br />City Clerk <br />