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158 RESOLUTION NO. 1982- 42R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, CITING THE DEVELOPMENT CORPO- RATION ACT OF 1979 (ARTICLE 5190.6), V.A.C.S., AS AMENDED, AND THE RULES GOVERNING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT BONDS IN TEXAS; DESCRIBING THE BOUNDARIES OF THE ELIGIBLE BLIGHTED AREA OF THE CITY OF SAN MARCOS, TEXAS AND PROVIDING A MAP OF SUCH AREA; DETAILING THE FINDINGS OF THE CITY COUNCIL OF SAN MARCOS, TEXAS, AS TO THE REASONS FOR THE DESIGNATION OF THE ELIGIBLE BLIGHTED AREA AND A DESCRIPTION OF THE OVERALL OBJECTIVES OF THE CITY OF SAN MARCOS, TEXAS FOR REDEVELOPMENT AND RECOVERY OF THE ELIGIBLE BLIGHTED AREA; FINDING AND REPRESENTING THAT THE AVAILABILITY OF FINANCING OF PROJECTS FOR COMMERCIAL USES WILL CONTRIBUTE TO THE ALLEVIA- TION OF THE BLIGHTED CONDITIONS EXISTING IN THE ELIBIBLE BLIGHTED AREA; DESCRIBING THE TYPES OF PROJECTS FOR COMMERCIAL USES DESIRED AND AUTHOR- IZED BY THE CITY OF SAN MARCOS, TEXAS TO ENHANCE REDEVELOPMENT EFFORTS IN THE ELIGIBLE BLIGHTED AREA, TOGETHER WITH A DESCRIPTION OF EXCLUSIONS OF COMMERCIAL USES; REPRESENTING THAT THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS WILL REVIEW ALL PROJECT DESCRIPTIONS FOR APPROVAL TO INSURE CONSISTENCY WITH REDEVELOPMENT OB- JECTIVES WITHIN THE ELIGIBLE BLIGHTED AREA; DESCRIBING PROPOSED PUBLIC IMPROVEMENTS TO BE MADE IN THE ELIGIBLE BLIGHTED AREA, THE COM- MENCEMENT DATES, THE CONSTRUCTION SCHEDULE, AND SOURCES OF FUNDING FOR SUCH IMPROVEMENTS AND DE- CLARING AN EFFECTIVE DATE. WHEREAS, the City of San Marcos, Texas is desirous of apply- ing for approval to sale industrial revenue bonds pursuant to authority granted by the Development Corporation Act of 1979 (Article 5190.6), V.A.C.S., as amended; and, vffiEREAS, the City Council of the City of San Marcos, Texas has completed its findings regarding the area to be designated as an Eligible Blighted Area and has concluded that a request to the Texas Industrial Commission is necessary to approve projects for commercial uses within such Eligible Blighted Area; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. That the Development Corporation Act of 1979 (Arti- cle 5190.6), V.A.C.S., as amended, and the rules promulgated by the Executive Director of the Texas Industrial Commission are hereby cited for authority. PART 2. That the description of the boundaries of the area to be designated as the Eligible Blighted Area of the City of San Marcos, Texas is as follows, to-wit: A description of the Eligible Blighted Area of the City of San Marcos, Texas is attached hereto as Exhibit "A" and by reference is incorporated herein for all pertinent purposes. A map delineating the hereinabove mentioned boundaries of the Eligible Blighted Area of the City of San Marcos, Texas is at- tached hereto as Exhibit "B" and by reference is incorporated herein for all pertinent purposes.