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<br />HP 99Ji7 .1'11 ogq <br />. II.i .. ,. lm I !.I <br /> <br />"lr <br />,,)0. <br /> <br />TAXABATEMENTAGREEMENTBET~EN <br />THE CITY OF SAN MARCOS AND HAYS ENERGY, LIMITED PARTNERSHIP <br />FOR DEVELOPMENT OF POWER GENERATION FACILITY <br /> <br />This tax abatement agreement (this "Agreement") is entered into between the City of San <br />Marcos, Texas (the "City"), a Texas municipal corporation, and Hays Energy Limited Partnership <br />("Hays Energy"), a Texas limited partnership. <br /> <br />PART 1. GENERAL PROVISIONS <br /> <br />Section 1.01. This Agreement is authorized and governed by the Property Redevelopment <br />and Tax Abatement Act (Chapter 312 of the Texas Tax Code), and by the City's Policy on Tax <br />Abatement and Economic Development Incentives (the "Policy") adopted by Resolution on January <br />12, 1998. <br />Section 1.02. Hays Energy has an option to purchase the 109.36 acre tract of land (the <br />"Property") in Hays County, Texas described in the deed attached as Exhibit A. The Property meets <br />the eligibility criteria for tax abatement under the Policy. The Property is situated within the City <br />of San Marcos Reinvestment Zone No. 14 designated by separate ordinance by the City Council. <br />This Agreement will be effective only if Hays Energy purchases the Property. <br />Section 1.03. The Property is not part of an improvement project financed with tax <br />increment bonds. <br /> <br />Section 1.04. This Agreement is subject to the rights of the holders of outstanding bonds of <br /> <br />the City. <br />Section 1.05. The Property is not owned or leased by any member of the San Marcos City <br />Councilor any member of the City Planning and Zoning Commission. <br />Section 1.06. Hays Energy agrees to ensure that all of the improvements described below <br />will conform to all applicable City ordinances and regulations, including but not limited to the City's <br />Master Plan, and Chapter 5-Buildings and Building Regulations, Chapter 74-Streets and Sidewalks, <br />Chapter 94- Development Standards, Chapter 11 O-Subdivisions, and Chapter 114- Zoning, of the San <br />Marcos City Code. <br /> <br />?6f~,t# r;: <br /> <br />CITY OF SAN MARCOS <br />A TIN: Legal Dept <br />6S30 Ervflst AORklns Street <br />an larcos, TX 78666 <br />