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' U ORDINANCE NO. 2005 -�� AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, REDESIGNATING REINVESTMENT ZONE NO.2 FOR TAX ABATEMENT PURPOSES PURSUANT TO CHAPTER 312 OF THE TEXAS TAX CODE, CONSISTING OF 110.859 ACRES OF PROPERTY, MORE OR LESS, LOCATED IN THE 3000 AND 3100 BLOCKS OF I11-35 NORTH AND THE 1900 AND 2000 BLOCKS OF TECHNOLOGY WAY; MAKING STATUTORY FINDINGS; AND INCLUDING PROCEDURAL PROVISIONS. RECITALS: 1. The City Council originally designated the San Marcos Reinvestment Zone No. 2 in Ordinance No. 1989 -16, on May 22, 1989. 2. The City Council desires to promote the development of an area within its jurisdiction by redesignating San Marcos Reinvestment Zone No. 2, as authorized by Chapter 312 of the Texas Tax Code. 3. A public hearing before the City Council on the redesignation of this reinvestment zone was held on June 21, 2005 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. 4. 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. 5. All statutory prerequisites to the redesignation of Reinvestment Zone No. 2 as a reinvestment zone for tax abatement purposes under Chapter 312 of the Texas Tax Code 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. 2, consisting of 110.859 acres of property, more or less, located in the 3000 and 3100 blocks of IH -35 and the 1900 and 2000 blocks of Technology Way (the "Reinvestment Zone Area') as depicted on the attached map, 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 Reinvestment Zone Area that would be a benefit to 121 , o o Y " W CV Lo W Q J o -J .-4 �. W v ° =3 Y ' U ORDINANCE NO. 2005 -�� AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, REDESIGNATING REINVESTMENT ZONE NO.2 FOR TAX ABATEMENT PURPOSES PURSUANT TO CHAPTER 312 OF THE TEXAS TAX CODE, CONSISTING OF 110.859 ACRES OF PROPERTY, MORE OR LESS, LOCATED IN THE 3000 AND 3100 BLOCKS OF I11-35 NORTH AND THE 1900 AND 2000 BLOCKS OF TECHNOLOGY WAY; MAKING STATUTORY FINDINGS; AND INCLUDING PROCEDURAL PROVISIONS. RECITALS: 1. The City Council originally designated the San Marcos Reinvestment Zone No. 2 in Ordinance No. 1989 -16, on May 22, 1989. 2. The City Council desires to promote the development of an area within its jurisdiction by redesignating San Marcos Reinvestment Zone No. 2, as authorized by Chapter 312 of the Texas Tax Code. 3. A public hearing before the City Council on the redesignation of this reinvestment zone was held on June 21, 2005 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. 4. 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. 5. All statutory prerequisites to the redesignation of Reinvestment Zone No. 2 as a reinvestment zone for tax abatement purposes under Chapter 312 of the Texas Tax Code 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. 2, consisting of 110.859 acres of property, more or less, located in the 3000 and 3100 blocks of IH -35 and the 1900 and 2000 blocks of Technology Way (the "Reinvestment Zone Area') as depicted on the attached map, 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 Reinvestment Zone Area that would be a benefit to 121 ,