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Regular Meeting September 19, 2006 Page 5 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING AN INTERLOCAL AGREEMENT BETWEEN THE CITY AND GUADALUPE BLANCO RIVER AUTHORITY FOR PROVISION OF WATER SAMPLE HANDLING; AUTHORIZING THE CITY MANAGER TO EXECUTE THIS AGREEMENT ON BEHALF OF THE CITY; AND DECLARING AN EFFECTIVE DATE. Mayor Narvaiz introduced for consideration Item 36, adoption of an Ordinance on emergency, which is listed later on the Agenda, the caption which was read as follows: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING A PROJECT PLAN AND REINVESTMENT ZONE FINANCING PLAN FOR CITY OF SAN MARCOS TAX INCREMENT REINVESTMENT ZONE NO. TWO; INCLUDING PROCEDURAL PROVISIONS; AND DECLARING AN EMERGENCY. Mr. Bose moved for adoption of an Ordinance on emergency with amendments, and Mr. Guerrero seconded the motion. Mr. Taylor stated the amendments he passed out to the Council were regarding zoning changes the Council adopted last year. He stated the purpose for TRIZ No. Two is to provide financing to reimburse a portion of the cost associated with the construction of a railroad overpass on Yarrington Road at its intersection with the Union Pacific Railroad tracks. The costs incurred by Carma will not be considered to be a debt of the City. He also stated neither the City nor the Zone will issue bonds or debt for any of the project costs. The Council voted unanimously for adoption of the Ordinance on emergency. Mayor Narvaiz introduced for consideration Item 27, removed from the consent agenda, adoption of a Resolution, the caption which was read as follows: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING REIMBURSEMENT AGREEMENT BETWEEN THE CITY AND CARMA BLANCO VISTA, LTD. RELATED TO TAX INCREMENT REINVESTMENT ZONE NO. TWO; AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENT; AND DECLARING AN EFFECTIVE DATE. Mr. Guerrero moved for adoption of Resolution and Mr. Mihalkanin seconded the motion. Mr. O?Leary stated in March of 2005, the Council created Tax Increment Reinvestment Zone No. Two in the northern portion of the City. He stated this TIRZ No. Two consists of approximately 577 acres of land, the bulk of which is contained in the proposed Blanco Vista development owned by Carma Blanco Vista, Ltd. The City has negotiated the agreement with Carma Blanco Vista Ltd to reimburse the costs of the railroad overpass. He provided the Council with the key features of the agreement. Mayor Narvaiz introduced the representative from Carma Blanco Vista, Ltd. Mr. Thomaides inquired to the number of Single Family homes. Shawn Cranston, Carma Blanco Vista Ltd., stated the majority of the homes will be Single Family homes. Mr. Thomaides inquired to when the first home would