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<br />RESOLUTION 2006- 183 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, APPROVING AN AGREEMENT <br />BETWEEN THE CITY, UNION PACIFIC RAILROAD AND <br />CARMA BLANCO VISTA, LTD. FOR THE CONSTRUCTION <br />OF THE YARRINGTON ROAD RAILROAD OVERPASS; <br />AUTHORIZING THE CITY MANAGER TO EXECUTE THE <br />AGREEMENT ON BEHALF OF THE CITY, AND DECLARING <br />AN EFFECTIVE DATE. <br /> <br />RECIT ALS: <br /> <br />1. The City Council created Tax Increment Reinvestment Zone No. Two in <br />March of 2005 for the purpose of providing financing to reimburse a portion of the costs <br />associated with the construction of a railroad overpass for Yarrington Road. <br /> <br />2. In September 2006 the City approved a Project and Financing Plan for the <br />Zone and a Reimbursement Agreement between the City and Carma Blanco Vista, Ltd. <br />(Carma). In part these plans and agreements call for Carma to incur all the costs of the <br />project and for Carma to bear responsibility for all construction related activity. <br /> <br />3. The attached draft New Public Road Crossing Developer's Agreement among <br />Union Pacific Railroad Company (UPRR), Carma and the City of San Marcos, for the <br />construction of the Yarrington Road Railroad Overpass signifies UPRR's agreement to the <br />construction overpass. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. The attached draft New Public Road Crossing Developer's Agreement <br />among Union Pacific Railroad Company, Carma Blanco Vista, Ltd. and the City of San <br />Marcos, for the construction of the Yarrington Road Railroad Overpass is approved, <br />contingent upon the conditions stated in Part 2 below having been satisfied at the time the <br />final agreement is executed. <br /> <br />PART 2. At the time the final New Public Road Crossing Developer's <br />Agreement is executed, the City and Carma shall have executed an additional agreement <br />whereby Carma agrees to assume all assume responsibility for all construction related <br />activity apportioned to the City under the New Public Road Crossing Developer's <br />Agreement. <br /> <br />PART 3. The City Manager, Dan O'Leary, is authorized to execute this <br />agreement on behalf of the City. <br /> <br />PART 4. That this Resolution shall be in full force and effect from and after its <br />passage. <br />