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<br /> 125 <br /> RESOLUTION 1998-- 71 R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br /> TEXAS, APPROVING THE TERMS AND CONDITIONS OF AN ADVANCE <br /> FUNDING AGREEMENT BETWEEN THE CITY AND THE TEXAS <br /> DEPARTMENT OF TRANSPORTATION FOR THE IH-35/CENTERPOINT <br /> ROAD OVERPASS PROJECT; AUTHORIZING THE CITY MANAGER TO <br /> EXECUTE THE AGREEMENT ON BEHALF OF THE CITY; AND <br /> DECLARING AN EFFECTIVE DATE. <br /> RECITALS: <br /> 1. The Texas Department of Transportation ("TXDOT") has requested the City <br /> to execute the attached Advance Funding Agreement for improvements to be made by <br /> TXDOT at the intersection of Interstate Highway 35 and Centerpoint Road (the "Project") <br /> in San Marcos, Hays County, Texas. <br /> 2. The Agreement requires the City to donate $1,000,000 towards the cost of <br /> the Project, which consists of the elevation of the Interstate Highway 35 main lanes over <br /> Centerpoint Road. <br /> 3. Sac-N-Pac Food Stores, Inco, Tanger Properties Limited Partnership and San <br /> Marcos Factory Shops, Ltd. have agreed to contribute a total of $700,000 towards the <br /> City's cost of the Project. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br /> TEXAS: <br /> PART 1. The terms and conditions of the Advance Funding Agreement attached <br /> to this Resolution between the City and TXDOT for the Project are approved. <br /> PART 2. The City Manager, Larry D. Gilley is authorized to execute this <br /> Agreement on behalf of the City. <br /> PART 3. That this Resolution is in full force and effect immediately from and after <br /> its passageo <br /> ADOPTED this 13tblay of April ,1998. <br /> P:s~~ . ~ <br /> Billy G. Moore <br /> Mayor <br /> ?Z ~ 1J( ø~V <br /> Ja is Ko Womack <br /> City Secretary <br />