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- 196 . .,", RESOLUTION 1997- 74 R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, NOMINATING THE HADCO SAN MARCOS PLANT AS AN ENTERPRISE PROJECT; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. The Texas Department of Commerce ("Commerce") designated the City of San Marcos Enterprise Zone (the "Zone") in September 1989. 2. Commerce will consider the Hadco San Marcos plant pursuant to a nomination and an application made by the City of San Marcos, Texas (the "City"). 3. The City desires to pursue the creation of the proper economic and social environment in order to induce the investment of private resources in productive businesses enterprises located in the Zone and to provide employment to residents of the Zone and to other economically disadvantaged individuals. 4. Pursuant to Section 2303.404 of the Texas Enterprise Zone Act, Texas Government Code Chapter 2303 (the "Act"), Hadco has applied to the City for designation of its San Marcos plant as an enterprise project. 5. The City finds that the Hadco San Marcos plant meets the criteria for designation as an enterprise project on the following grounds: a. Hadco is a "qualified business" under Section 2303.402 of the Act since it will be engaged in the active conduct of a trade or business in the Zone and at least twenty-five percent (25%) of the business' new employees will be residents of a Zone within the City's jurisdiction or economically disadvantaged individuals; b. Hadco is located in the Zone which has an unemployment rate of not less than one and one-half (1-1/2) times the state unemployment rate; c. There has been and will continue to be a high level of cooperation between public, private, and neighborhood entities within the zone; and, ' d. The designation of Hadco San Marcos plant as an enterprise project will contribute significantly to the achievement of the plans of the City for development and revitalization of the Zone. 6. The City finds that Hadco meets the criteria for tax relief and other incentives adopted by the City and nominates Hadco's San Marcos plant on the grounds that it will be located wholly within the Zone, will create a high level of employment, economic activity and stability. 7. The City finds that it is in the best interests of the City to nominate the Hadco San Marcos plant as an enterprise project pursuant to the Act. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. That the findings of the City Council and its actions approving this resolution taken at the council meeting are hereby approved and adopted. PART 2. That Hadco is a "qualified business", as defined in Section 2303.402 of the Act, and meets the criteria for designation as an enterprise project.