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<br /> 34 <br /> RESOLUTION 1995- 48 R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br /> OF SAN MARCOS, TEXAS, ADOPTING A POLICY ON TAX <br /> ABATEMENT AND OTHER ECONOMIC DEVELOPMENT <br /> INCENTIVES FOR THE CITY OF SAN MARCOS, TEXAS, <br /> AND DECLARING AN EFFECTIVE DATE. <br />RECITALS: <br />1. The City Council desires to promote economic development <br /> within San Marcos. <br />2. Providing tax abatement and other economic development <br /> incentives within the City and its extraterritorial <br /> jurisdiction will likely contribute to the economic <br /> development of San Marcos by encouraging major investment and <br /> the creation of jobs. <br />3. The Property Redevelopment and Tax Abatement Act, Chapter 3l2 <br /> of the Texas Tax Code, requires the City to establish <br /> guidelines and criteria for tax abatement before entering <br /> into a tax abatement agreement. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. That the City of San Marcos elects to continue its <br />eligibility to participate in tax abatement. <br />PART 2. That the attached Policy on Tax Abatement and Other <br />Economic Development Incentives is approved and adopted. <br />PART 3. That this resolution shall be full force and effect from <br />and after its passage. <br /> Adopted this 6th day of March , 1995. <br /> ¡~o~.~ <br /> Mayor <br />ATTEST: <br />c7.ql)~IvI~~ <br />L/ <br />Janis K. Womack <br />City Secretary <br />