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SECTION 3. The improvements proposed to be made by the owners of certain real property witltin <br />the Reinvestment Zone Area are fom~d to be feasible and practical and would be a benefit to the land <br />to be included in the Reinvestment Zone Area and to the City after a tax abatement agreement <br />covering the development of property in the Reinvestment Zone Area has expired. <br /> <br />SECTION 4. The City redesignates the Reinvestment Zone Area as San Marcos Reinvestment Zone <br />No. 3 for tax abatement pm-poses under Chapter 312 of the Texas Tax Code. <br /> <br />SECTION 5. All ordinances and resolutions or parts of ordinances or resolntions in'cmrtlict with <br />this ordinance are repealed. <br /> <br />SECTION 6. If any word, phrase, clause, sentence, or paragraph of this ordinance is held to be <br />unconstitutional or invalid by a court of competent jurisdiction, the other provisions of this ordinance <br />will continue in force if they can be given effect without the invalid portion. <br /> <br />SECTION 7. The importance of this Ordinance creates an emergency and an imperative public <br />necessity, and the provisions of the Charter requiring that ordinances be presented at three separate <br />meetings, and that ordinances do not take effect tmtil ten days after the date of its final passage are <br />suspended, and this Ordinance will take effect upon publication of notice of its adoption in a <br />newspaper of general circulation within the City. <br /> <br />PASSED, APPROVED AND ADOPTED on March 3, 2003~i. <br /> <br /> Robert B. Habingreither <br /> Mayor <br /> <br />Attest: <br /> <br />City Clerk <br /> <br />Approved: <br />Mark B. Taylor~~ <br />City Attorney <br /> <br />PIIBLISltEB IN THE SAN MARCOS DAILY RECORD ON FRIDAY, MARCH 7, 2003. <br /> <br /> 2 <br /> <br /> <br />