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<br /> 5 <br /> RESOLUTION 1994- 155 R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS, TEXAS, APPROVING THE TERMS AND CONDITIONS <br /> OF A TAX ABATEMENT AGREEMENT BETWEEN THE CITY OF <br /> SAN MARCOS AND MENSOR CORPORATION; AUTHORIZING THE <br /> CITY MANAGER TO EXECUTE THE AGREEMENT AND DECLARING <br /> AN EFFECTIVE DATE. <br />-- <br />, <br /> RECITALS: <br /> 1. The City Council has adopted a policy on tax abatement and <br /> other economic development incentives. <br /> 2. Mensor Corporation is proposing a merger with the Ruska <br /> Corporation óf Houston that will result in an expansion of Mensor's <br /> San Marcos operations, and has asked the city to consider granting <br /> a tax abatement and other economic development incentives related <br /> to the expansion. <br /> 3. Mensor wishes to enter into a tax abatement agreement with the <br /> City of San Marcos pertaining to this expansion. <br /> . <br /> 4. The property on which the proposed expansion will be located <br /> is eligible for tax abatement, and appropriate notice of this tax <br /> abatement agreement has been given to other taxing entities. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br /> TEXAS: <br /> PART 1. That the tax abatement agreement between the City of <br /> San Marcos and Mensor Corporation, a copy which is attached to this <br /> resolution, is found to satisfy all of the requirements of the <br />I City's "Policy on Tax Abatement an,d Other Economic Development <br /> Incentives for the City of San Marcos, Texas". <br /> PART 2. That the attached tax abatement agreement is found to <br /> satisfy all of the requirements of the Property Redevelopment and <br /> Tax Abatement Act, Chapter 312 of the Texas Tax Code. <br /> PART 3. That the recitals found in the preamble to this <br /> resolution are adopted in their entirety. <br /> PART 4. That the terms and conditions of the attached tax <br /> abatement agreement are approved and adopted. <br /> PART 5. That the City Manager of the City of San Marcos, <br /> Larry D. Gilley, is authorized to execute this agreement. <br /> PART 6. That this Resolution shall be in full force and <br /> effect from and after the date of its adoption. <br /> ADOPTED this 10th day of , 1994. <br /> VÎA,~ <br /> M. Morris <br />, Attest: , J <br />! <br />¡ ~ /1A~.;.Æ( /) ¡þ ~ <br /> Jð:nis K. Womack <br /> City Secretary <br />