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<br /> b¿ <br /> RESOLUTION 1993- 61 R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br /> OF SAN MARCOS, TEXAS, APPROVING THE TERMS AND <br /> ,CONDITIONS OF A TAX ABATEMENT AGREEMENT <br /> BETWEEN THE CITY OF SAN MARCOS AND ARUNKUMAR <br /> AMIN, CHANDRIKA AMIN AND NIRAV AMIN,' <br /> AUTHORIZING THE CITY MANAGER TO EXECUTE THE <br /> AGREEMENT AND DECLARING AN EFFECTIVE DATE. <br /> WHEREAS, the city Council has voted to create the San Marcos <br />Reinvestment Zone No. 7; and, <br /> WHEREAS, Arunkumar Amin, Chandrika Amin and Nirav Amin (the <br />"Amins ") own the property included in this Reinvestment Zone; and, <br /> . ' <br /> WHEREAS, the Amins wish to enter into a tax abatement <br />agreement with the city of San Marcos pertaining to improvements to <br />this tract of property; now, therefore, <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> . <br /> PART 1. That the tax abatement agreement between the City of <br />San Marcos and the Amins, a copy which is attached hereto as <br />Exhibit A and incorporated herein for all purposes, is found to <br />satisfy all of the requirements of the City's "Policy on Tax <br />Abatement and Other Economic Development Incentives for the city of <br />San Marcos, Texas," in force at the time of submission of the <br />Amins' tax abatement application. <br /> PART 2. That the tax abatement agreement between the city of <br />San Marcos and the Amins, attached hereto as Exhibit A, is found to <br />satisfy all of the requirements of tþe 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 herein in their entirety. <br /> PART 4. That the terms and conditions of the Tax Abatement <br />Agreement between the city of San Marcos and the Amins, which is <br />attached hereto as Exhibit A and incorporated herein for all <br />purposes as though recited verbatim, are hereby approved and <br />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 12th day of APri\~1993' ,~ <br /> Ka M. MUS <br /> Mayor <br />_A~est: . ~m ) 'Ie' ß~ <br />:/(tÙ;1J . ~ ~~ <br />J.ðnis K. Womack <br />city Secretary ~~ ~-Gs;1 <br /> \ïl ÚJ\. ~ ~d-.-. r") <br /> eç.,~~ (' <br /> L..)~~~' <br /> '- <br /> 6 ~ -J'-JLCJb.-~ <br />