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RESOLUTION NO. 2012-156R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, APPROVING A SECOND REVISION TO THE <br />COMMUNITY DEVELOPMENT BLOCK GRANT ( <br />REVOLVING LOAN FUND GUIDELINES; AUTHORIZING THE <br />CITY MANAGER TO IMPLEMENT FORMS, POLICIES AND <br />PROCEDURES AND EXECUTE REVOLVING LOANS UP TO FIFTY <br />THOUSAND DOLLARS THAT ARE CONSISTENT WITH THE <br />"SECOND REVISED PROGRAM GUIDELINES"; AND <br />DECLARING AN EFFECTIVE DATE, <br />RECITALS: <br />1. Prior to the City's designation as a CDBG entitlement city, the City Council <br />participated in a Revolving Loan Fund ( "RLF ") Program under the Texas Community <br />Development Program, and the City Council approved RLF Program Guidelines for the <br />process of qualifying applicants for funding under the program. <br />2. The City Council adopted a revised the RLF program guidelines by Resolution No. <br />2002 -217 that modified the terms and conditions of applicant eligibility, amortization <br />requirements, interest rates, maximum/minimum awards, project length and cost per job <br />created. <br />3. The City wishes to adopt a second revision of the RLF program guidelines. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS: <br />PART 1. The attached "Second Revised City of San Marcos Revolving Loan Fund <br />Program Guidelines" ( "Second Revised Program Guidelines ") is approved and adopted for use <br />by the City. <br />PART 2. The City Manager is authorized to: <br />(a) implement program forms, policies and procedures; <br />(b) authorize revolving loans up to $50,000.00; and <br />(c) execute revolving loan documents; <br />that are consistent with the "Second Revised Program Guidelines "; <br />PART 3. This resolution shall be in full force and effect from and after its passage. <br />1 <br />