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<br /> 78 <br /> RESOLUTION 1993 - 211 R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS, TEXAS APPROVING AN APPLICATION FOR FUNDING <br /> THROUGH THE TEXAS DEPARTMENT OF HOUSING AND <br /> COMMUNITY AFFAIRS SMALL BUSINESS INCUBATOR PROGRAM; <br /> AUTHORIZING THE CITY MANAGER TO ACT ON THE CITY'S <br /> BEHALF WITH REGARD TO THE SUBMISSION OF THIS <br /> APPLICATION; AGREEING TO PARTICIPATE IN PROGRAM <br /> INCOME RECAPTURE; AND DECLARING AN EFFECTIVE DATE. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> PART 1. That the City Council has reviewed and approves an <br />application for: <br />Small Business Incubator Program; San Marcos, Texas - $465,021.00 <br /> PART 2. That the City Council has reviewed and agrees to <br />comply with all assutrances executed in connection with the <br />application and, if funded the award. <br /> ~ <br /> PART 3. That the City Manager, Larry D. Gilley, is <br />authorized to execute the application and otherwise act on the <br />City's behalf in all matters pertaining to the submission of this <br />application. <br /> PART 4. That the City Council has reviewed and hereby agrees <br />to participate in program income recapture by returning the <br />State's prorata share of any proceeds from the San Marcos Small <br />Business Incubator Program property to the State for a period not <br />to exceed five years to be placed in a specially designated <br />Revolving Loan Fund to be used :Bor future economic development <br />activities at the local level. By agreeing to this measure, the <br />City understands that its eligibility, if any I shall be limited to <br />one Texas Capital Fund award per program year. <br /> PART 5. That this Resolution shall be in full force and <br />effect immediately from and after its passage. <br /> ADOPTED on this 6th day of December 1993. <br /> , <br /> ~~~ v1) l. fvlð-v~ <br /> Kathy M. Morris <br /> Mayor <br />Attest: <br />of. bY","~ Ø~¡^I~ <br />JànJ...s K. Womack <br />City Secretary <br />