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<br />127 <br /> <br />RESOLUTION 1991- 127 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SAN MARCOS, TEXAS, APPROVING THE <br />TERMS AND CONDITIONS OF AMENDMENT NO. 1 <br />TO THE CITY'S TAX ABATEMENT AGREEMENT <br />WITH SAN MARCOS FACTORY STORES, LTD.: <br />AUTHORIZING THE CITY MANAGER TO EXECUTE <br />THE AMENDMENT ON BEHALF OF THE CITY: AND <br />DECLARING AN EFFECTIVE DATE. <br /> <br />WHEREAS, the City and San Marcos Factory Stores, Ltd. <br />(Factory Stores) desire to amend their tax abatement <br />agreement pertaining to property included in San Marcos <br />Reinvestment Zone No.5: to clarify the procedures under the <br />Agreement which will be given effect by the City and the Hays <br />County Appraisal District, and to broaden the purposes for <br />which a contribution by Factory Stores towards a public <br />transportation system may be used: now, therefore, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. That the proposed Amendment No. 1 to Tax Abatement <br />Agreement between the City of San Marcos and Factory Stores, <br />a copy of which is attached hereto, and incorporated herein <br />for all purposes, is hereby approved. <br /> <br />PART 2. That the City Manager of the City of San JI.1arcos, <br />Larry D. Gil1ey, is authorized to execute the proposed <br />amendment attached to this Resolution. <br /> <br />PART 3. That this resolution shal1 be in ful1 force and <br />effect from and after its adoption. <br /> <br />ADOPTED this <br /> <br />14th <br /> <br />day of <br /> <br /> <br />\ Kathy <br />Mayor <br /> <br />October <br /> <br />, 1991. <br /> <br /> <br />w.~ <br /> <br />Attest: . <br />~~~{J>/Prv&) <br />~~~' K. womatt.'IVJ <br />City Secretary <br />