Res 1989-014 - Laserfiche WebLink

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AGREEMENT FOR DESIGNATION OF AN ENTERPRISE ZONE STATE OF TEXAS § COUN1Y OF TRAVIS § THIS AGREEMENT is made and entered into this 14th day of September, 1989, by and between the Texas Department of Commerce, an agency of the State of Texas, hereinafter referred to as "Department" and the City of San Marcos, Texas hereinafter referred to as "Unit" WITN ESS ETH: WHEREAS, the public policy of this state is to provide the people of this state with the necessary means to assist communities, their residents, and the private sector to create the proper economic and social environment to induce the investment of private resources in productive business enterprises located in severely distressed areas and to provide employment to residents of those areas; WHEREAS, the objective of the Texas Enterprise Zone Act, Texas Civil Statutes, Article 5190.7 (the Act) is to provide appropriate investments, tax benefits, and regulatory relief to encourage the business community to commit its financial participation (Sec. 2(b)); WHEREAS, the revitalization of enterprise zones through the concerteD efforts of government and private sector is declared a public purpose; WHEREAS, Unit requested Department to designate an area within its jurisdiction as an enterprise zone, which is described in Exhibit A and Exhibit B attached hereto; WHEREAS, Unit has filed its application on July 6, 1989, with Department for designation of an enterprise zone pursuant to the Act for the purpose of revitalizing the area described herein; WHEREAS, the governing body of Unit adopted a resolution on February 27, 1989, following a public hearing to nominate the area and made the necessary finding that the zone area meets the criteria for designation as an enterprise zone as set forth in the Act; WHEREAS, the Executive Director acting on behalf of Department authorized and approved the designation of the enterprise zone on September 14, 1989, under the terms and conditions of the Act and those set forth herein; WHEREAS, Unit has entered or will enter into agreements with Qualified Businesses, as defined in the Act and as further defined in its nominating resolution, in which the Qualified Businesses agree to maintain their status as Qualified Businesses in order to benefit from the local incentives available and in which Unit provides for certain local incentives, pursuant to the terms of the Act; NOW THEREFORE, in consideration of the respective representations and agreements herein contained, the parties hereto agree as follows: 1. REPRESENTATIONS. Department and Unit represent and warrant, as applicable, the following: Page 1 of 5