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<br />136 <br />Ov. <br />F'f 0 1"\ . . ." r::. . " <br />í r 'M r- cr ~ (- <br />,~ " t) 8- 7 ' C l-..vt../ <br />" 1 '. . <br />~' - <br /> <br /> <br /> <br />STATE OF TEXAS <br />TAX ABATEMENT AGREEMENT BETWEEN THE CITY <br />COUNTY OF HAYS OF SAN MARCOS AND ROHR INDUSTRIES, INC. <br /> <br />CITY OF SAN MARCOS <br /> <br /> <br /> <br /> <br />This tax abatement agreement (this "Agreement"), is entered into <br /> <br />by and between the City of San Marcos (the "City"), Texas, a home rule <br /> <br />City and municipal corporation of Hays County, Texas, duly acting <br /> <br />~.......,. herein by and thr.,.o........U...9hl.'.ts City Council, and Rohr Industries, Inc. <br /> <br />. .,.. - D£l..Aw fj¡!?E <br />,,- ("Rohr"), aG3ti£urfl-ia corporation, acting by and through its <br /> <br />authorized officers. <br /> <br />I. <br />GENERAL PROVISIONS <br /> <br />A. This tax abatement agreement is authorized by the Property <br />Redevelopment and Tax Abatement Act, Chapter 312 of the Texas <br />Tax Code. <br /> <br />B. This Agreement is governed, also, by the City of San Marcos' <br />Guidelines Governing Tax Abatement and Other Economic <br />Development Incentives adopted by the City Council on January <br />23, 1989. <br /> <br />C. The City Council created a reinvestment zone to accommodate <br />the property owned by Rohr prior to the effective date of this <br />Agreement. <br /> <br />D. Rohr is the owner of the property which is the subject of <br />this Agreement and which is described in Exhibit A, which is <br />attached hereto and incorporated herein for all purposes. <br />Said property is solely within the tax abatement reinvestment <br />zone described above and is partly within the city limits of <br />the City of San Marcos and partly within the City's <br />extraterritorial jurisdiction. <br /> <br />E. The property is not part of an improvement project financed by <br />tax increment bonds. <br /> <br />F. This Agreement is entered into subject to the rights of the <br />holders of outstanding bonds in the City. <br /> <br />G. The property described in Exhibit A is not owned or leased <br />by any member of the San Marcos City Councilor any member of <br />the Planning Commission of the City or any member of the <br />Zoning Commission of the City or any member of the governing <br />body of any taxing units adopting this Agreement. <br /> <br />H. All proposed improvements, as described in part II, below, <br />shall conform to all applicable City ordinances and <br />regulations, including but not limited to th~ City's Master <br />Plan, the City's Subdivision Ordinance and the City's Zoning <br />Ordinance. <br /> <br />I. The tax abatement and economic development incentives provided <br />to Rohr in this agreement are intended to benefit the joint <br />venture between Rohr and the General Electric Corporation <br />known as Composite Technology Engine Components (CTEC) and <br />the assignment of the Agreement to either (i) CTEC or (ii) a <br />party providing project financing for CTEC to construct the <br />improvements herein contemplated is hereby approved. Rohr <br />is granted said abatements and incentives only to enable it to <br /> <br />property Record! <br />C.ounty T exO$ <br />