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<br /> 144 <br /> RESOLUTION 1989-36R <br /> A RESOLUT ION OF THE CITY COUNCIL OF THE CITY <br /> OF SAN MARCOS, TEXAS APPROVING AN ECONOMIC <br /> DEVELOPMENT PROGRAM LOAN AGREEMENT vnTH <br /> ENVIRONMENTAL PROJECTION SYSTEMS, INC. AND <br /> HENRY OLES, DIRECTING THE CITY ATTORNEY AND <br /> DIRECTOR OF FINANCE TO CLOSE SAID LOAN, <br /> AUTHORIZING THE CITY MANAGER TO EXECUTE SAID <br /> LOAN AGREEMENT ON BEHALF OF THE CITY AND <br /> DECLARING AN EFFECTIVE DATE. <br />WHEREAS, the City of San Marcos and the Texas Department of <br />Commerce ( TDoC) effective December 15, 1988 did enter into an <br />agreement whereby TDoC would provide fund s pursuant to the U.S. <br />Housing and Community Development Act of 1974 to the City for the <br />purpose of conducting an economic development program including a <br />loan to Environmental Projection Systems, Inc. (EPS); and, <br />WHEREAS, pursuant to said Agreement with TDoC the City has <br />negotiated a loan agreement with EPS and Henry Oles; now, <br />therefore, <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. Tha t the terms and conditions of an economic development <br />program loan agreement with Environmental Projection Systems, <br />Inc., and Henry Oles, in the form attached hereto as Exhibit "A" <br />which is incorporated herein for all purposes, are hereby <br />approved. <br />PART 2. That the City Atto;r:pey and the Director of Finance for <br />the City of San Marcos are directed to close said economic <br />development program loan agreement. <br />PART 3. That the City Manager 0 f the City of San Marcos, Texas, <br />Larry D. Gilley, is authorized to execute said economic <br />development program loan agreement on behalf of the City. <br />PART 4. That this Resolution shall be in full force and effect <br />immediately from and after its passage. <br /> ADOPTED this the 24 day of April , 1989. <br /> ~~~ <br /> Mayor <br />lest:~ r rJ <br />I .. v . ~1/ <br />(). ~. . I' í}Jt)1rr\.¿4.'>]. <br />Janis K. Womack <br />City Secretary <br />