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<br /> RESOLUTION 1989-50R 18 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE <br /> CITY OF SAN MARCOS, TEXAS, APPROVING THE <br /> TERMS AND CONDITIONS OF A TAX ABATEMENT <br /> AGREEMENT BETWEEN THE CITY OF SAN MARCOS <br /> AND HARPER'S HALL JOINT VENTURE, <br /> AUTHORIZING THE MAYOR TO EXECUTE SAID <br /> AGREEMENT AND DECLARING AN EFFECTIVE <br /> DATE. <br />WHEREAS, the City Council has voted to create the San Marcos <br />Reinvestment Zone No. 3; and, <br />WHEREAS, Harperls Hall Joint Venture owns property included <br />in San Marcos Reinvestment Zone No. 3; and, <br />WHEREAS, Harper's Hall Joint Venture wishes to enter into a <br />tax abatement agreement with the City of San Marcos <br />pertaining to its development of property included in San <br />Marcos Reinvestment Zone No.3: now, therefore, <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. That the proposed tax abatement agreement between <br />the City of San Marcos and Harper's Hall Joint Venture, a <br />copy which is attached hereto as Exhibit A and incorporated <br />herein for all purposes, is found to satisfy all of the <br />requirements of the City's "Policy on Tax Abatement and Other <br />Economic Development Incentives for the City of San Marcos, <br />Texas, It which was adopted by the City Council on January 23, <br />1989. <br />PART 2. That the proposed tax abatement agreement between <br />the City of San Marcos and Harper's Hall Joint Venture, <br />attached hereto as Exhibit A, is found to satisfy all of the <br />requirements of the property redevelopment and Tax Abatement <br />Act, Chapter 312 of the Texas Tax Code. <br />PART 3. That the recitals found in the preamble to this <br />resolution are adopted herein in their entirety. <br />PART 4. Tha t the terms and conditions of the Tax Abatement <br />Agreement between the City of San Marcos and Harper's Hall <br />Joint Venture, a copy of which is attached hereto as Exhibit <br />A and incorporated herein for all purposes as though recited <br />verbatim, are in all things approved and adopted effective as <br />provided below in Part 6. <br />PART 5. Tha t the Mayor of the City of San Marcos, Kathy M. <br />Morris, is authorized to execute said agreement. <br />PART 6. That this resolution shall be in full force and <br />effect from and after the effective date of the ordinance <br />creating San Marcos Reinvestment Zone No. 3. <br /> ADOPTED this 22 day of May , 1989. <br /> ~o~~ <br /> Mayor <br />Attest: ! <br /> ) ./ <br />/~ ) r ~ :lÂ/ ) ./< <br />. . ."~ ~ -.. v/ <br />C>-/f- bt,'i~/ } y.. II ÎY;AL---:.-- <br />Jánis K. \vomack <br />City Secretary <br />