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<br /> Z In. CITY OF SAN MARCOS <br /> <br /> To: Larry D. Gilley, City Manager œŒ~Œ~WŒ[Ð <br /> From: Donna M. Farley, Director of Fina=e ~ <br /> Subject: City of San Marcos Industrial Development Corporatiol\JUL 31 1989 <br /> Date: July 31, 1989 CITY of SAN MARCOS <br /> ADMINISTRATION <br /> As per your request, I have researched the feasibility of dissolving <br /> the City of San Marcos Industrial Development Corporation. The <br /> Corporation was established to finance all or part of the cost of one <br /> or more commercial, industrial or manufacturing projects to promote and <br /> develop encourage employment and the public welfare. <br /> Dissolving this inactive Corporation would streamline the number of <br /> City boards and commission. However, this could hinder the City's <br /> ability to quickly participate in any future funds that may be made <br /> available through the state. <br /> This Corporation's duties could be expanded to incorporate some of the <br /> City's responsibilities in relation to the "Revolving Loan Fund". The <br /> purposes of the RLF and the original SM Industrial Development <br /> Corporation are similar. The RLF is still in a developmental stage. <br /> The feasibility and legality of having this Corporation perform dual <br /> roles can be reviewed during the process. <br /> city hall' 630 e. hopkins . san marcos. texas. 78666 . 512/353-4444 <br /> fax , 512-3964656 <br />