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<br /> œ~ŒrnG\fl~œ <br /> JUL 24 19&9 <br /> Chamber of Commerce CITY of SAN MARCOs. <br /> ~MLNl$TR~"I~~ <br /> 512/396-2495 . P. O. Box 2310 San Marcos. Texas 78667-2310 <br /> -- <br /> 202 CM. Allen Parkway <br /> MEMO <br /> TO: Kathy Morris, Mayor <br /> Larry Gilley, City Manager <br /> FROM: Jim Gandy ø- <br /> DATE: July 20, 1989 <br /> SUBJECT: Sunset Commission Report <br /> Recently I read in the San Marcos Daily Record that a report <br /> submitted to the City Council from the Sunset Commission <br /> recommended the eliminating of the City of San Marcos Industrial <br /> Development Corporation (S.M.I.D.C.). <br /> I would like to highly recommend that the S.M.I.D.C. not be <br /> eliminated or consolidated. The Corporations last meeting was <br /> April 20, 1989. <br /> I urge you to support the Corporation as it is a very useful <br /> economic development financing tool. The S.M.I.D.C. has been <br /> very successful in stimulating capital investment and job <br /> opportunities in San Marcos through the issuance of tax-exempt <br /> bonds. Companies that have used this financing program include <br /> International Elp..ctric Corporation. Butler Manufacturing, Heldenfels <br /> Brothers, Mensor Corporation, Thermon Manufacturing Company, and <br /> Gulf Business Forms. <br /> Pending Federal sunset legislation may terminate the Small Issue <br /> Industrial Development Bond Program. <br /> The attached information will provide you with some additional <br /> background on the Industrial Development Bond Program. <br /> Until the fu ture of the Bond Program is determined by Congress, I <br /> hope we can keep this industrial development tool in our "tool <br /> box" for our use if needed. <br />