Laserfiche WebLink
RESOLUTION NO. 2013-164R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS APPROVING A CHAPTER 380 ECONOMIC <br />DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE CITY OF <br />SAN MARCOS, TEXAS AND TRIANGLE PUMP COMPONENTS, INC. <br />THAT PROVIDES FOR AN ECONOMIC DEVELOPMENT INCENTIVE <br />IN THE FORM OF ANNUAL REFUNDS OF AD VALOREM PROPERTY <br />TAXES IN AN AMOUNT NOT TO EXCEED $8,400.00 PER YEAR OVER <br />A PERIOD OF FIVE YEARS FOR THE RELOCATION OF THE <br />COMPANY'S HEADQUARTERS AND MANUFACTURING <br />OPERATIONS TO THE CITY; AUTHORIZING THE CITY MANAGER <br />TO EXECUTE SAID AGREEMENT; AND DECLARING AN EFFECTIVE <br />DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The attached Chapter 380 Economic Development Incentive Agreement <br />(the "Agreement ") is hereby approved. <br />PART 2. The City Manager is authorized to execute the Agreement on behalf of the <br />City. <br />PART 3. This Resolution shall be in full force and effect immediately from and <br />after its passage. <br />ADOPTED on October l 5, 2013. <br />el ue o <br />Mayor <br />Attest: <br />