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ORDINANCE NO. 2013-69 <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS <br />DESIGNATING TRANSPORTATION REINVESTMENT ZONE NUMBER ONE, <br />CITYOF SAN MARCOS FOR THE EXTENSION AND EXPANSION OF FM 110. <br />WHEREAS, Section 222.106 of the Texas Transportation Code (the "Code ") allows for <br />the creation of a municipal transportation reinvestment zone ( "TRZ ") for the purpose of <br />promoting a transportation project which will promote public safety; facilitate the improvement, <br />development, or redevelopment of property; and facilitate the movement of traffic; and <br />WHEREAS, the City of San Marcos (the "City "), in conjunction with Hays Count (the <br />"County ") and the Texas Department of Transportation ( "TxDOT "), is currently pu suing <br />improvements to, and the extension and expansion of, FM 110 (the "Project "); and <br />WHEREAS, the City Council of the City of San Marcos (the "City Council ") finds that <br />the area depicted generally on the map attached hereto as Attachment "A" and described more <br />specifically in the boundary description attached hereto as Attachment "B" is unproductive and <br />underdeveloped; and <br />WHEREAS, in order to facilitate the development of the Project and as permitted by <br />Section 222.106 of the Code, the City Council proposes to establish "Transportation <br />Reinvestment Zone Number One, City of San Marcos" (the "Zone "), in the area depicted <br />generally on the map attached hereto as Attachment "A" and described more specifically in the <br />boundary description attached hereto as Attachment "B "; and <br />WHEREAS, the City Council finds that the designation of the Zone will promote public <br />safety, facilitate the development or redevelopment of property in the Zone, facilitate the <br />movement of traffic, and promote the development of the Project; and <br />WHEREAS, the Hays County Commissioners Court intends to enter into an Advance <br />Funding Agreement ( "AFA ") with TxDOT pursuant to which TxDOT will construct the Project <br />pursuant to specific terms and conditions, subject to reimbursement of the Project costs by the <br />County; and <br />WHEREAS, the City intends to enter into an interlocal agreement with the County <br />pursuant to which the City will allocate and remit to the County a portion of the tax increment on <br />property in the Zone to be used to reimburse TxDOT for Project costs under the terms of the <br />AFA; and <br />WHEREAS, after providing the notice required by Section 222.106(e) of the Code, the <br />City Council held a public hearing on October 15, 2013 on the creation of the Zone and its <br />benefits to the City and to the property in the Zone; and <br />