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• RESOLUTION NO. 2009-104R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, APPROVING A CHAPTER 380 ECONOMIC <br />DEVELOPMENT AGREEMENT BETWEEN THE CITY OF SAN <br />MARCOS, TEXAS AND TB WOOD'S INCORPORATED, PROVIDING <br />FOR INCENTIVES IN THE FORM OF REFUNDS OF A PORTION OF <br />PERSONAL PROPERTY TAXES ON NEW PERSONAL PROPERTY <br />ADDED OVER 10 YEARS IN THE ESTIMATED AMOUNT OF <br />$59,648.00; AUTHORIZING THE CITY MANAGER TO EXECUTE SAID <br />AGREEMENT; AND DECLARING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The terms and conditions of the attached Chapter 380 Agreement between <br />the City of San Marcos, Texas and TB Wood's Incorporated are hereby approved. <br />PART 2. The City Manager, Rick Menchaca, is authorized to execute said <br />agreement on behalf of the City. <br />PART 3. This Resolution shall be in full force and effect immediately from and <br />after its passage. <br />ADOPTED this the 18th day of August, 2009. <br />Susan Narvaiz <br />Mayor <br />Attest: <br />Sherry Mashburn <br />City Clerk <br />0