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RESOLUTION NO. 2020-187R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS APPROVING A FIRST AMENDMENT TO PURCHASE <br />AND SALE AGREEMENT WITH PURSUANT VENTURES <br />DEVELOPMENT, LLC RELATING TO THE DEVELOPMENT OF A NEW <br />MULTI -USE SPORTSPLEX FACILITY IN THE VICINITY OF <br />CENTERPOINT ROAD AND IH -35 SOUTH TO REVISE THE <br />DESCRIPTION OF THE MASTER SITE, PROVIDE FOR COMPLETION <br />OF CERTAIN PUBLIC IMPROVEMENTS WITH ESCROWED FUNDS IN <br />THE EVENT THE SELLER FAILS TO TIMELY COMPLETE SUCH <br />PUBLIC IMPROVEMENTS, EXTENDING THE DATE FOR SUBMISSION <br />OF THE SITE PREPARATION PERMIT FOR THE PROJECT AND <br />ACKNOWLEDGING THAT THE SPORTSPLEX LAND WILL BE <br />DEDICATED AS PARKLAND AFTER THE SPORTSPLEX FACILITY IS <br />LEASED AND OPERATIONAL; AUTHORIZING THE CITY MANAGER, <br />OR HIS DESIGNEE, TO EXECUTE FIRST AMENDMENT; AND <br />DECLARING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The attached First Amendment to Purchase and Sale Agreement with <br />Pursuant Ventures Development, LLC, is approved. <br />PART 2. The City Manager, or his designee, is authorized to execute said First <br />Amendment to Purchase and Sale Agreement on behalf of the City in accordance with the terms <br />of the Purchase and Sale Agreement. <br />PART 3. This resolution shall be in full force and effect immediately from and after <br />its passage. <br />ADOPTED on September 1, 2020. <br />lam -L �ks <br />k5dy_) <br />Jane Hughson <br />Mayor <br />Attest: <br />T mm y Cook <br />Interim ity Clerk <br />