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<br />71. <br /> <br />RESOLUTION NO. 2002 - 217 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, APPROVING REVISED COMMUNITY DEVELOPMENT <br />BLOCK GRANT ("CDBG") REVOLVING LOAN FUND GUIDELINES; AND <br />DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. Prior to the City's designation as a CDBG entitlement city, the City Council <br />participated in a Revolving Loan Fund ("RLF") Program under the Texas Community <br />Development Program, and the City Council approved RLF Program Guidelines for the <br />process of qualifying applicants for funding under the program. <br /> <br />2. The City Council wishes to adopt a revised version of these program <br />guidelines that incorporates changes in applicant eligibility, amortization requirements, <br />interest rates, maximum/minimum awards, project length and cost per job created. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. The attached revised City of San Marcos Revolving Loan Fund <br />Program Guidelines are approved and adopted for use by the City. <br /> <br />PART 2. <br />passage. <br /> <br />This resolution shall be in full force and effect from and after its <br /> <br />ADOPTED this the <br /> <br />9th <br /> <br />day of <br /> <br />December <br /> <br />,2002. <br /> <br />M8.~ <br /> <br />Robert B. Habingreither <br />Mayor <br /> <br /> <br />K. Womack <br />City Clerk <br />