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RESOLUTION 2011- 142 R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS CONCERNING THE PROPOSED SAN MARCOS, TEXAS TAX INCREMENT REINVESTMENT ZONE NO. 4 IN CONNECTION WITH THE PASO ROBLES DEVELOPMENT AT HUNTER AND CENTERPOINT ROADS; APPROVING AN INTERLOCAL AGREEMENT BETWEEN HAYS COUNTY AND THE CITY OF SAN MARCOS PROVIDING FOR THE COUNTY TO MAKE PAYMENTS TO THE CITY OF TEN PERCENT OF THE COUNTY'S TAX INCREMENT REVENUES FROM INCREASED PROPERTY VALUES IN THE ZONE; AUTHORIZING THE CITY MANAGER TO EXECUTE THIS AGREEMENT ON BEHALF OF THE CITY; CONFIRMING THE CITY'S INTENTION TO NOT ANNEX THE SUBDIVISIONS IMMEDIATELY ADJACENT TO THE PASO ROBLES DEVELOPMENT AND THE CITY'S WILLINGNESS TO ENTER INTO DEVELOPMENT AGREEMENTS TO DEFER ANNEXATION OF SAID SUBDIVISIONS FOR A PERIOD OF TEN YEARS; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. Pursuant to Resolution No, 2011409R the City Council previously approved entering into an Interlocal Agreement with Hays County providing for the County to make payments to the City of 20 percent of its tax increment revenues from increased property values in the proposed San Marcos, Texas Tax Increment Reinvestment Zone No, 4 in connection with the Paso Robles development at Hunter and Centerpoint Roads, 2. The Hays County Commissioners' Court approved entering into said Interlocal Agreement with the City subject to: 8, reducing the County's contribution of tax increment under the Agreement from 20 percent to ten percent; b, making the County's payment obligation under the Agreement contingent upon the County's consent to any changes to the existing road network shown in the Paso Robles PDD as amended; and C. confirmation from the City that the City has no intention to annex the subsivisions immediately adjacent to the Paso Robles development and is willing to enter into development agreements to defer annexation of such subdivisions for ten years,