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RESOLUTION 2011 -143 R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS CONCERNING A REIMBURSEMENT AGREEMENT <br />WITH CARMA PASO ROBLES LLC AND A PRELIMINARY PROJECT <br />PLAN AND REINVESTMENT ZONE FINANCING PLAN FOR THE <br />PROPOSED SAN MARCOS, TEXAS TAX INCREMENT <br />REINVESTMENT ZONE NO. 4 IN CONNECTION WITH THE PASO <br />ROBLES DEVELOPMENT AT HUNTER AND CENTERPOINT ROADS; <br />AUTHORIZING THE CITY MANAGER TO EXECUTE THE <br />REIMBURSEMENT AGREEMENT ON BEHALF OF THE CITY AND <br />OTHER RELATED MATTERS; AND DECLARING AN EFFECTIVE <br />DATE <br />WHEREAS, on May 17, 2011 the City Council of the City of San Marcos, Texas (the <br />"City") received a petition from Carina Paso Robles LLC (the "Developer") to create the City of <br />San Marcos, Texas Tax Increment Reinvestment Zone No, 4 ("Zone No, 4") pursuant to Chapter <br />311 of the Texas Tax Code; and <br />WHEREAS, in connection with designation of Zone No, 4, the City is entering into a <br />Reimbursement Agreement with the Developer to provide for the conditions, projects and other <br />details related to reimbursing the Developer for qualified public infrastructure costs from a <br />portion of the tax increment within Zone No. 4; and <br />WHEREAS, as required by Section 311,003 of the Texas Tax Code, the City Council <br />must approve a preliminary reinvestment zone financing plan prior to adopting an ordinance <br />designating a reinvestment zone, <br />HE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The attached Reimbursement Agreement between the City and the Developer <br />related to Zone No. 4 is approved, <br />PART 2. The City Manager is authorized to execute the Reimbursement Agreement on <br />behalf of the City, <br />PART 3. The attached Preliminary Project Plan and Reinvestment Zone Financing Plan <br />is approved, <br />PART 4. This Resolution shall be in full force and effect immediately from and after its <br />passage, <br />