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<br /> 119 <br /> RESOLUTION 1993 - 22'1 R <br /> <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS, TEXAS APPROVING AN APPLICATION FOR FUNDING <br /> THROUGH THE TEXAS DEPARTMENT OF HOUSING AND <br /> COMMUNITY AFFAIRS SMALL BUSINESS INCUBATOR PROGRAM¡ <br /> AUTHORIZING THE CITY MANAGER TO ACT ON THE CITY" S <br /> BEHALF WITH REGARD TO THE SUBMISSION OF THIS <br /> APPLICATION¡ AGREEING NOT TO PARTICIPATE IN PROGRAM <br /> INCOME RECAPTURE¡ AND DECLARING AN EFFECTIVE DATE. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br /> TEXAS: <br /> PART 1. That the City Council has reviewed and approves an <br /> application for: <br /> Small Business Incubator Program; San Marcos, Texas - $465,021.00 <br /> PART 2. That the City Council has reviewed and agrees to <br /> comply with all assurances executed in connection with the <br /> application and, if funded the award. <br /> ~ <br /> PART 3. That the City Manager, Larry D. Gilley, is <br /> authorized to execute the application and otherwise act on the <br /> City's behalf in all matters pertaining to the submission of this <br /> application. <br /> PART 4. That the City Council has reviewed and hereby agrees <br /> ~ not to participate in program income recapture and will return all <br /> program income to the State to be placed in a statewide Revolving <br /> Loan Fund to be used by the State to fund future economic <br /> development awards. By agreeing to this measure, the City <br /> understands that it will be eligible to receive as many Texas <br /> Capital Fund awards per program year as it has eligible projects. <br /> This determination must be made at the time the original award is <br /> made and cannot be changed with subsequent awards for this program <br /> year or retroactively in subsequent program years. <br /> PART 5. That this Resolution shall be in full force and <br /> effect immediately from and after its passage. <br /> ADOPTED on this 13th day of December , 1993. <br /> \~ V ll\. t <br /> UV~ <br /> Kathy M. M rris <br /> Mayor <br /> Attest: <br /> u¡ þy;/.g( øvir~~) <br /> Janis K. Womack <br /> City Secretary <br />