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8O <br /> <br />RESOLUTION 1993- 20 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF SAN NLARCOS, TEXAS, ADOPTING A POLICY ON TAX <br />~_BATEMENT AND OTHER ECONOMIC DEVELOPMENT <br />INCENTIVES FOR THE CITY OF SAN MARCOS, TE~iAS, <br />AND DECLARING AN EFFECTIVE DATE. <br /> <br />WHEREAS, the City Council desires to promote economic development <br />within San Marcos; and, <br /> <br />WHEREAS, providing tax abatement and other economic development <br />incentives within the City and its extraterritorial jurisdiction <br />will likely contribute to the economic development of San Marcos <br />by encouraging major investment and the creation of jobs; and, <br /> <br />WHEREAS, the Property Redevelopment and Tax Abatement Act, Chapter <br />312 of the Texas Tax Code, requires the City to establish <br />guidelines and criteria for tax abatement before entering into a <br />tax abatement agreement; now, therefore, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN NLARCOS, <br />TEXAS: <br /> <br />PART 1. That the attached Policy on Tax Abatement and Other <br />Economic Development Incentives is approved and adopted. <br /> <br />PART 2. That this resolution shall be full force and effect from <br />and after its passage. <br /> <br />Adopted this 25th <br /> <br />dal!of~~r is~~ ~~Januarv , 1993. <br /> <br />ATTES~T i <br /> <br />Jan~fs K. WomacK <br />City Secretary <br /> <br /> <br />