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<br /> 54 <br /> RESOLUTION 1991-7R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br /> OF SAN MARCOS, TEXAS, ADOPTING A POLICY ON TAX <br /> ABATEMENT AND OTHER ECONOMIC DEVELOPMENT <br /> INCENTIVES FOR THE CITY OF SAN MARCOS, TEXAS, <br /> AND DECLARING AN EFFECTIVE DATE. <br />WHEREAS, the City Council desires to promote economic development <br />within San Marcos: and, <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 />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: now, therefore, <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. That the policies and guidelines for tax aba temen t <br />contained in the attached "Policy on Tax Abatement and Other <br />Economic Development Incentives for the City of San Marcos, <br />Texas, " are approved and adopted. <br />PART 2. That this resolution shall be full force and effect from <br />and after its passage. <br /> Adopted this 28th day of January , 1991. <br /> l~~J~ <br /> Mayor <br />ATTES~ øf ~ <br />~s K. Womack <br />City Secretary <br />