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10 ORDINANCE 1989-18 ..::t ....... . . AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, DESIGNATING A COMMERCIAL-INDUSTRIAL REINVESTMENT ZONE PURSUANT TO CHAPTER 312 OF THE TEXAS TAX CODE TO INCLUDE PROPERTY KNOWN GENERALLY AS THE OLD BOLLMAN INDUSTRIES TRACT LOCATED ON UHLAND ROAD IN THE CITY OF SAN ~~RCOS AND BOUNDED ON THE NORTHWEST SIDE BY THE MISSOURI-PACIFIC RAILROAD TRACKS, ON THE SOUTHWEST BY UHLAND ROAD AND ON THE SOUTHEAST BY MILL STREET, BEING APPROXIMATELY 12.143 ACRES, TO BE KNOWN AS REINVESTI"1ENT ZONE NO.4; ESTABLISHING THE SPECIFIC BOUNDARIES THEREOF; MAKING CERTAIN STATUTORY FINDINGS; AND ESTABLISHING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of San Marcos, Texas, desires to promote the development of an area within its jurisdiction by the creation of a reinvestment zone, as authorized by Chapter 312 of the Texas Tax Code; and, WHEREAS, a hearing before the City Council was held on April 24, 1989, at the regular meeting of the City Council, beginning at 7:30 p.m., and such date was at least seven (7) days after the date of publication of a notice concerning such public hearing; and, WHEREAS, notice of said public hearing was delivered in writing at least seven (7) days before said public hearing to the presiding officer of the governing body of each taxing unit that includes in its boundaries real property that is to be included in the proposed reinvestment zone; and, WHEREAS, all statutory prerequisites to the creation of San Marcos Reinvestment Zone No.4 have been met; now, therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1. That the facts and recitations contained in the preamble of this ordinance are hereby found and declared to be true and correct. SECTION 2. That the City Council finds that the property to be included in Reinvestment Zone No.4, comprising an area of approximately 12.143 acreas located on Uhland Road in the City of San Marcos and bounded on the Northwest side by the Missouri-Pacific Railroad tracks, on the Southwest by Uhland Road and on the Southeast by Mill Street, which is more fully described in a legal description attached hereto and incorporated herein for all purposes as Exhibit A, is an area that is reasonably likely as a result of a designation as a reinvestment zone to contribute to the retention or expansion of primary employment or to attract major investment in the zone that would be a benefit to the property and that would contribute to the economic development of the City of San Marcos. SECTION 3. That the improvements sought to be made by the owners of property in the proposed reinvestment zone are found to be feasible and practical and would be a benefit to the land to be included in the zone and to the City of San Marcos after a tax abatement agreement covering the development of said property has expired. SECTION 4. That the City hereby creates a reinvestment zone to be known as San Marcos Reinvestment Zone No.4 over the area described in Exhibit A, which is attached to this ordinance and incorporated herein for all purposes as though recited verbatim herein. SECTION 5. That this Ordinance shall be in effect ten (10) days from and after its passage, and it shall be published in a newspaper of general circulation in the area as required by the Charter of the City of San Marcos, Texas. PASSED AND APPROVED on first reading April 24, 1989. PASSED AND APPROVED on second reading May 8, 1989. PASSED, APPROVED AND ADOPTED May 22, 1989.