Res 143-2003 11/4/2003RESOLUTION NO.
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, AUTHORIZING A TAX ABATEMENT AGREEMENT
BETWEEN THE CITY OF WICHITA FALLS AND WARNER ELECTRIC,
INC.; FINDING AND DETERMINING THAT THE MEETING AT WHICH
THIS RESOLUTION WAS PASSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS, the City of Wichita Falls was chosen by Warner Electric, Inc. to
consolidate its Waukesha, Wisconsin plant to the local Wichita Clutch site; and
WHEREAS, a portion of the incentive agreement included a tax abatement on
the personal property and improvements that result from this consolidation effort.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The Mayor is hereby authorized to execute a tax abatement
agreement for a period of 5 years with Warner Electric, Inc. in accordance with the
terms and conditions of said agreement, attached hereto and made a part hereof for all
purposes.
SECTION 2. It is hereby officially found and determined that the meeting at
which this resolution was passed was open to the public as required by law.
PASSED AND APPROVED this the 4th day of November, 2003.
ATTEST:
(t� h K'
City Clerk
MAYOR