Res 151-99 12/21/1999RESOLUTION NO. A 5\ -CICI
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, TO NOMINATE RESERVATION SERVICES, INC., A
SUBSIDIARY OF BUDGET GROUP, INC. AS AN ENTERPRISE ZONE
PROJECT TO BE SUBMITTED TO THE TEXAS DEPARTMENT OF
ECONOMIC DEVELOPMENT; DETERMINING THAT THE MEETING AT
WHICH THIS RESOLUTION WAS PASSED WAS OPEN TO THE
PUBLIC AS REQUIRED BY LAW.
WHEREAS, the Texas Department of Economic Development ( "TDED ")
designated the City of Wichita Falls North Enterprise Zone (the "Zone ") on June 27,
1991; and
WHEREAS, TDED authorized an expansion of the Zone by a letter dated
October 18, 1999 where such Zone expansion is intended to allow Reservation
Services, Inc., a subsidiary of Budget Group, Inc. to apply for nomination as an
enterprise project; and
WHEREAS, TDED will consider Reservation Services, Inc. as an enterprise
project pursuant to a nomination and an application made by the City of Wichita Falls,
Texas (the "City "); and
WHEREAS, the City desires to pursue the creation of the proper economic and
social environment in order to induce the investment of private resources in productive
business enterprises located in the Zone and to provide employment to residents of the
Zone and to other economically disadvantaged individuals; and
WHEREAS, pursuant to Chapter 2303, Subchapter F of the Texas Enterprise
Zone Act, Texas Government Code (the "Act "), Reservation Services, Inc. has applied
to the City for designation as an enterprise project; and
WHEREAS, the City finds that Reservation Services, Inc. meets the criteria for
designation as an enterprise project under Chapter 2303, Subchapter F of the Act on
the following grounds:
1. Reservation Services, Inc. is a "qualified business" under Section
2303.402 of the Act since it will be engaged in the active conduct of trade
or business in the Zone and at least twenty -five percent (25 %) of the
business' new employees will be residents of a Zone within the City's
jurisdiction or economically disadvantaged individuals;
2. Reservation Services, Inc. is located in the Zone which has an
unemployment rate of not less than one and one -half (1 -1/2) times the
state unemployment rate;
3. There has been and will continue to be a high level of cooperation
between public, private, and neighborhood entities within the Zone; and
4. The designation of Reservation Services, Inc., as an enterprise project will
contribute significantly to the achievement of the plans of the City for
development and revitalization of the Zone; and
WHEREAS, the City finds that Reservation Services, Inc., meets the criteria for
tax relief and other incentives adopted by the City and nominates Reservation Services,
Inc. on the grounds that it will be located wholly within the Zone and it will create a
higher level of employment, economic activity and stability; and
WHEREAS, the City finds that it is in the best interest of the City to nominate
Reservation Services, Inc. as an enterprise project pursuant to the Act.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION _1. Reservation Services, Inc., a subsidiary of Budget Group, Inc., is a
"qualified business," as defined in Section 2303.402 of the Act, and meets the criteria
for designation as an enterprise project, as set forth in Section 2303, Subchapter F of
the Act.
SECTION 2. The enterprise project shall take effect on the date of designation
of the enterprise project by TDED and terminate five (5) years after that date of
designation.
SECTION 3. Resolution No. 134 -99 is hereby repealed.
SECTION 4. 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 21st day of December 1999.
ATTEST;
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—1 City Clerk