Res 016-2000 2/15/2000RESOLUTION NO.
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, TO NOMINATE CERBAY COMPANY AS AN
ENTERPRISE ZONE PROJECT; FINDING AND 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 (the "State "),
formerly the Texas Department of Commerce, designated the City of Wichita Falls (the
"City ") North Enterprise Zone (the "Zone ") on June 27, 1991; and
WHEREAS, State will consider CerBay Company as an enterprise project
pursuant to a nomination and an application made by the City of Wichita Falls, Texas
(the "City "); and
WHEREAS, 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 "), CerBay Company has applied to the
City for designation as an enterprise project; and
WHEREAS, CerBay Company must meet criteria for designation as an
enterprise project under Chapter 2303, Subchapter F of the Act on the following
grounds:
1. That CerBay Company 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. That there has been and will continue to be a high level of cooperation
between public, private, and neighborhood entities within the Zone: and
3. The designation of CerBay Company 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 CerBay Company meets the criteria for tax relief
and other incentives adopted by the City and nominates CerBay Company 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 public interest of the City to nominate
CerBay Company 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. CerBay Company 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 State and terminate five (5) years after that date of
designation.
SECTION 3. 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 15th day of February 2000.
ATTEST:
City Clerk