Res 166-2000 12/19/2000RESOLUTION NO. 1JD(1) - Cff)
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, DECLARING THAT THE CITY OF WICHITA FALLS,
TEXAS (THE "CITY ") COMMITS TO NOMINATE THE NEW TRADE
WINDS MOTOR HOTEL (SALSON INVESTMENT TEXAS, INC.), A
"QUALIFIED BUSINESS" AS DEFINED BY THE TEXAS ENTERPRISE
ZONE ACT, SECTION 2303.401(a), TEXAS GOVERNMENT CODE (THE
"ACT "), FOR THE PURPOSE OF APPLYING TO THE TEXAS
DEPARTMENT OF ECONOMIC DEVELOPMENT ( "THE
"DEPARTMENT ") AND THE TEXAS COMPTROLLER OF PUBLIC
ACCOUNTS (THE "COMPTROLLER ") TO RECEIVE A ONE -TIME
STATE SALES AND USE TAX REFUND, AS AUTHORIZED BY
SECTION 151.431, TEXAS TAX CODE (CODE); 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
designated the City of Wichita Falls' North
1991; and,
of Economic Development (Department)
Enterprise Zone (the "Zone ") on June 27,
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, the Code allows that during each calendar year, no more than three
(3) qualified businesses may be nominated to the Department among all enterprise
zones within the City's jurisdiction for the purpose of receiving a one -time refund that
may not exceed $500.00 for each qualified employee retained up to a limit of $5,000.00
for each job in State sales taxes (6.25 percent); and,
WHEREAS, The New Trade Winds Motor Hotel is wholly located within the Zone
and has committed to retain at least ten (10) jobs and the jobs provide employment of
at least 1,820 hours over a one -year period beginning January 1, 2001, and ending
December 31, 2001; and,
WHEREAS, at the end of the year period, or at which time as The New Trade
Winds Motor Hotel can prove it is a qualified business as defined by the Act and
retained at least ten (10) jobs held by qualified employees that worked at least 1,820
hours since January 1, 2001, and that at least 25% of the ten (10) retained employee
positions are economically disadvantaged employees or residents of the North or East
Enterprise Zones, No. EZ- 264- 111998 -WFE or No. EZ 265- 111998 -WFN, the
Department may certify to the Comptroller that The New Trade Winds Motor Hotel is a
qualified business eligible to receive a one -time state sale and use tax refund available
through the Enterprise Zone Program; and,
WHEREAS, the City nominates The New Trade Winds Motor Hotel, as the
second of three qualified businesses allowed by the Act to be eligible for a one -time
state sales and use tax refund during the calendar year 2001 on the grounds that it will
create economic activity and stability in the Zone; and,
WHEREAS, the City finds that it is in the best interests of the City to nominate
The New Trade Winds Motor Hotel, as a qualified business pursuant to the Act.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS:
SECTION 1. That the findings of the City and its actions approving this
resolution taken at the Council meeting are hereby approved and adopted.
SECTION 2. The New Trade Winds Motor Hotel is nominated as a qualified
business as defined in Section 2303.401(a) of the Act.
SECTION 3. That the nomination period shall be in effect from January 1, 2001
to December 31, 2001.
SECTION 4. That it is hereby officially found and determined that the meeting at
which the resolution was passed was open to the public as required by law.
PASSED AND APPROVED this the 19`h day of December 2000.
AYOR
ATTEST:
City Clerk