Res 128-2000 9/19/2000RESOLUTION NO. . -� -6
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 UNITED ELECTRIC
COMPANY, L.P., 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 TAX REFUND, AS AUTHORIZED
BY SECTION 151.431, TEXAS TAX CODE (THE "TAX CODE "), AND TO
RECEIVE A ONE -TIME FRANCHISE TAX REFUND, AS AUTHORIZED
BY SECTION 171.501, TEXAS TAX CODE; FINDING AND
DETERMINING THAT THE MEETING AT WHICH THIS RESOLUTION
WAS PASSED WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the Department designated the City of Wichita Falls' Enterprise
Zone (the "Zone ") on November 20, 1998; 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, the Tax 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 of $5,000 in state sales taxes, and /or a one -time refund of up to $5,000 in state
franchise taxes; and,
WHEREAS, United Electric Company, L.P., 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 United Electric
Company, L.P., 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 new employees hired to fill jobs vacated
by the employees occupying the ten (10) retained positions are economically
disadvantaged 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 United Electric Company, L.P. is a qualified business eligible to
receive a one -time state sales tax refund and a one -time state franchise fee refund
available through the Enterprise Zone Program; and,
WHEREAS, the City nominates United Electric Company, L.P., as the first of
three qualified businesses allowed by the Act to be eligible for a one -time state sales
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
United Electric Company, L.P., 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. That United Electric Company, L.P. 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 September 2000.
MAYOR
ATTEST:
City Clerk