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Home My WebLink About20023144.tiff RESOLUTION RE: APPROVE TWO AGREEMENTS FOR TAX INCENTIVE PAYMENTS AND AUTHORIZE CHAIR TO SIGN - EASTMAN KODAK COMPANY, COLORADO DIVISION WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board has been presented with two Agreements for Tax Incentive Payments between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Eastman Kodak Company, Colorado Division, with terms and conditions being as stated in said agreement, and WHEREAS, after review, the Board deems it advisable to approve said agreement, a copy of which is attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the two Agreements for Tax Incentive Payments between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Eastman Kodak Company, Colorado Division, be, and hereby are, approved. BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to sign said agreements. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 9th day of December, A.D., 2002. BOARD OF COUNTY COMMISSIONERS WEL OUNTY/COL DO ATTEST: J"I* CLLG! F �� "0 ` Glen ad, Ch Weld County Clerk to the Board" , 1. c^ I �p . k r David E.L cg,PPro-Tem BY: .� . Ce. �i+ll s _ S �j Deputy Clerk to the B1 u � �//7 7 ser:L M. J. Gei e APPROVE15 AS T9 FORM: 7 EXCUSED 76/ lliam H. Jere� 2-7_� III . -- ounty-A ornby t - '�' 4� 2 Robert D. Masden Date of signature: / 17 2002-3144 FI0035 (7 77 AGREEMENT WHEREAS, the Board of County Commissioners of Weld County, Colorado, is desirous of promoting economic development within Weld County, Colorado (hereinafter referred to as the "Taxing Authority")for the purposes of stimulating the general well-being of the Taxing Authority and the generation of employment opportunities; and WHEREAS, Senate Bill #90-118 was passed by the Colorado General Assembly and became law on April 24, 1990, and provides that the Taxing Authority may negotiate incentive payments to taxpayers who establish new business facilities or who expand existing business facilities; and WHEREAS, Senate Bill #94-182 was passed by the Colorado General Assembly, effective January 1, 1995, extending property tax incentive payments indefinitely; and WHEREAS, the Eastman Kodak Company, Colorado Division (hereinafter referred to as the "Taxpayer') represents that it has invested or intends to invest in qualifying personal property and wishes to receive the incentive payment benefits available under Senate Bill #90-118 and Senate Bill #94-182; and WHEREAS, the Taxpayer has been determined to be currently eligible for benefits under Senate Bill #90-118 and Senate Bill #94-182 and the policy concerning incentive payments passed by Resolution on February 20, 1991, (hereinafter referred to as the "Resolution of the Taxing Authority"). NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the undersigned parties hereby agree to the following: 1. Fifty percent of the amount of personal property taxes paid by the Taxpayer for property appearing on the personal property declaration schedule submitted by the Taxpayer to the Weld County Assessor for the four tax years beginning 2003 and ending 2006 and which have not appeared on previous schedules shall be paid to the company by the Taxing Authority. Only property placed in service in the County during the tax years given above shall qualify. 2. Such payment shall be made to the Taxpayer or assignee by the County Treasurer within 90 days of receipt of full payment by the Taxpayer of all personal property taxes due and receipt of an affidavit from the Taxpayer stating that the Taxpayer remains eligible for the payment under Senate Bill #90-118 and Senate Bill #94-182 and the Resolution of the Taxing Authority. 3. Such payment shall be made only if all taxes and assessments levied and assessed by the Taxing Authority shall be current. 4. Such payment shall be made only if Taxpayer remains eligible to receive the incentive payments under criteria established in Senate Bill #90-118 and Senate Bill #94-182 and the Resolution of the Taxing Authority in each year of this Agreement. 5. Payment shall only be made by Taxing Authority if incentive payment is not calculated as being part of Weld County Home Rule 5% property tax limitation or State property tax limitation. eG Fl 2002-3144 FI0035 AGREEMENT -THE KODAK COLORADO DIVISION PAGE 2 6. Payment shall not be made by Taxing Authority if State Constitutional Amendment limiting property taxes is subsequently passed after the date of this Agreement or if a court of competent jurisdiction declares any portion of this Agreement, Senate Bill #90-118 and Senate Bill 90--182, or as may be amended, or the Resolution of February 20, 1991 setting policy concerning incentive payment to taxpayers to be invalid or unconstitutional during the term of this Agreement. 7. Any payments made under this agreement that are determined not to be legal under State law or are determined to be part of the Weld County Home Rule 5% property tax limitation or State property tax limitation, shall be repaid to Weld County. 8. Payment to Taxpayer shall only be made to the extent revenues are available and appropriated in each of the four years of the term of this Agreement. 9. This Agreement is not assignable without written approval of the County. 10. Acceptance of incentive payment by Taxpayer constitutes agreement by both parties to fund incentive payment settlement for the tax year involved. 11. Notices to Taxpayer shall be made to Financial Services, Eastman Kodak Company, 9952 Eastman Park Drive, Windsor, Colorado 80551. Notices to Taxing Authority shall be made to the Board of County Commissioners of Weld County, 915 10th Street, Greeley, Colorado 80631. The above and foregoing Agreement was hereby approved on the 9 th day of December, A.D., 2002. TAXING AUTHORITY: BOARD OF COUNTY COMMISSIONERS WELD CO TY, CO DO ATTEST: gay BY: Glenn Vaad, ChaSr---.-- Weld County Clerk to i'B 01j 1861 ALLDeputy Clerk to the Board; i;•" ';�1-, TAXPAYER: EASTMAN KODAK COMPANY COLO DO DIV I N 2002-3144 FI0035 AGREEMENT WHEREAS, the Board of County Commissioners of Weld County, Colorado, is desirous of promoting economic development within Weld County, Colorado (hereinafter referred to as the "Taxing Authority")for the purposes of stimulating the general well-being of the Taxing Authority and the generation of employment opportunities; and WHEREAS, Senate Bill #90-118 was passed by the Colorado General Assembly and became law on April 24, 1990, and provides that the Taxing Authority may negotiate incentive payments to taxpayers who establish new business facilities or who expand existing business facilities; and WHEREAS, Senate Bill #94-182 was passed by the Colorado General Assembly, effective January 1, 1995, extending property tax incentive payments indefinitely; and WHEREAS, the Eastman Kodak Company, Colorado Division (hereinafter referred to as the "Taxpayer') represents that it has invested or intends to invest in qualifying personal property and wishes to receive the incentive payment benefits available under Senate Bill #90-118 and Senate Bill #94-182; and WHEREAS, the Taxpayer has been determined to be currently eligible for benefits under Senate Bill #90-118 and Senate Bill #94-182 and the policy concerning incentive payments passed by Resolution on February 20, 1991, (hereinafter referred to as the "Resolution of the Taxing Authority"). NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the undersigned parties hereby agree to the following: 2. Fifty percent of the amount of personal property taxes paid by the Taxpayer for property appearing on the personal property declaration schedule submitted by the Taxpayer to the Weld County Assessor for the four tax years beginning 2004 and ending 2007 and which have not appeared on previous schedules shall be paid to the company by the Taxing Authority. Only property placed in service in the County during the tax years given above shall qualify. 2. Such payment shall be made to the Taxpayer or assignee by the County Treasurer within 90 days of receipt of full payment by the Taxpayer of all personal property taxes due and receipt of an affidavit from the Taxpayer stating that the Taxpayer remains eligible for the payment under Senate Bill #90-118 and Senate Bill #94-182 and the Resolution of the Taxing Authority. 3. Such payment shall be made only if all taxes and assessments levied and assessed by the Taxing Authority shall be current. 4. Such payment shall be made only if Taxpayer remains eligible to receive the incentive payments under criteria established in Senate Bill #90-118 and Senate Bill #94-182 and the Resolution of the Taxing Authority in each year of this Agreement. 5. Payment shall only be made by Taxing Authority if incentive payment is not calculated as being part of Weld County Home Rule 5% property tax limitation or State property tax limitation. 2002-3144 FI0035 AGREEMENT - THE KODAK COLORADO DIVISION PAGE 2 6. Payment shall not be made by Taxing Authority if State Constitutional Amendment limiting property taxes is subsequently passed after the date of this Agreement or if a court of competent jurisdiction declares any portion of this Agreement, Senate Bill #90-118 and Senate Bill 90--182, or as may be amended, or the Resolution of February 20, 1991 setting policy concerning incentive payment to taxpayers to be invalid or unconstitutional during the term of this Agreement. 7. Any payments made under this agreement that are determined not to be legal under State law or are determined to be part of the Weld County Home Rule 5% property tax limitation or State property tax limitation, shall be repaid to Weld County. 8. Payment to Taxpayer shall only be made to the extent revenues are available and appropriated in each of the four years of the term of this Agreement. 9. This Agreement is not assignable without written approval of the County. 10. Acceptance of incentive payment by Taxpayer constitutes agreement by both parties to fund incentive payment settlement for the tax year involved. 11. Notices to Taxpayer shall be made to Financial Services, Eastman Kodak Company, 9952 Eastman Park Drive, Windsor, Colorado 80551. Notices to Taxing Authority shall be made to the Board of County Commissioners of Weld County, 915 10th Street, Greeley, Colorado 80631. The above and foregoing Agreement was hereby approved on the 9 th day of December, A.D., 2002. TAXING AUTHORITY: BOARD OF COUNTY COMMISSIONERS WELD CO,9NTY L RADO ATTEST: Li, /'� � jb BY:�A. Glenn Vaad, Chair Weld County Clerk to th� :p. �1' ��` °� BY: /� • �i:. .r � Deputy Clerk to the B & ° t TAXPAYER: EASTMAN KODAK COMPANY 42L DI 2002-3144 FI0035 Hello