HomeMy WebLinkAbout20052418.tiff RESOLUTION
RE: APPROVE AGREEMENT FOR TAX INCENTIVE PAYMENTS AND AUTHORIZE CHAIR
TO SIGN - LOCK\LINE, LLC
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 an Agreement for Tax Incentive Payments
between the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, and lock\line, LLC, 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 Agreement for Tax Incentive Payments between the County of Weld,
State of Colorado, by and through the Board of County Commissioners of Weld County, and
lock\line, LLC, be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to
sign said agreement.
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 15th day of August, A.D., 2005.
BOARD OF COUNTY COMMISSIONERS
�1 WELD COUNTY, COLORADO
e IN, ` //D'(/vG"`erg/(
A _ �.�.
� William H. J <e, Chair
1861 d-CepA CI� k to the Board
O M. ile, Pro-Tem
lerk to the Board
Da . E Long
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AP D AS T M: Robe . Masd'�
ounty A orney er_
/, Glenn Vaad
Date of signature: `/� �r
2005-2418
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INNOVATIVE SOLUTIONS FOR L0STO0EA PROTECTION
August 4, 2005
Mr. Donald A. Warden
Finance &Administration Director
Weld County
P.O. Box 758
Greeley, CO 80632
Dear Mr. Warden:
Please find enclosed two executed copies of the tax incentive agreement for personal property
tax for lock\line, LLC. I appreciate your assistance in this matter and look forward to the return
of a signed copy upon approval by the Board of County Commissioners of Weld County,
Colorado.
Sincerely,
cason K. Martin
Finance Officer
Enclosures: 2
cc: John A.Jasinski
lock\line,LLC
lockVline Insurance Agency,LLC
8880 Ward Parkway/Kansas City,MO 64114 2005-2418
(816)237-3000'FAX:(816)237-3604
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, lock\line, LLC(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 ten tax years beginning 2005 and
ending 2008 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.
2005-Z�I is
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AGREEMENT- LOCK\LINE, LLC
PAGE 2
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.
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 ten 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 Jason K. Martin, Finance Officer, lock\line,
LLC, 8880 Ward Parkway, Kansas City, MO 64114. Notices to Taxing Authority
shall be made to the Board of County Commissioners of Weld County, 915 10th
Street, Greeley, Colorado 80631.
IStin Aucsi,6j-
The above and foregoing Agreement was hereby approved on the *th day of', A.D., 2005.
TAXING AUTHORITY:
l
aei ` --4t-- - BOARD OF COUNTY COMMISSIONERS
b WELD COUNTY, COLORADOa di
> ATTEST: L4/4i4 G��� BY: `tt`, I d,—r
_ William H. Jerke, Chair AUG 1 5 2005
Weld County Clerk to the Board
BY: *I-it`T %/i -stir
Deputy Clerk to the Board
TAXPAYER:
LOCK\LINE, LLC
•
2005-2418
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