HomeMy WebLinkAbout20033283 RESOLUTION
RE: APPROVE AGREEMENT FOR TAX INCENTIVE PAYMENTS AND AUTHORIZE
CHAIR TO SIGN - OWENS-BROCKWAY GLASS CONTAINER, INC.
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 Owens-Brockway Glass Container, Inc., 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 Owens-Brockway Glass Container, Inc., 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 1st day of December, A.D., 2003.
BOA D OF COUNTY COMMISSIONERS
WEL OUNT„Y, COLORA
gel,
„/,,{� �' Jr
eck
vid E. Long, Chair
A.Weld County Clerk to a
♦ Robert D. sden, ro-Tem
BY:
Deputy Clerk to the't
M. J. eile
O D AS T
William H. Jerke 1/
ounty Att ney /�Q' tie eg\
�/ Glenn Vaad
Date of signature: fry
2003-3283
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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, Owens- Brockway Glass Container, Inc. (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 2014 and which have not appeared on previous schedules shall be
paid to the Taxpayor by the Taxing Authority. Only property placed in service
within the Taxing Authority during the tax years given above shall qualify.
2. Such payment shall be made to the Taxpayer or assignee by the Weld 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 and continues to employ not less than 100 people within the Taxing
Authority.
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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 the Taxing
Authority.
8. This Agreement is not assignable without written approval of the Taxing Authority.
9. Acceptance of incentive payment by Taxpayer constitutes agreement by both
parties to fund incentive payment settlement for the tax year involved.
10. Notices to Taxpayer shall be made to Owens-Brockway Glass Container, Inc.,
One SeaGate, Toledo, Ohio 43666, Attn: Tax Department. 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 /if day of
December, A.D., 2003.
TAXING AUTHORITY:
BOAR OF COUNTY COMMISSIONERS
WEL UN C LO DO
ATTEST: ,� E.�. .. , BY:
'� 7 David E. Long, Chair
Weld County Clerk to the .ar '
1861 ( d°t-9 ./1
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BY:
Deputy Clerk to the Bo NI
TAXPAYER:
OW EN ROC Y"AS TNER,
INC. �
BY: Robtsx E. licomiu-Efl VICE PRES.
W:\DOCS\DOCUMENTS\184\CORR\55229.DOC
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