HomeMy WebLinkAbout920479.tiff RESOLUTION
RE: APPROVE TAX INCENTIVE PAYMENT FOR R R DONNELLEY NORWEST, INC. AND
AUTHORIZE CHAIRMAN TO SIGN
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 the Tax Incentive Agreement
concerning R R Donnelley Norwest, Inc. , commencing 1992, and ending 1995, with
the further 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 Tax Incentive Agreement concerning R R Donnelley
Norwest, Inc. be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman 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 29th day of June, A.D. , 1992.
'�� BOARD OF COUNTY COMMISSIONERS
ATTEST: WELD C NTY, COLORADO
Weld County Clerk to the oard AYE
rge Ke edy, Chairman
�
By: L 'L44 et 6 —
Deputy Cle to the Board Constance L. Harbert, Pro-Tem
APPROVED AS TO FORM: EXCUSED
,/T2 C. W. Ki =by
/L» z NAY
AiE4County A torney Gor
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27—/2
9 �
�,, AYE
W. H. Webste
920479
4-3002-3
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 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, the R R Donnelley Norwest, 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 118; and
WHEREAS, the Taxpayer has been determined to be currently eligible for
benefits under Senate Bill 118 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 1992 and
ending 1995 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 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 118 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 118 and the Resolution of the Taxing Authority
in each year of this Agreement.
920479
RE: TAX INCENTIVE PAYMENT - R R DONNELLEY NORWEST, INC.
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, SB9O-118 or as it may be amended, or the Resolution
of February 20, 1991 setting policy concerning incentive
payments to taxpayers to be invalid or unconstitutional during
the term of this Agreement.
7. 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.
8. This Agreement is not assignable.
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 R R Donnelley Norwest,
Inc. , 259 30th Street, Greeley, Colorado 80631. Notices to
Taxing Authority shall be made to Board of County
Commissioners of Weld County, 915 10th Street, Greeley,
Colorado 80631.
The above and foregoing Agreement was hereby approved on theNday of
June, A.D. , 1992.
/� _ G ,l� TAXING AUTHORITY:
ATTEST:PILL
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
Weld cutgd
BY:GeorgenedyChaanO7/k to the Board
TAXPAYER:
R R DONNELLEY NNOORWEST, INC.
BY: A:".„...„ /cam(/. -dO 6//L
920479
RR DONNELLEY NOR.vEST, INC.
259 30th Street
Greeley, CO 80631
(303) 356-8352
Fax: (303) 350-0756
June 11, 1992
Don Warden
Weld Country Department of
Finance and Administration
P.O. Box 758
Greeley, CO 80632
Dear Don:
Enclosed you will find the signed copies of the Property Tax Incentive agreement between RR
Donnelley Norwest, Inc. and Weld County.
Thank you for your help and if you have any questions or comments, please call me at 350-0727.
Sincerely,
Kevin Schwindt
Accountant
KS:peb
Enclosure
920479
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