HomeMy WebLinkAbout950847.tiff RESOLUTION
RE: APPROVE AGREEMENT FOR 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 a Tax Incentive Agreement between the
County of Weld, by and between the Board of County Commissioners, Weld County, Colorado, and
R R Donnelley Norwest, Inc., with the 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 between the County of Weld, by and between
the Board of County Commissioners, Weld County, Colorado, and 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 1st day of May, A.D., 1995.
BOARD OF COUNTY COMMISSIONERS
1A/KD COUNTY, CO ORADO
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ATTEST: 4
, 1/ ' _ ' Dale K. Hall, Chairman
Weld Count ��
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A��: Barbar J Kirkmeye Tem
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BY: •[ I Deputy Clergy to the Board 0Sr/c-
George g. Baxter
APPROVED AS TO FORM:
FxCh JSFn
Constance L. Harbert (//
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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, 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 #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 1996 and ending 1999 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.
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AGREEMENT - R R DONNELLEY NORWEST, INC.
PAGE 3
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.
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 #94-182, 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 t 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.
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AGREEMENT- R R DONNELLEY NORWEST, INC.
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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 R R Donnelley Norwest,
Inc., 259 30th Street, Greeley, Colorado 80631. 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 �— day of May, A.D.,
1995.
TAXING AUTHORITY:
t BOARD OF COUNTY COMMISSIONERS
ATTEST: �! ' ._ / Ma? W COUNTY, COL RADO
Weld County Clerk to the Board BY
��
Dale K. Hall, Chair an oS�O//95
BY: •SAM l�r
Deputy Q$k to the Board
TAXPAYER:
R R DONN LEY NORWEST, INC.
EYE
BY: (efre
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