R-1467-10-96A RESOLUTION OF THE C1CTY OF ALLEN, TEXAS
RESOLUTION NO. 1467-10-96(R)
A RESOLUTION OF THE CITY OF ALLEN, TEXAS, AppROVING THE TERMS
AND CONDITIONS OF A TAX ABATEMENT AGREEMENT By AND AMONG THE
CI'T'Y OF ALLEN, TEXAS, KREG SW -LP AND ELECTRONIC DATA SYSTEMS
INCORPORATED; AUTHORIZING ITS EXECUTION BY THE MAYOR; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council has been Presented a ProPosed Tax Abatement Agreement
by and among the City of Allen, Texas, KREG SW Lp and Electronic Data Systems Incorporated,
a copy of which is attached hereto and incorporated herein by reference; and -
WHEREAS, upon full review and consideration of the Agreement, and all matters related
thereto, the City Council is of the opinion and finds that the terms and conditions thereof should be
approved, and that the Mayor should be authorized to execute the Agreement on behalf of the City
of Allen, Texas;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE --
CITY OF ALLEN, TEXAS, that: -
1. The Agreement attached hereto having bow reviewed by the City Council of the
City of Allen, Texas, and found to be acceptable and in the best interest of the City
and its citizens, be, and the same is hereby, in all things approved, and the Mayor is
hereby authorized to execute the Agreement on behalf of the City of Allen, Texas.
2. The City Council finds that the improvements Proposed to be built upon the
Premises described in the Agreement will enhance the economic vitality of the
community through a combination of new capital investment. increased sales tax
revenues, and the creation of additional job opportunities.
3. The tax abatetnent to be granted by the Agri will not include inventories, and
supplies.
4. The improvements proposed for the Premises will accomplish the tax abatement
guidelines of the City of Allen, Texas.
5. The City Manager delivered to the presiding officer of the governing body of each
taxing unit in which the property subject to the Agreement is located, a written
notice that the City of Allen, Texas, intends to enter into the Agreement. The notice
given by the City Manager included a copy of the Agreement approved by this
Resolution.
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6. This Resolution and the Tax Abatement Agreement are hereby approved by the
affirmative vote of the majority of the members of the City Council of the City of Allen,
Texas, at a regularly scheduled meeting of the City Council.
7. This Resolution shall become effective immediately from and after its passage.
DULY RESOLVED AND ADOPTED by the City Council of the City of Allen,.Texas, on
this the 17th day of October . 1996.
APPROVED:
Kevin L. Lilly, MAYOR
ATTEST:
Ju Morr' , CMC, CITY SECRETARY
RESOLUTION NO. 1467-10-96(R)
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