HomeMy Public PortalAboutResolution No. 188-03 01-14-2003 RESOLUTION NO. 188-03
•
A RESOLUTION OF THE CITY OF RICHLAND HILLS, TEXAS
INDICATING THE CITY' S ELECTION TO BECOME ELIGIBLE TO
PARTICIPATE IN TAX ABATEMENT; PROVII)ING FOR NOTICE; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS,economic development through the creation of a new industry and expansion
of existing industry that results in new wealth and/or job opportunities is important for the well
being and health of the local economy; and
WHEREAS, the City of Richland Hills must compete with other localities throughout the
United States currently offering tax incentives to attract new facilities and plant modernization
projects; and
WHEREAS, the abatement of property taxes, when offered to attract businesses which
bring in money from outside a community instead of merely recirculating dollars within a
community, has been shown to be an e~'ective method of enhancing and diversifying an area's
economy; and
WHEREAS, Section 312.002 of the Texas Tax Code requires any eligible taxing
jurisdiction to pass a resolution indicating that the City elects to become eligible to participate in
• tax abatement prior to entering into any tax abatement agreements;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF RICHLAND HILLS, TEXAS:
SECTION 1.
ORDER
The City Council hereby resolves and states that the City elects to become eligible to
participate in tax abatement.
SECTION 2.
NOTICE
Upon adoption of this Resolution, the City Secretary is directed to give notice of this
resolution in the manner required by law.
SECTION 3.
AUTHORIZATION OF NECESSARY ACTIONS
The Mayor and the City Secretary, in consultation with the City Attorney, are authorized
and directed to take all actions necessary to effectuate this resolution.
• SECTION 4.
EFFECTIVE DATE
This Resolution shall be effective upon its adoption.
PASSED AND APPROVED this I ~ k~. day of ~ 2003.
CITY OF RICHLAND HILLS, TEXAS
.
~C~
The Honorable Nelda Stroder, Mayor
ATTEST:
Terri Willis, City Secretary
APPROVED AS TO FORM AND LEGALITY:
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Tim G. Sralla, City Attorney
• RESOLUTION REGARDING ELECTION TO BECOME ELIGIBLE TO PARTICIPATE IN TA.\ ABATEMENT Page 2
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