97-5168 Ad ValoremCORS ,d,,M Sill,
A RESOLUTION EXEMPTING CERTAIN PROPERTY OWNED BY
SALINA VORTEX CORPORATION, LOCATED AT 3024 ARNOLD AVENUE,
SALINA, KANSAS, FROM AD VALOREM TAXATION AND PROVIDING FOR
CERTAIN TERMS AND CONDITIONS.
WHEREAS, the Board of Commissioners, by Resolution Number
91-4265 has adopted a policy for the granting of exemptions from ad valorem
taxation for economic development purposes; and
WHEREAS, Salina Vortex Corporation, formally applied for tax
exemption under said policy by application dated May 19, 1997; and
WHEREAS, the Board of Commissioners has reviewed said application
and an analysis of estimated costs and benefits of said tax exemption; and
WHEREAS, the Board of Commissioners has notified affected taxing
districts and advertised and held a public hearing this day to consider said
tax exemption application, SO NOW, THEREFORE
BE IT
RESOLVED
by the Governing Body of the City
of Salina,
Kansas:
Section
1. That
Salina Vortex Corporation be granted
exemption
from ad valorem
taxes for
property to be located at or about 3024 Arnold
Avenue, Salina,
Kansas, under terms of the City of Salina tax
exemption
policy and the conditions set
out herein.
Section 2. That tax exemption shall apply to buildings and
improvements constructed and equipment and machinery purchased between
June 16, 1997 and December 16, 1998 for facilities located on the following
described property:
A tract of land located in the North half of Section Three
(3) , Township Fifteen (15) South, Range Three (3) West
of the Sixth Principal Meridian in the Schilling
Subdivision of the City of Salina, Saline County, Kansas;
more particularly described as follows:
Commencing at the Northwest corner of the Northeast
Quarter (NE/4) of said Section Three (3), Township
Fifteen (15) South, Range Three (3) West;
Thence East along the North line of said Section Three (3)
on an assumed bearing of South eighty-nine degrees
fifty-three minutes twenty-four seconds East
(S.89 -53'24"E.) a distance of two hundred twenty-nine and
ten hundredths feet (229.10') to the centerline of Arnold
Avenue;
Thence South zero degrees six minutes twenty-four
seconds East (S.00°06'24"E.) a distance of one hundred
eighty-three and nineteen hundredths feet (183.19') ;
Thence South eighty-nine degrees fifty-three minutes
thirty-six seconds West (S.89°5336"W.) a distance of forty
feet (40.001) to the TRUE POINT OF BEGINNING;
Thence South zero degrees
seconds East (S.00 -06'24"E.)
fifty feet (250.00') ;
six minutes twenty-four
a distance of two hundred
Thence South eighty-nine degrees fifty-three minutes
thirty-six seconds West (S.89'53136"W.) a distance of two
hundred thirty-five feet (235.00');
Thence North zero degrees
seconds West (N.00°06'24"W. )
fifty feet (250.00');
six minutes twenty-four
a distance of two hundred
Thence North eighty-nine degrees fifty-three minutes
thirty-six seconds East (N.89°53'36"E.) a distance of two
hundred thirty-five feet (235.00') to the TRUE POINT OF
BEGINNING.
Consdiea�eo--Sauna
The above described tract contains 1.349 acres, more or
less.
Section 3. That no exemption shall hereby be granted for taxes due
on the above described land nor any existing buildings and improvements or
machinery and equipment located thereon.
Section 4. That the percentage of tax exemption shall be based
upon actual capital investment expenditures for new buildings and equipment
and the number of new full-time employees added above the base employment of
44 prior to project completion. Said percentage tax exemption shall be
established by subsequent ordinance of the Board of Commissioners.
Section 5. That the tax exemption shall be for a term of ten (10)
years with the total percentage exemption due granted for years one (1)
through five (5) and one-half (1/2) of the total percentage exemption due
granted for years six (6) through ten (10) .
Section 6. That the amount of property taxes not exempted shall be
paid annually to the County Treasurer. The County Treasurer shall distribute
said payments to affected taxing jurisdictions according to the provisions of
K.S.A. 12-148. Failure to fully make such payments when due shall be
deemed grounds for the revocation of said tax exemption.
Section
7.
That the
applicant shall submit an annual report as
required by the
City
of Salina
tax exemption policy by January 15 of each
year for as long
as the
exemption
remains in effect.
Section 8. That the applicant shall be responsible for filing the
appropriate tax exemption claim forms as required by the statutes of the State
of Kansas.
Section 9. The Board of Commissioners shall have the right to
revoke this tax exemption for failure to comply with the terms and conditions
of this resolution or the provisions of the City of Salina tax exemption policy.
Adopted by the Board of Commissioners and signed by the Mayor
this 16th day of June, 1997.
Q��
K istin M.�Seaon, Mayor
[ SEAL]
ATTEST:
Judy . Lon CMC, City lerk