95-4886 Ad ValoremE401934
RESOLUTION NUMBER 95-4886
A RESOLUTION EXEMPTING CERTAIN PROPERTY OWNED BY ADM
MILLING COMPANY, LOCATED AT 900 EAST PACIFIC AVENUE, SALINA,
KANSAS, FROM AD VALOREM TAXATION AND PROVIDING CERTAIN TERMS
AND CONDITIONS.
WHEREAS, the Board of City 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, ADM Milling Company formally applied for tax exemption
under said policy by an application dated June 19, 1995; and
WHEREAS, the Board of City Commissioners has reviewed said
application and an analysis of estimated costs and benefits of said tax
exemption; and
WHEREAS, the Board of City Commissioners has 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 ADM Milling Company be granted exemption from ad
valorem taxes for property to be located at or about 900 East Pacific 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
July 10, 1995 and January 10, 1997 for facilities located on the following
described property:
The East 83 feet of Lot Nine (9) , Lots Ten (10) through Sixteen
(16) and Lots Twenty-nine (29) and Thirty (30), Block One (1),
Lots Seventeen (17) through Twenty-five (25) , Block Two (2) and
all of Woodland Avenue adjacent to Lots Fifteen (15) , Sixteen (16) ,
Twenty-nine (29) and Thirty (30) , Block One (1) and Lots
Seventeen (17) through Twenty-six (26) , Block Two (2) , Marydale
Addition to the City of Salina, Saline County, Kansas.
Section 3. That no exemption shall hereby be granted for taxes due
Ion the above described land nor any existing buildings and improvements
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
E401934
51 prior
to
project completion.
Said
percentage tax exemption shall be
established
by
subsequent ordinance
of the
Board of City Commissioners.
Section 5.
That the tax
exemption shall be for a term of
ten (10)
years with the total
exemption due
granted for years one (1) through
five (5)
and one-half (1/2)
of the total
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 City 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 City Commissioners and signed by the
Mayor this 10th day of July, 1995. - �'I n
of U/�-
n Divine, Mayor
{SEAL}
ATTEST:
udy D. ng, City Clrk