92-9494 Ad Valorem ExemptionKuh. CO% Printing — S101. Kansas
REPEALED
(Published in The Salina Journal February d? U , 1992)
ORDINANCE NUMBER 92-9494
AN ORDINANCE EXEMPTING CERTAIN PROPERTY OWNED BY WYATT
FOUNDRY, INC. LOCATED AT 601 IDLEWILDE PLACE, SALINA, KANSAS,
FROM AD VALOREM TAXATION AND PROVIDING FOR CERTAIN IN LIEU OF
TAX PAYMENTS AND AUTHORIZING THE MAYOR TO EXECUTE AN AGREEMENT
AMENDING SECTION 7.6 "PAYMENT IN LIEU OF TAXES" OF THE LEASE BY
AND BETWEEN THE CITY OF SALINA, KANSAS AND WYATT FOUNDRY, INC.
DATED JUNE 1, 1991.
IKansas:
BE IT ORDAINED by the Governing Body of the City of Salina,
Section 1. That the governing body hereby ratifies its May 6, 1991
adoption of Resolution Number 91-4300 granting Wyatt Foundry, Inc. exemption
from ad valorem taxes for property to be located at or about 601 Idlewilde
Place, Salina, Kansas under terms of the City of Salina Tax Exemption Policy
and the conditions set out herein, all pursuant to Section 13 of Article 11 of
the Kansas Constitution and K.S.A. 79-251.
Section 2. That the tax exemption shall apply to buildings and
improvements constructed and equipment and machinery purchased between
May 6, 1991 and November 6, 1992 for facilities located on the following
described property:
The East Half
of Lot Three
(3) , all
of Lots Four (4) , Eight
(8) , Nine (9) ,
Ten (10) and
Eleven
(11) , all in White Acres
in the City of
Salina, Saline
County,
Kansas.
Section 3. The governing body finds and makes a factual
determination that the exemption herein granted for tangible personal property
is required to retain jobs in the State of Kansas.
Section 4. That no exemption shall be granted for taxes due on
the above described land nor any existing building and improvements located
thereon as of May 6, 1991.
Section 5.
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
249 prior to project completion. Said percentage tax exemption shall be
established by subsequent ordinance of the Board of Commissioners.
Section 6. 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).
Kinn -C- Printing — Salina. Kansas
Section 7. That the amount of property taxes not exempted or
equivalent payments in lieu of taxes shall be paid annually to the County
Treasurer. The County Treasurer shall distribute said payment 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 8. 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 9. That the applicant shall be responsible for filing the
appropriate tax exemption claim forms as required by the statutes of the State
lof Kansas.
Section 10. That the Board of Commissioners shall have the right
Ito revoke this tax exemption for failure to comply with the terms and
conditions of this ordinance or the provisions of the City of Salina Tax
Exemption Policy.
Section 11. That the Mayor is authorized to execute an agreement
amending Section 7.6 "Payment in Lieu of Taxes" of the Lease by and between
the City of Salina, Kansas and Wyatt Foundry, Inc. dated June 1, 1991 to
provide as follows:
"Section 7.6. Payments in Lieu of Taxes. As long as
the terms of the Issuer's Tax Exemption Policy set forth in
Resolution No. 91-4265 and Resolution No. 91-4300 as
ratified by Ordinance No. 92-9494 are met and maintained,
no payment in lieu of taxes will be required from the
Tenant for the Project as purchased, constructed or
equipped with the proceeds of the Bonds for the five (5)
year period of 1993 to 1997, inclusive. Subject to the
same condition, the amount of the payment in lieu of taxes
for the years 1998 to 2002, inclusive, shall be one-half of
the taxes which would have been levied against the Project
were it not for the Constitutional property tax exemption
granted by the Issuer. Such payments shall be made at
the times (and with privilege for payment of one-half
amounts) that ad valorem taxes are due. If the conditions
referred to in this Section are not met or maintained, the
Issuer reserves the right to modify the payments in lieu of
taxes in accordance with its Resolution Nos. 91-4265 and
91-4300 as ratified by Ordinance No. 92-9494. No payment
in lieu of taxes will be required for any year in which the
Project is subject to full ad valorem taxation."
Kuhn -Cox Printing — Salina, Kansa,
Section 12. That this ordinance shall take effect and be in full force
from and after its adoption and publication once in the official city newspaper.
Introduced: February 24, 1992
Passed: February 24, 1992
Stephen C. Ryan, Mayor
( SEAL)
- II ATTEST :
,,, SL
Jacquiline Shiever, City Clerk