R2000-075 06-12-00RESOLUTION NO. R2000-75
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS, TERMINATING THE TAX ABATEMENT AGREEMENT
BETWEEN THE CITY OF PEARLAND AND MTI ACQUISITION CORP.,
AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO TAKE
ALL APPROPRIATE MEASURES TO COLLECT THE UNPAID
AD VALOREM TAXES ABATED UNDER THE AGREEMENT, AND
REQUESTING THAT THE BRAZORIA COUNTY APPRAISAL DISTRICT
PLACE MTI ACQUISITION CORP.'S PROPERTY ON THE COUNTY
TAX ROLLS.
WHEREAS, on July 24, 1996, the City of Pearland (the "City") and MTI
Acquisition Corp. ("MTI") executed a tax abatement agreement (the "Agreement") to
abate a portion of the City's ad valorem taxes on MTI's property for a period of seven
years; and
WHEREAS, MTI has breached the Agreement by failing to keep its facility on
which the taxes are abated in operation; and
WHEREAS, the City has notified MTI that it is in default of the Agreement, and
MTI has indicated that it does not intend to remedy such breach; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That the tax abatement agreement between the City of Peadand
and MTI Acquisition Corp. authorized by Resolution No. R96-33 is hereby terminated.
Section 2. That the City Manager or his designee is hereby authorized to take
all appropriate measures to collect the unpaid ad valorem taxes that were abated under
the Agreement.
RESOLUTION NO. R2000-75
Section 3. That the City hereby requests that the Brazoria County Appraisal
District place MTI Acquisition Corp.'s property on the County tax rolls so that future
taxes will be assessed.
PASSED, APPROVED and ADOPTED this the 12th day of June
A.D., 2000.
TOM REID
MAYOR
ATTEST:
Y SECRETARY
APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY
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