R-2017-4722 - 8/24/2017 RESOLUTION NO. 2017-4722
WHEREAS, the City of Round Rock ("City") has previously entered into an Economic
Development Program Agreement ("Agreement") with Fisher Rosemount Systems, Inc. ("Fisher") on
the 11th day of August, 2011; and
WHEREAS, City and Fisher now wish to enter into a First Amendment to amend certain terms
and provisions in the Agreement,Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Mayor is hereby authorized and directed to execute on behalf of the City, First
Amendment to the Economic Development Program Agreement Between the City of Round Rock and
Fisher Rosemount Systems, Inc., a copy being attached hereto as Exhibit "A" and incorporated herein
for all purposes.
The City Council hereby finds and declares that written notice of the date, hour, place and
subject of the meeting at which this Resolution was adopted was posted and that such meeting was
open to the public as required by law at all times during which this Resolution and the subject matter
hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 24th day of August, 2017.
CRAI �OR
, Mayor
city f un , Texas
ATTEST:
SARA L. WHITE, City Clerk
0112.1704;00384002
EXHIBIT
141. "A"
FIRST AMENDMENT
TO THE
ECONOMIC DEVELOPMENT PROGRAM AGREEMENT
BETWEEN THE
CITY OF ROUND ROCK
AND
FISHER ROSEMOUNT SYSTEMS,INC.
THIS FIRST AMENDMENT 'FO THE ECONOMIC DEVELOPMEN]" PROGRAM
AGREEMENT BETWEEN THE CITY OF ROUND ROCK AND FISHER ROSEMOUNT SYSTEMS,
INC. (the"First Amendment")is dated and entered into as of the 27 day of 2017,
by and between the City of Round Rock,Texas,a home rule municipal corporation,(the"City")and Fisher
Rosemount Systems, Inc. a Delaware corporation("Fisher").
WHEREAS, on the I IIS' day of August, 2011, the City and Fisher previously entered into an Economic
Development Program Agreement(the"Agreement");and
WHEREAS,the parties with to amend certain terms and provisions in the Agreement;
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the
sufficiency of which are hereby conclusively acknowledged, and subject to the terms and conditions
hereinafter set forth,the parties agree as follows:
ARTICLE 1
DEFINITIONS
All terms used herein shall have the meanings assigned to them in the Agreement,unless the context clearly
requires otherwise.
ARTICLE H
AMENDMENT TO SEC. 2.4
Section 2.4 of the Agreement is hereby amended to read as follows:
2.4 "Improvements" means the finish out of and additions to the Facility, and personal
property and equipment with a minimum ad valorem tax value Of fifty million dollars
($50,000,000).
ARTICLE 111.
AMENDMENT TO SEC.4.3.2
Section 4.3.2 of the Agreement is hereby amended to read as follows:
First Amendment; Clean; 6-7-17(00379873).docx
4.3.2 Additional Jobs. Fisher agrees that it will have the number of full-time employees and/or
contract workers on the dates set forth below:
Date Number of'f'ull-tine employee
January 1,2017 745
January 1, 2018 745
January 1,2019 745
ARTICLE IV
AMENDMENT TO SEC. 4.4
Section 4.4 of the Agreement is hereby amended to read as follows:
4.4 ;I1ot-e./motel stays. Fisher agrees to generate the number of hotel./motel nights in hotels and
motels located in the City limits as set forth below:
Year Number of 1-lotel/motel Nights
2016 7,500
2017 6,000
201.8 65750
Fisher agrees to file with the City no later than February 1 of each year,beginning February
1, 2018, an affidavit with supporting documentation stating that this obligation has been
satisfied for the previous calendar year. City shall have the right to audit Fisher's records
to verify that this obligation has been satisfied.
ARTICLE V
MISCELLANEOUS
5.1 To the extent necessary to effect the terms and provisions of this First Amendment,the Agreement
is hereby amended and modified. In all other respects, the aforesaid Agreement is hereby ratified and
confirmed.
5.2 This First Amendment may be executed in counterparts, each of which shall be an original and all
of which together shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly
executed as of the day and year first above written.
(Signatures on Following Pages)
2
CITY OF ROUND ROCK,TEXAS
By:
Craig Morgan, Mayor
Attest:
Sara White,City Clerk
Approved as to form:
Stephan L. Sheets,City Attorney
3
FISHER ROSEMOUNT SYSTEMS,INC.
By: .
Printed Name:
Its:
4