R-95-08-24-13B - 8/24/1995RESOLUTION NO. R- 97- 08- 14-13M
WHEREAS, in accordance with Chapter 312, Tax Code, V.A.T.S.,
as amended, and as authorized by Resolution No. R- 95- 08- 24 -13B,
dated August 24, 1995, the City entered into a tax abatement
agreement with Prudential Overall Supply, Inc., regarding property
in Reinvestment Zone No. Eleven; and
WHEREAS, the City, the Williamson County Commissioners Court,
and Prudential Overall Supply, Inc., intended for the agreement to
include the abatement of personal property taxes; and
WHEREAS, Prudential Overall Supply, Inc. experienced
unexpected delays in the construction of their facility and in
order to realize the full benefit of the agreement, Prudential
Overall Supply, Inc. has requested that the starting date be
delayed until January 1997; and
WHEREAS, the parties desire to amend the agreement to include
language evidencing their intentions and to begin the agreement in
1997; 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 that certain Amendment No. 1 to the Tax
Abatement Agreement with Prudential Overall Supply, Inc.
RESOLVED this 14th day of Au • st, 1997.
K: VPMCS PZOLOPI'.P.91D81U1.11PD /k.h
�+ LES CUL R, MAYOR
CITY OF ROUND ROCK, TEXAS
ATTEST:
City ecretary
2
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
AMENDMENT NO.1
TO
TAX ABATEMENT AGREEMENT
WITH
PRUDENTIAL OVERALL SUPPLY. INC.
This Amendment No. 1 is entered into this the /Li day of 1997 to
amend that certain agreement authorized by City of Round Rock Resolu n No. R -95-
08- 24 -13B on August 24, 1995, and by order of the Williamson County Commissioners
Court on September 19, 1995, to abate certain property taxes of Prudential Overall
Supply, Inc., for the Tax Years 1997 - 1999, inclusive.
WHEREAS, it was the intention of all parties that said above referenced Tax
Abatement Agreement was to include the abatement of personal property taxes; and
WHEREAS, the parties desire to include language in said Agreement evidencing
their intentions; NOW THEREFORE, the parties hereby do mutually agree to amend said
Agreement as follows:
1. That Section 7, "Portion of taxes abated" is amended to read as follows:
7. Portion of taxes abated. Subject to the terms and conditions
of the Agreement, and subject to the rights of the holders of any
outstanding bonds of the City and County, a portion of ad valorem real
property taxes and personal property taxes assessed against the Premises
otherwise owed to the City and County shall be abated. City and County
hereby acknowledge that they are not aware of any terms or conditions of
any outstanding bonds which would invalidate this Agreement. Said
abatement shall be an amount equal to the below - stated percentages
assessed upon the increased value of the Premises and Improvements
over the value in the year in which this Agreement is executed, in
accordance with the terms of this Agreement and all applicable state and
local regulations. The percentage of abatements are as follows:
Tax Year 1997
Tax Year 1998
Tax Year 1999
I : \ TEXT \CITY\FC MDR¢\TAXABNMAMENN1. PcS/ keh
90% abatement
60% abatement
30% abatement
These abatements shall be for three (3) tax years beginning January
1, 1997.
2. Section 10, "Events of Default." shall be amended to read as follows:
10. Events of default. In the event that (1) the Improvements for
which an abatement has been granted are not completed in accordance
with this Agreement or (2) Owner allows its ad valorem or personal
property taxes owed the City or County to become delinquent and fails to
timely and properly follow the legal procedures for protest and /or contest
of any such ad valorem or personal property taxes; or (3) Owner breaches
any of the terms or conditions of this Agreement, then this Agreement shall
be in default. In the event that the Owner defaults in its performance of
(1), (2), or (3) above, then the City or County shall give the Owner written
notice of such default and if Owner has not cured such default within thirty
(30) days of said written notice, this Agreement may be terminated by the
City or County by written notice to Owner. Such notice shall be in writing
and shall be delivered by personal delivery or certified mail to:
Prudential Overall Supply
John Thompson
P.O. Box 11210
Santa Ana, CA 92711 -1210
As liquidated damages in the event of default and in accordance
with Section 312.205, Tax Code, V.A.T.S., as amended, all taxes which
otherwise would have been paid to the City and County without the benefit
of abatement (without the addition of penalty, but interest will be charged
at the statutory rate for delinquent taxes as determined by Section 33.01
of the Tax Code) shall become a debt owed by Owner to the City and
County and shall be due, owing and paid to the City and County within
sixty (60) days of the expiration of the above mentioned applicable cure
period. The City and County shall have all remedies for the collection of
the recaptured tax revenue as provided generally in the Tax Code for the
collection of delinquent property taxes.
3. Retroactive application. It is the intentions of the parties that this Amendment
No. 1, shall be effective as of the effective date of the original Tax Abatement
Agreement, as if this amendment was fully written therein at such time.
Witness our hands this Al day of 1997.
CITY
HARLES C L ' PPER, MAYOR
2.
ROUND ROCK, TEXAS
ATTEST:
ATTEST:
WILLIAMSON COUNTY
COMMISSIONERS COURT
,CO JUDGE
PRUDENTIAL OVERALL SUPPLY, INC.
3.
DATE: August 12,1997
SUBJECT: City Council Meeting, August 14,1997
Item: 13.M. Consider resolution authorizing the Mayor to execute
Amendment No. 1 to the Tax Abatement Agreement with
Prudential Overall Supply, Inc.
Staff Resource Person: Joe Vining
Staff Recommendation: Approval
The attached Amendment No. 1 with Prudential Overall Supply, Inc. clarifies for
the Williamson County Appraisal District our intention to include personal
property in this agreement.
WHEREAS, the City Council, on the 10th day of August, 1995, in
Ordinance No. G- 95- 08- 10 -12B, created Reinvestment Zone No. Eleven in
the City of Round Rock, Texas, and
WHEREAS, in accordance with Chapter 312, Tax Code, V.A.T.S. as
amended, the City desires to enter into a tax abatement agreement with
Prudential Overall Supply, Inc., regarding property located in said
Reinvestment Zone No. Eleven, and
WHEREAS, the Council has determined that all requirements of the
guidelines and criteria adopted by Ordinance No. G- 93- 12 -09 -9G have
been complied with, 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 a Tax Abatement Agreement with Prudential Overall
Supply, Inc.
RESOLVED this 24th day of August, 1995.
ATTEST:
LAND, City Secretary
K: \RESOLUTI \RS50B24B.WPD /kg
RESOLUTION NO. R- 95- 08- 24 -13B
CHARLES CU •: "PER, Mayor
City of Round Rock, Texas
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
TAX ABATEMENT AGREEMENT
This Tax Abatement Agreement ("Agreement ") is entered into by
and between the City of Round Rock, Texas, a home rule city and
municipal corporation of Williamson County, Texas, duly acting herein
by and through its Mayor, hereinafter referred to as "City ";
Williamson County, duly acting herein by and through the County
Judge, hereinafter referred to as "County "; and Prudential Overall
Supply, Inc., a California corporation, duly acting by and through
its President or any Vice President, hereinafter referred to as
"Owner ".
RECITALS
WHEREAS, on the 10th day of August, 1995, the City Council of
the City of Round Rock, Texas, adopted Ordinance No. G- 95- 0B- 10 -12b
establishing Reinvestment Zone No. 11, City of Round Rock, Texas for
commercial /industrial tax abatement, hereinafter referred to as
"Ordinance No. G- 95- 08- 10 -12b ", as authorized by Chapter 312, Tax
Code, V.A.T.S. as amended, hereinafter referred to as the "Code "; and
WHEREAS, the City has adopted Ordinance No. G- 93- 12- 09 -9G, which
Ordinance adopted appropriate guidelines and criteria governing
reinvestment zones and tax abatement agreements to be entered into
by the City as contemplated by the Code; and
WHEREAS, the contemplated use of the Premises (as hereinafter
defined) and Improvements (as hereinafter defined) as well as the
terms of this Agreement are consistent with encouraging development
in said Reinvestment Zone No. 11 in accordance with the purposes for
its creation and are in compliance with Ordinance No. G- 93- 12 -09 -9G
and the guidelines and criteria adopted by the City and all
applicable laws; and
WHEREAS, the Improvements constitute a major investment within
Reinvestment Zone No. 11 that will substantially increase the
appraised value of property within the zone and will contribute to
the retention or expansion of primary and secondary employment within
the City and County; and
WHEREAS, the City and County find that there will be no
substantial adverse effects on the provision of governmental services
or on their tax bases and that the planned use of the Premises will
C: \WPDOCE\ CITY \AHATEWEN \PRUDENTI \TAA1.WPD /s1s
1
not constitute a hazard to public safety, health, or welfare, NOW
THEREFORE, the parties hereto do mutually agree as follows:
1. Property subject to Agreement. The property to be the
subject of this Agreement shall be that property included within
Reinvestment Zone No. 11 which is more fully described in Exhibit "A"
which is made a part hereof and shall be hereinafter referred to as
the "Premises."
2. Construction of Improvements. The Owner shall promptly
commence construction of its facility as described in Exhibit "B" on
the Premises (said facility hereinafter referred to as
"Improvements ".) The total construction cost of the Improvements is
approximately One Million, Three Hundred Thousand and no /100 Dollars
($1,300,000.00), which Improvements are to be substantially complete
on or about September 1, 1996; provided that Owner shall have such
additional time to complete the Improvements as may be required in
the event of "force majeure" if Owner is diligently and faithfully
pursuing completion of the Improvements. For this purpose, "force
majeure" shall mean any contingency or cause beyond the reasonable
control of Owner including, without limitation, acts of God or the
public enemy, war, riot, civil commotion, insurrection, governmental
or de facto governmental action (unless caused by acts or omissions
of Owner), fires, explosions or floods, and strikes. The date of
completion of the Improvements shall be defined as the date a
Certificate of Occupancy is issued by the City.
3. Completion of Improvements. The Owner agrees and covenants
that it will diligently and faithfully in a good and workmanlike
manner pursue the completion of the Improvements as a good and
valuable consideration of this Agreement. Owner further covenants and
agrees that all construction of the Improvements will be in
accordance with all applicable state and local laws and regulations
or valid waiver thereof. In further consideration, Owner shall
thereafter, from the date a Certificate of Occupancy is issued until
the expiration of this Agreement, continuously operate and maintain
the Premises as a clean room laundry facility.
4. Provision of lobs. The Owner agrees and covenants that it
will provide and /or retain at least the number of jobs on the
Premises from the completion date of the Improvements throughout the
term of this Agreement according to the following accumulative
schedule:
Date Retain New Total
August 31, 1996 30 30
December 31, 1996 30 0 30
December 31, 1997 30 10 40
December 31, 1998 40 10 50
2
The Owner shall provide to the City and County annual manpower
reports in the form attached hereto as Exhibit "E" and made a part
hereof, within sixty (60) days following the end of each calendar
year.
Regardless of anything contained herein to the contrary, the
failure by Owner to provide the number of jobs set out in the above
schedule shall not be considered an event of default as defined in
paragraph 10 below unless the number of jobs actually provided is
less than seventy -five percent (75 %) of the number set out in the
schedule. If the actual number of jobs provided at the end of any
year is less than the scheduled number but is seventy -five percent
(75 %) or more, then the percentage of tax abatement for the following
year as provided in paragraph 7 below shall be reduced. The
percentage of tax abatement shall be reduced by the same percentage
that the actual number of jobs bears to the scheduled number of jobs.
By way of illustration, if on December 31, 1996 Owner has provided
ten percent (10 %) fewer jobs than is required, then its abatement
shall be reduced by ten percentage points (i.e. the 90% abatement
shall be reduced ten percentage points to an 80% abatement.) Failure
of the Owner to provide at least seventy -five percent (75 %) of the
number of jobs required by this Agreement shall be considered an
event of default.
6. Application for tax abatement. The Owner agrees and
covenants that the attached application for tax abatement (Exhibit
"C") is a part of this Agreement, and Owner further warrants that the
information provided in that application is true and correct. If any
materially false or misleading information is provided in said
application, City or County shall have the discretion to declare this
Agreement to be in default and City and /or County shall be entitled
to the remedies provided for in paragraph 10.
7. Portion of taxes abated. Subject to the terms and
conditions of this Agreement, and subject to the rights of the
holders of any outstanding bonds of the City and County, a portion
of ad valorem real property taxes from the Premises otherwise owed
to the City and County shall be abated. City and County hereby
acknowledge that they are not aware of any terms or conditions of any
outstanding bonds which would invalidate this Agreement. Said
abatement shall be an amount equal to the below- stated percentages
assessed upon the increased value of the Premises and Improvements
over the value in the year in which this Agreement is executed, in
accordance with the terms of this Agreement and all applicable state
and local regulations. The percentage of abatements are as follows:
Tax Year 1996
Tax Year 1997
Tax Year 1998
3
90% abatement
60% abatement
30% abatement
These abatements shall be for three (3) tax years beginning
January 1, 1996.
8. Right of inspection. The Owner further agrees that the City
and County, their agents and employees shall have the right to enter
upon the Premises at any reasonable time to inspect the Improvements
in order to determine whether the construction of the Improvements
is in accordance with this Agreement and all applicable Federal,
state, and local laws, ordinances, and regulations or valid waiver
thereof. After completion of the Improvements, the City and County
shall have the continuing right to enter upon and inspect the
Premises at any reasonable time to determine whether the Premises are
thereafter maintained and operated in accordance with this Agreement
and all applicable Federal, state, and local laws, ordinances, and
regulations. If the City or County determine that a violation of a
Federal, state or local law, ordinance or regulation exists on the
Premises, the City or County may, in addition to any other authorized
enforcement action, provide to the Owner written notice of such
violation. For the purposes of this Agreement, the Owner shall have
ten (10) days from the date of the notice to cure or remedy such
violation. If the Owner fails or refuses to cure or remedy the
violation within the ten (10) day period, the Owner is subject to the
forfeiture, at the discretion of the City and /or County, of any right
to any tax abatement for a portion of the period or the entire period
covered by this Agreement. In addition, the failure or refusal to
cure or remedy the aforesaid violation shall be considered a default
of this Agreement under paragraph 10.
9. Additional assessed value of the Premises. The Owner agrees
and covenants that upon completion of the Improvements, the Premises
shall contain additional assessed value of not less than Three
Million, Seven Hundred Thousand and no /100 Dollars ($3,700,000.00)
Owner shall provide to the City and County a statement of the
value of taxable real property, personal property and equipment
within sixty (60) days following completion of the Improvements. The
City and /or County shall have the option of conducting an appraisal
by an appraiser acceptable to City and /or County to verify the value
of said property and equipment. If the value determined is one
hundred and five percent (105%) or more of the value certified by the
Owner, then the Owner shall bear the cost of the appraisal; otherwise
the cost shall be borne by the City or County requesting such
appraisal. The taxable value shall be determined on a uniform and
equal basis of assessment by the methods used by the Williamson
County Tax Appraisal District.
10. Events of default. In the event that (1) the Improvements
for which an abatement has been granted are not completed in
accordance with this Agreement or (2) Owner allows its ad valorem
4
taxes owed the City or County to become delinquent and fails to
timely and properly follow the legal procedures for protest and /or
contest of any such ad valorem taxes; or (3) Owner breaches any of
the terms or conditions of this Agreement, then this Agreement shall
be in default. In the event that the Owner defaults in its
performance of (1), (2), or (3) above, then the City or County shall
give the Owner written notice of such default and if the Owner has
not cured such default within thirty (30) days of said written
notice, this Agreement may be terminated by the City or County by
written notice to Owner. Such notice shall be in writing and shall
be delivered by personal delivery or certified mail to:
Prudential Overall Supply, Inc.
John Thompson
P.O. Box 11210
Santa Ana, CA 92711 -1210
As liquidated damages in the event of default and in accordance
with Section 312.205, Tax Code, V.A.T.S., as amended, all taxes which
otherwise would have been paid to the City and County without the
benefit of abatement (without the addition of penalty, but interest
will be charged at the statutory rate for delinquent taxes as
determined by Section 33.01 of the Tax Code) shall become a debt owed
by Owner to the City and County and shall be due, owing and paid to
the City and County within sixty (60) days of the expiration of the
above mentioned applicable cure period. The City and County shall
have all remedies for the collection of the recaptured tax revenue
as provided generally in the Tax Code for the collection of
delinquent property taxes.
11. Agricultural land. It is understood and agreed by the City,
County, and the Owner that if the Premises have been designated and
taxed as agricultural land pursuant to Chapter 23, Subchapter C, Tax
Code, V.A.T.S., this Agreement shall not be effective and no
abatement will be granted until Owner has removed the agricultural
use designation and all taxes due pursuant to Section 23.55, Tax
Code, V.A.T.S., as amended, (roll back taxes) have been paid.
12. Authorizations.
a) City. This Agreement was authorized by Re lution of
the City Council at its council meeting on the A s ( day of
1995, authorizing the Mayor to execute the Agreement on
half of the City.
b) Commissioners Court. This Agreement was authorized by
Resolution or Order of the Williamson County Commissioners Court
at its meeting on the 19th day of Septembel995, authorizing the
County Judge to execute the Agreement on behalf of the County.
5
c) Prudential. This Agreement was authorized by
Prudential Overall Supply, Inc. pursuant to authority granted
by its Bo rd, f Directors on the 25th day of July, 1995, whereby
the V,P ki ILQJ was authorized to execute this Agreement
on behalf of Prudential Overall Supply, Inc., a copy of which
authorization is attached hereto as Exhibit "D ".
13. Miscellaneous provisions.
a) City and County representations. The City and the County
each represent and warrant that the Premises does not include
any property that is owned by a member of their respective
councils or boards, agencies, commissions, or other governmental
bodies approving, or having responsibility for the approval of,
this Agreement.
b) Agreement binds successors. The terms and conditions of
this Agreement are binding upon the successors and assigns of
all parties hereto.
c) Assignment. This Agreement cannot be assigned by Owner
unless written permission is first granted by the City and
County, which permission shall not be unreasonably withheld;
provided however, Owner may assign its rights under this
Agreement to an entity which is wholly owned by Owner. No
assignment shall be approved if the assignor or assignee are
indebted to the City or County for ad valorem taxes or other
obligations.
d) Owner acting independently. It is understood and agreed
between the parties that the Owner, in performing its
obligations hereunder, is acting independently, and the City
and County assume no responsibilities or liabilities in
connection therewith to third parties.
e) Owner's Indemnity. During the term of this Agreement,
Owner agrees to indemnify and hold City and County harmless from
any and all kinds of claims, losses, damages, injuries, suits,
or judgments which may accrue to Owner, City, County, or third
parties arising out of this Agreement.
f) Venue. This Agreement is performable in Williamson
County, Texas, and venue for any suit arising hereunder shall
be in Williamson County, Texas.
Witness our hands this 19th day of September
, 19 95
6
ATTEST:
/rOlti
ANNE LAND, City Secretary
C: \NPmcs\crrx\AB TPMEN \rfmmunPrva.NPOis s
CITY OF ROUND ROCK, TEXAS
CHARLES CULP ER, Mayor
WILLIAMSON COUNTY COMMISSIONERS
COURT
Prudential Overall Supply, Inc.
By:
7
evE < ., , i ts ✓. P. Aniesal•F
EXHIBIT "A"
Page 1
Property Description
Lot 3, Block A, Oakmont Centre, Section Seven
Recorded in Cabinet I, Slides 296 -297
of the Plat Records of Williamson County, Texas
Prudential Overall Supply
(Reinvestment Zoncf 11)
EXHIBIT "B"
Description of Improvements
To Be Constructed
The proposed facility is to be a 20,000 square foot, single story tilt -up wall constructed
facility. Approximately 15,000 square feet will be used to process cleanroom rental
textiles, including laundering, sortation, finishing, mending, and packaging
operation. Approximately 5,000 square feet will be used as a general purpose office
and supply facility.
The processing facility will be equipped with cleanroom washing machines and
cleanroom steam dryers. Processing will take place in a clean room. The office
facility will be equipped with standard office furnishings, induding desks, chairs, file
cabinets, and personal computers.
The facility will be able to accommodate 10,000 square feet of future expansion and
include 50 parking spaces.
This is to certify that the statements contained herein are true and correct. The
signers hereof are authorized to make these statements on behalf of the applicant.
The filing of this document acknowledges familiarity and conformance with
guidelines and criteria for granting tax abatement. This application will become part
of the agreement which shall be enforceable and binding on the applicant. False
representations will be grounds for terminating the agreement. Any such false
statements shall be considered a default which renders the agreement void. This
application should be filed with the City Manager of the City of Round Rock, 221
East Main Street, Round Rock, Texas 78664.
I. APPLICANT INFORMATION: DATE: P/31/95
II. PROTECT INFORMATION:
A. Description of area to be designated as reinvestment zone: (attach map)
Lot 3, Block A, Oakmont Centre, Section Seven
txabmt.3.14.95
Company Name: Prudential Overall Supply
Address: PO Box 11210
Santa Ana, CA 92711
B. Description of eligible improvements (real property) to be constructed:
20,000 sq.ft. single story tilt -up wall facility
C. Current assessed value:
APPLICATION FOR TAX ABATEMENT
Land: $196,000
Real Property: -0-
Personal Property: -0-
EXHIBIT "C"
D. Estimated value of eligible improvements:
Real Property: $1,300,000
Personal Property: $2,400,000
Page 1
Local
Transfer
Total
Est. Salaries
28
2
30
$401,000
38
2
40
542,000
48
2
50
707,000
txabmt.3.14.95
E. Description of ineligible (taxable) property to be included in project:
Land
F. Estimated value of ineligible property:
$196,000
G. Estimated value of site as of January 1 preceding abatement agreement:
Land: $196,000
Improvements: -0-
Personal Property: -0-
H. This project is:
( X ) A New Plant ( ) An Expansion ( ) A Modernization
If Modernization:
Estimated economic life of existing plant: years
Added economic life from modernization: years
I. Tax abatement requested:
90% of eligible property for year 1.
60% of eligible property for year 2.
30% of eligible property for year 3.
III. ECONOMIC INFORMATION:
A. Construction Estimates:
Commencement Date:
October 1995
Completion Date:
September 1996
# of Construction Jobs
165
B. Estimated number of jobs to be created:
1. December 31, 1996
2. December 31, 1997
3. December 31, 1998
C Other estimated taxes generated by project:
Sales Tax: $120,400
Other (Identify): None
Page 2
txabmt.3.14.95
D. The proposed reinvestment zone is located in:
City: Round Rock
County: Williamson
School District: Round Rock Independent School District (RRISD)
Other Taxing Brushy Creek Water Control & Improvement District #1 of
Jurisdiction: Williamson and Milam Counties
,,„
Signat re of Authorized Company Official
(.'D N,/ %st chase ✓ VP /.7..Y.94vCE
Printed Name and Title of Authorized
Company Official
Company Representative to be contacted:
Name: John Thompson Title: V.P., Finance
Address: PO Box 11210
Santa Ana, CA 92711
Telephone No.: 714 - 250 -4855
Upon receipt of the application, the City of Round Rock may also require copies of
the latest annual stockholders report, audited financial statements, bank references,
and any other information required to evaluate the application.
Page 3
STATE OF CALIFORNIA :
VERIFICATION
COUNTY OF ORANGE .
BEFORE ME, the undersigned Notary Public, on this day personally appeared
John Thompson, Vice President of Finance of Prudential Overall Supply (Owner), being
duly sworn on his oath deposed and said that he is duly qualified and authorized in all
respects to make this affidavit; that he has read the above foregoing Application For Tax
Abatement; and that every statement contained in the Application is within his knowledge
and true and correct.
SUBSCRIBED AND SWORN TO BEFORE ME on the 1" day of September,
1995, to certify which witness my hand and official seal.
CAROL M. LONG
'{ >• COMM. # 995861 S
y Notary Pubic — California fi
ORANGE COUNTY
M/ Comm. Expires SEP 10, 1997
Notary Public, Stat o Califs
Printed Name: Carol H. Long
My Commission Expires: Sept. 10, 1997
CERTIFICATE OF THE SECRETARY - TREASURER OF
PRUDENTIAL OVERALL SUPPLY
The undersigned, being the duly appointed and authorized Secretary- Treasurer of
PRUDENTIAL OVERALL SUPPLY (the "Corporation "), hereby certifies that attached
hereto are true and accurate copies of the resolutions duly adopted by the Board of
Directors of the Corporation; such resolutions were duly adopted pursuant to authority
granted in the By -Laws of such entity; each of the resolutions attached hereto is in full
force and effect on the date hereof; and no such resolution has been revoked, modified,
supplemented, or amended in any respect as of the date hereof.
IN WITNESS WHEREOF, the undersigned has executed and delivered this
Certificate as of the 25'" day of July, 1995.
/ l )?2t,e/aa7
Secretary- Treasurer
CORPORATE RESOLUTION
ACTION TAKEN IN A WRITING BY ALL MEMBERS
OF THE BOARD OF DIRECTORS OF PRUDENTIAL OVERALL SUPPLY
"WHEREAS, the Board of Directors of PRUDENTIAL OVERALL SUPPLY (the
"Corporation ") has reviewed and considered the terms and conditions of the proposed
Tax Abatement Agreement (the "Agreement ") to be executed by and between the
Corporation and the City of Round Rock, Texas, a home rule city and Municipal
Corporation of Williamson County, Texas, pursuant to which the City of Round Rock
as agreed to award tax abatements to the Corporation in exchange for the Corporation's
agreement to locate and build a facility in the City of Round Rock.
RESOLVED: That the entering into of the Agreement by the Corporation is
hereby ratified and confirmed and that the Corporation complete and consummate the
transactions provided for therein; and that the actions of any and all employees or
officers of the Corporation, including but not limited to the actions of the Chairman of
the Board, the President, any Vice President, the Secretary - Treasurer in negotiating,
executing and carrying out the provisions of the Agreement are hereby approved, ratified
and confirmed; and
13E IT FURTHER RESOLVED: That any of the foregoing referenced officers
of the Corporation shall be and hereby are authorized and directed to perform and shall
satisfy all terms and conditions of the transactions provided for in the Agreement and
shall execute and deliver on behalf of the Corporation any and all documents necessary
or desirable to carry out such transactions in such forms as the officer executing the same
may approve, whose execution shall finally and conclusively evidence such approval of
the Corporation."
Above Certified as Correct
Board of Directors Meeting dated 7/25/95
y cC,i� ?1G e
ames K. Murray, See cretary- Treasurer
STATE OF TEXAS
I, of
(Owner) do certify that on December 31, 19_ there were full time employees
at
COUNTY OF WILLIAMSON
MANPOWER REPORT
§
§
§
EXHIBIT "E"
Signature:
Printed Name:
Title:
Date:
BEFORE ME, the undersigned Notary Public, on this day personally
appeared of (Owner),
being by me duly sworn on his oath deposed and said that he is duly qualified and
authorized in all respects to make this affidavit; and that every statement contained
in the Manpower Report is within his knowledge and true and correct.
SUBSCRIBED AND SWORN TO BEFORE ME on the day
of ,19 to certify which witness my hand and official
seal.
Notary Public, State of Texas
Printed Name:
My Commission Expires:
DATE: August 22, 1995
SUBJECT: City Council Meeting, August 24, 1995
ITEM: 13.B. Consider a resolution authorizing the Mayor to enter into
a tax abatement agreement with Prudential Overall
Supply. (Reinvestment Zone #11) (withdrawn 8/10/95)
Staff Resource Person: Joe Vining
Staff Recommendation: Approval
This is an industry new to Round Rock. Entering into this tax abatement
agreement will allow the Prudential Overall Supply to locate and build a new
facility in Round Rock. Prudential will add at least 50 new jobs to our
economy during the term of this agreement.
The proposed facility is to be a 20,000 square foot, single story tilt wall
constructed facility. Approximately 15,000 square feet will be used to process
cleanroom rental textiles, including laundering, sortation, finishing,
mending, and packaging operation. Approximately 5,000 square feet will be
used as a general purpose office and supply facility.
The office facility will be equipped with standard office furnishings, including
desks, chairs, file cabinets, and personal computers. The processing facility
will be equipped with cleanroom washing machines and cleanroom steam
dryers. Processing will take place in a clean room.
The new facility is estimated to cost $1.3 million with another injection of
$2.4 million in personal property, for a minimum investment of $3.7 million
dollars.
ECONOMIC IMPACT:
*calculated at current tax rate of .48896/$100 AV
Contracted
Value of
Year
Abatement %
Expenditures
Abatement*
1996
90%
$3,700,000
16,282.00
1997
60%
$3,700,000
10,855.00
1998
30%
$3,700,000
5,427.00
32,564.00
DATE: August 22, 1995
SUBJECT: City Council Meeting, August 24, 1995
ITEM: 13.B. Consider a resolution authorizing the Mayor to enter into
a tax abatement agreement with Prudential Overall
Supply. (Reinvestment Zone #11) (withdrawn 8/10/95)
Staff Resource Person: Joe Vining
Staff Recommendation: Approval
This is an industry new to Round Rock. Entering into this tax abatement
agreement will allow the Prudential Overall Supply to locate and build a new
facility in Round Rock. Prudential will add at least 50 new jobs to our
economy during the term of this agreement.
The proposed facility is to be a 20,000 square foot, single story tilt wall
constructed facility. Approximately 15,000 square feet will be used to process
cleanroom rental textiles, including laundering, sortation, finishing,
mending, and packaging operation. Approximately 5,000 square feet will be
used as a general purpose office and supply facility.
The office facility will be equipped with standard office furnishings, including
desks, chairs, file cabinets, and personal computers. The processing facility
will be equipped with cleanroom washing machines and cleanroom steam
dryers. Processing will take place in a clean room.
The new facility is estimated to cost $1.3 million with another injection of
$2.4 million in personal property, for a minimum investment of $3.7 million
dollars.
ECONOMIC IMPACT:
*calculated at current tax rate of .48896/$100 AV
Mayor
Charles Culpepper
Mayor Pro-tem
Earl Palmer
Council Members
Robert St!uka
Rod Morgan
Rick Steuart
Martha Chase;
Jimmc Joseph
City Manager
Robert 1.. Bennett. Jr.
City Attorney
Stephan L Sheets
September 8, 1995
THE CITY OF ROUND ROCK
221 East Main Street
Round Rock, Texas 78664
512- 255 -3612
Mike Heiligenstein
County Commissioner Precinct #1
307 E. Main Street
Round Rock, Texas 78664
Re: Prudential Overall Supply, Inc. Tax Abatement Agreement
Dear Commissioner Heiligenstein:
Attached are three originals of the above noted tax abatement agreement.
Please place this on the next Commissioner Court agenda for the Judge's
signature. After action has been taken, please ask Jane Tableriou to return
all three originals to me for distribution.
Thank you for your assistance.
ncerely,
hc.A�J
Mona Ryan, Planning Technician
Planning and Community Development
City of Round Rock, Texas
enclosure
mr/bhs
Fax 512- 255 -6676 1-800-735-2989 (TDD) 1- 800 - 735 -2988 (Voice)
Mayor
Charles Culpepper
Mayor Pro-tern
Earl Pulver
Council Members
Robert Sthtka
Rod Morgan
Rick Stewart
Martha Chaves
Jima, Joseph
City Manager
Robert L Bennett. Jr.
City Attorney
Stephan L Sheers
August 29,1995
Prudential Overall Supply
Attn: John Thompson
Vice President of Finance
1661 Alton Parkway
Irvine, CA 92714
re: Abatement Agreement
enclosures
truly yours/
Ap t
THE CITY OF ROUND ROCK
221 East Main Street
Round Rock, Texas 78664
512-2.55-3612
Via Federal Express
Dear Mr. Thompson:
Enclosed are three duplicate originals of the Prudential Overall Supply tax
abatement agreement. Please complete the areas that have been marked and
return the documents to me. After your signatures have been obtained, I
will get Mayor Culpepper to sign and then request that the tax abatement be
placed on the Williamson County Commissioners Court agenda for Judge
Doerfler's signature. An original will be sent back to you when this process
has been completed.
If you have any questions, please call me at 512 - 255 -3612, extension 357.
Mona Ryan, P1• g Technician
Planning and C r . unity Development
Fax 512- 255 -6676 1- 800 - 735.2989 (TDD) 1- 800. 735.2988 (Voice)