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R-95-12-14-13B - 12/14/1995ATTEST: RESOLUTION NO. R- 95- 12- 14 -13B WHEREAS, the City Council, on the 21st day of November, 1995, in Ordinance No. G- 95- 11- 21 -9E, created Reinvestment Zone No. Thirteen 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 Mid States Plastics regarding property located in said Reinvestment Zone No. Thirteen, 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 Mid States Plastics. RESOLVED this 14th day of December, 1995. E LAND, City Secretary C:\ HFDDCS \RBSDLDTI \RS51214B.HPD /kg CHARLES CULPEP R, 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 "; and Mid - State Plastics, a division of Anchor Advanced Products, Inc., a Tennessee corporation, duly acting by and through its President or any Vice President, hereinafter referred to as "Owner ". RECITALS WHEREAS, on the 21st day of November, 1995, the City Council of the City of Round Rock, Texas, adopted Ordinance No. G- 95- 11 -21 -9E establishing Reinvestment Zone No. 13, City of Round Rock, Texas for commercial /industrial tax abatement, hereinafter referred to as "Ordinance No. G- 95- 11- 21 -9E ", 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. 13 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. 13 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 WHEREAS, the City find that there will be no substantial adverse effects on the provision of governmental services or on its tax base and that the planned use of the Premises will not constitute a hazard to public safety, health, or welfare, NOW THEREFORE, the parties hereto do mutually agree as follows: C:\ WPDDCE\ ACITY\ ABAT E1EN\MIDSTATE \TAARED.WP ID/ s1s 1 1. Property subject to Agreement. The property to be the subject of this Agreement shall be that property included within Reinvestment Zone No. 13 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, Two Hundred Fifty Thousand and no /100 Dollars ($1,250,000.00), which Improvements are to be substantially complete on or about May 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 semiconductor fabrication facility. 4. Provision of jobs. 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 schedule: Date Retain New Total On May 1, 1996 56 80 136 On December 31, 1996 136 0 136 On December 31, 1997 136 0 136 On December 31, 1998 136 0 136 The Owner shall provide to the City 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. 2 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 90% 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 shall have the discretion to declare this Agreement to be in default and City 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, a portion of ad valorem real property taxes from the Premises otherwise owed to the City shall be abated. City hereby acknowledges that it is 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, its 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 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 determines that a violation of a Federal, state or local law, ordinance or regulation exists on the Premises, the City 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, 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 property added to the Premises. The Owner agrees and covenants that upon completion of the Improvements and during the term of this Agreement that the Improvements and added personal property shall provide additional assessed value over and above the value of the existing taxable property of not less than One Million Two Hundred Sixty Thousand and no /100 Dollars ($1,260,000.00). Within sixty (60) days following completion of the Improvements and by March 1, of each year thereafter, Owner shall provide to the City documentation showing to the satisfaction of the City that the cost of taxable real property, personal property and equipment within sixty (60) days following completion of the Improvements is in compliance with the foregoing requirement. 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 taxes owed the City 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 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 by written notice to Owner. Such notice shall be in writing and shall be delivered by personal delivery or certified mail to: 4 12. Authorizations. Charles Parker Director of Operations Mid -State Plastics 2820 Oakmont Dr. Round Rock, Texas 78664 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 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 shall be due, owing and paid to the City within sixty (60) days of the expiration of the above mentioned applicable cure period. The City 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 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. a) City. This Agreement was authorized by Resolution of the City Council at its council meeting on the 14th day of December, 1995, authorizing the Mayor to execute the Agreement on behalf of the City. b) Mid -State Plastics. This Agreement was authorized by Mid -State Plastics a division of Anchor Advanced Products pursuant to authority granted by its Board of Directors on the 13th day of December, 1995, whereby the Facility Manager was authorized to execute this Agreement on thel4thday of December 1995, a copy of which authorization is attached hereto as Exhibit "D ". 13. Miscellaneous provisions. a) Citv representations. The City represents and warrants that the Premises does not include any property that is owned by a member of the city council or boards, agencies, commissions, or other governmental bodies approving, or having responsibility for the approval of, this Agreement. 5 EST: 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, 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 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 assumes 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 harmless from any and all kinds of claims, losses, damages, injuries, suits, or judgments which may accrue to Owner, City, 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 14th day of December , 19 95 NNE LAND, City Secretary N L. SHEET , City Attorney CITY ,OF ROUND ROCK, TEXAS CHARLES CUL R, Mayor 6 APPROVED AS TO FORM: By: , Corporate Attorney 7 Mid -State lastics/ a 'vision of Anchor anted mod s, c. , its 12im°G%aJZ' 07 .off /?ATiONS Exhibit A Legal Description Lot 1, Block A, Oakmont Centre Section 2 EXHIBIT B DESCRIPTION OF IMPROVEMENTS This expansion will include a 24,000 sq.ft. extension of the building and ten additional Van Dorn 85 -700 Ton presses with auxiliaries. i. ":i:: r,:iti ri!n STFITE PLASTICS TO 255T345 P.a EXHIBIT °c" AFFIXATION FOR TAX ABATEMENT This is to certify that the statements contained herein are tree 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 readers the agreement void. This application should be filed with the City Manager of the Qty of Rotmd Rock, 221 East Main Street, Round Rock Texas 78664. L APPjJCANT INkV$MATIQQN: DATE 11-7 11 ` ,t A. Companyx Name n { Uatn6Pd Praulc`s M.cl -S"Fate rletSlic5 "SwtStpn o r it. Address 2820 oak t Di: Rox..nd (12ack. TX '7$664 - >x atOJECr INFORMATION: A. Description Of area to be designated as reinvestment zone: (attach map) $. Description of eligible improvements (r propertyl to constructed: 24 St, f+. adal'fkr - for CrvAni c:. cur`tntj . C. Current assessed value gl ¢Z R D. Estimated value of eligible improvements: 1 .2 5 fridtior. L. Description of ineligible (taxable) property to ba included in project: 14 TOTAL P..130 Fug 07 1975 15i v FROM MID-STATE PLASTICS TO F. Estimated value of ineligible property: IG / n oo G. Estimated value of site as of January 1 prmeding abatement anaemia& CO Land $ I fo5 3 4+ r1 ae tea (2) Improvements 7.16;i07.1±4 (3) Personal Property ton etk o r , g l coat H. This project is: () A New Plant An Expansion 0 A Modernization If Modernization: Estimated economic life of existing Added economic life from modernization: L Tax abatement requested: 1 % of eligible property for year 1. 100 % of eligible property for year 2. 1 % of eligible property for year 3. 5D % of eligible property for year 4. _ 2S_% of eligible property for year 5. III. ECONOMIC INFORMATION: years Years A. Constnirticm )estimates: (1) Commencement Date: 11 -2$-q5 195 (2) Completion Date: 5- 1 - °I f7 .19%7 (3) Number of Construction Jobs: 5. Estimated number of jobs to be created: Local Transfer Total 1- December 31, 1 0 7 1 `7 ? 2. December 31, I9 3. December 31, 19 4. December 31,19_ 5. December 31, 19 15 2553345 P. 6L Signature of Authorized Company Official an F LAc I punnin Name and Tide of Authorized Company Offdal Company Representative be contacted: ( Parker Telephone 16 NOM 07 1095 15:16 mum MID -STATE PLASTICS TO 2553345 P.03 C. Other estimated.. .xes generated by project: r (1) Sales Taxes: (2) Other (Identify): D. The proposed reinvestment zone is Iocatedin: (I) City: Roc, INa Ro (2) County: 1A11 Taw,san (3) School District (4) Other Taxing jurisdiction: Name [� �tr cc dr D"T Op eroZ. ns Title 1 28 Cli4,-IC4 p F^ Pouv,c1 V ci T% 4 Address 512- 38$ -77(7 Upon receipt of the application, the City of Round Rock may also requite copies of the latest annual stockholders report, audited financial statements, bank references, and any other information required to evaluate the application. TOTAL P.03 Francis H. Olmstead, Jr. President and C.E.O. City of Round Rock, Texas To Whom It May Concern: EXHIBIT D Anchor Advanced Products, Inc. December 13, 1995 Please be advised that Charles Parker, Facility Manager of Anchor Advanced Products, Mid -State Plastics Division facility located at 2820 Oakmont Drive, Round Rock, Texas 28664, is authorized to sign in behalf of Anchor Advanced Products for all tax abatement issues concerning that facility. frke Francis H. Olmstea s , Jr. Anchor Advanced Products, Inc. Chief Executive Officer and Chairman of the Board 1111 Northshore Drive, Suite N -600 • Knoxville, Tennessee 37919 -4048 • (423) 450 -5300 STATE OF TEXAS MANPOWER REPORT I, of (Owner) do certify that on December 31, 19_ there were full time employees at Mid State Plastics, 2820 Oakmont Drive, Round Rock, Texas. § § COUNTY OF WILLIAMSON § 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: December 12,1995 SUBJECT: City Council Meeting, December 14, 1995 ITEM: 13.B. Consider a resolution authorizing the Mayor to enter into a tax abatement with Mid -State Plastics. (Reinvestment Zone No. 13) STAFF RESOURCE PERSON: Joe Vining STAFF RECOMMENDATION: Approval Mid -State Plastics does injection molding of medical components, housewares, and computer parts. This company has been located at its current facility since 1990. The purpose of this reinvestment zone and tax abatement is to facilitate the expansion of the Mid State Plastics manufacturing plant. This expansion will include a 24,000 sq.ft. extension of the building and ten additional presses. These improvements are estimated at $1.3 million. Construction is scheduled to begin immediately and should be completed by May, 1996. The owner agrees that it will retain 56 employees and add an additional 80 by the end of 1996. This is a three tax abatement effective in 1996. The investment for the new facility and personal property will have a value of not less than $1,260,000. ECONOMIC IMPACT: Contracted Value of Year Abatement % Expenditures Abatement* 1996 90% $1,260,000 5,545.00 1997 60% $1,260,000 3,697.00 1998 30% $1,260,000 1.848.00 11,090.00 DATE: December 12,1995 SUBJECT: City Council Meeting, December 14, 1995 ITEM: 13.B. Consider a resolution authorizing the Mayor to enter into a tax abatement with Mid -State Plastics. (Reinvestment Zone No. 13) STAFF RESOURCE PERSON: Joe Vining STAFF RECOMMENDATION: Approval Mid -State Plastics does injection molding of medical components, housewares, and computer parts. This company has been located at its current facility since 1990. The purpose of this reinvestment zone and tax abatement is to facilitate the expansion of the Mid State Plastics manufacturing plant. This expansion will include a 24,000 sq.ft. extension of the building and ten additional presses. These improvements are estimated at $1.3 million. Construction is scheduled to begin immediately and should be completed by May, 1996. The owner agrees that it will retain 56 employees and add an additional 80 by the end of 1996. This is a three tax abatement effective in 1996. The investment for the new facility and personal property will have a value of not less than $1,260,000. ECONOMIC IMPACT: Mayor Charles Culpepper Mayor Pro-tem Ear! Palmer Council Members Robert Stluka Rod Morgan Rick Steuart Martha Chavez Jimmy Joseph City Manager Robert L Bennett. Jo City Attorney Stephan L Sheets December 19,1995 Charles Parker Director of Operations Mid -State Plastics 2820 Oakmont Dr. Round Rock, TX 78664 re: Tax Abatement Agreement Dear Mr. Parker. Sincerely, THE CITY OF ROUND ROCK 221 East Main Street Round Rock, Texas 78664 512- 255 -3612 Pursuant to our conversation this afternoon, I am forwarding two original tax abatement agreements for your signature. This agreement abates city ad valorem taxes over a three year period starting 1996. Please return the documents to me and I will obtain the Mayor's signature. A fully executed original will be sent to you. I will notify Williamson County of this abatement as soon as all the documents have been signed. If you have any questions, please call me. Mona Ryan, PI Technician Planning and Community Development City of Round Rock, Texas End: two original tax abatement agreements Fax 512-255-6676 1-800-735-2989 (TDD) 1-800-735-2988 (Voice) WHEREAS, in accordance with Chapter 312, Tax Code, V.A.T.S., as amended, and as authorized by 'Resolution No. R- 95- 12- 14 -13B, dated December 14, 1995, the City entered into a tax abatement agreement with Mid -State Plastics, regarding property in Reinvestment Zone No. Thirteen; and WHEREAS, the City and Mid -State Plastics, intended for the agreement to include the abatement of personal - property taxes; and WHEREAS, the parties desire to amend the agreement to include language evidencing their intentions; 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 Mid -State Plastics. RESOLVED this 14th day of A gust, 1997. ATTEST: ,KO) &A/,a& LAND, City Secretary R: \YPOCGS AMOUR! \B570B11N.11PO /tM RESOLUTION NO. R- 97- 08- 14 -13N HARLES CUI4PL1 'PER, MAYOR CITY OF ROUND ROCK, TEXAS THE STATE OF TEXAS COUNTY OF WILLIAMSON AMENDMENT NO.1 TO TAX ABATEMENT AGREEMENT WITH MID -STATE PLASTICS This Amendment No. 1 is entered into this the 4 day of �GC 1997 to amend that certain agreement authorized by City of Round Rock ResolutiR -95 -12 -14-13B on December 14, 1995 to abate certain property taxes of Mid -State Plastics for the Tax Years 1996 - 1998, 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, a portion of ad valorem real property taxes and personal property taxes assessed against the Premises otherwise owed to the City shall be abated. City hereby acknowledges it is 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 I:\TCAT\ CITY \ BOVNDPaC \TAAABATCW0.4f1.MSP /taT 90% abatement 60% abatement 30% abatement These abatements shall be for three (3) tax years beginning January 1, 1996. 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 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 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 by written notice to Owner. Such notice shall be in writing and shall be delivered by personal delivery or certified mail to: Charles Parker Director of Operations Mid -State Plastics 2820 Oakmont Drive Round Rock, Texas 78664 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 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 shall be due, owing and paid to the City within sixty (60) days of the expiration of the above mentioned applicable cure period. The City 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 / day of t f (ir4,1 1997. CI OF ROUND ROCK, TEXAS CHARLES LPEPPER, MAYOR 2. ATTEST: MID -STATE PLASTICS, A DIVISION OF ANCHOR DVANCED PRO 'UCTS,INC. 3. J. Brant Fulgham DATE: August 12,1997 SUBJECT: City Council Meeting, August 14,1997 Item: 13.N. Consider resolution authorizing the Mayor to execute Amendment No. 1 to the Tax Abatement Agreement with Mid -State Plastics. Staff Resource Person: Joe Vining Staff Recommendation: Approval The attached Amendment No. 1 with Mid -State Plastics clarifies for the Williamson County Appraisal District our intention to include personal property in this agreement.