Res 2010-170 - Laserfiche WebLink

Home Browse Search

Section 1.06. For the reasons stated in these Recitals and in consideration of the mutual benefits to and promises of the Parties set forth below, the Parties want to enter into this Agreement and agree to the terms and conditions set forth in this Agreement. ARTICLE II DEFINITIONS Section 2.01. "Business" means the business activities of PrimeForm conducted in the City of San Marcos, Texas on the Land (as defined below) and as more fully described in Exhibit "A ", attached hereto and made a part hereof for all purposes. Section 2.02. "Grant Payments" means: (a) the City's payment of an amount equal to 100 percent of Sales Taxes and Personal Property Taxes (as defined below) generated by the Business on the Land in the year 2012; and (b) the City's payments to PrimeForm once per year for a period of four years of an amount equal to 75 percent of the Sales Taxes generated by the Business on the Land in the years 2013 through 2016. Section 2.03. "Job" means a permanent, full -time employment position resulting from the Project, and meeting the criteria and in accordance with the schedule set forth in Exhibit `B ", attached hereto and made a part hereof for all purposes. Any position not meeting the criteria in Exhibit "B" does not qualify as a "Job" for purposes of this Agreement. Section 2.04. "Land" means the real property within the city limits of the City of San Marcos, Texas upon which the Project shall be executed, a map, plat or survey of which is attached as Exhibit "C" and made apart hereof for all purposes. Section 2.05. "Personal Property" means all, materials, supplies, equipment or other personal property attributable to the Business on the Land subject to ad valorem taxes.