Res 1989-014 - Laserfiche WebLink

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(a) Findings. Based upon the representations made by Unit, Department hereby reaffirms previous findings that the zone area meets the criteria for designation as an enterprise zone as set forth in the Act. (b) Designation of Enterprise Zone. Department hereby designates the area described in Exhibit A and Exhibit B attached hereto as an enterprise zone, known as The San Marcos Enterprise Zone, sometimes referred to herein as the Zone. (c) Period of Zone Designation. The Zone shall take effect on September 14, 1989, and terminate on September 1, 1997, unless otherwise specifically provided by the terms of this Agreement. Department may remove the designation, following a public hearing, if the area no longer meets the criteria for designation as set out in the Act or by Department rule or if Department determines that the governing body has not complied with commitments made in the nominating resolution. (d) Zone Liaison. Unit has designated its City Manager as liaison to communicate and negotiate with Department, enterprise projects, Qualified Businesses, and other entities in or affected by the Zone. (e) Data Submitted. Unit further represents that the data provided to Department is accurate and current as of the date of application; and that there has been no material adverse change in the affairs of Unit. 2. PERFORMANCE. Unit represents and warrants that it will provide all tax relief and other incentives or benefits described in its application for zone designation including, but not limited to the following: Unit shall refund to any qualified business located in such enterprise zone the amount of tax paid under the Municipal Sales and Use Tax Act. V.T.C.A. TAX CODE Ch. 321, by the business and remitted to the Comptroller of Public Accounts to the extent authorized by Section 321.508 of the TAX CODE for a period of five years from the date the Texas Department of Commerce certifies the entity as a qualified business under the Act. 3. REPORTING REQUIREMENTS. Unit shall submit to Department no later than October 1 of each year an annual report of the progress, in narrative form, of activities within the Zone. This report shall be in a format prescribed by Department and shall include the information specified in Section 23 of the Act. If such report is not received by the deadline, Department may, following a public hearing, consider termination of the designation of the zone. 4. MONITORING. (a) Unit shall furnish additional information, reports or statements as Department may from time to time request in connection with this Agreement. In order to verify data relating to employment and purchases of equipment, machinery or building materials sold to an enterprise project, Unit and Qualified Businesses must permit on reasonable notice a representative of Department, State Auditor or State Comptroller's Office to inspect the books, records, and properties of Unit and of each Qualified Business at reasonable times and to make copies and abstracts of such books and records and any documents relating to such data. Unit shall include the substance of this section in all agreements with Qualified Businesses executed under the provisions of the Act. Page 2 of 5