HomeMy WebLinkAboutRES 01-019 RESOLUTION NO. 0/— O/ 9
WHEREAS, Beaumont Methanol Corporation has an Industrial District agreement
with the City of Beaumont which provides for payments based on an assumed assessed
value; and,
WHEREAS, the actual assessed value of the property as a result of litigation is less
than the assessed value set by the Jefferson County Appraisal District; and,
WHEREAS,the intent of all Industrial District agreements assumes that the City will
receive less in the Industrial District payment than it would receive were the entity within
the city limits of Beaumont.
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT in consideration for the payment of $480,154 by Beaumont Methanol Corporation
to the City of Beaumont on or before February 1, 2001,the City hereby grants an extension
in the payment date as provided in the existing Industrial District agreement for thirty (30)
days during which time the City and Beaumont Methanol Corporation shall negotiate an
amendment to the existing Industrial District agreement which will provide for a payment
of a maximum of an additional $100,000 at a rate of$10,000 per month for each month
remaining in the agreement in which the certified profit and loss statement of Beaumont
Methanol Corporation shows that the company made a profit in any amount.
PASSED BY THE CITY COUNCIL of the City of Beaumont on this the
day of 'F , 2001.
(aL,Dw o
- Mayor-
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