HomeMy WebLinkAboutRES 95-052 e I 4
RESOLUTION NO. S-.�
WHEREAS, the City has negotiated Industrial District Contracts for Goodyear Tire
& Rubber Company for the period 1995 through 2001; and,
WHEREAS, this contract provides for payments to the City of Beaumont each year
in lieu of annexation and in lieu of the payment of ad valorem taxes which would be
required if such annexation were to take place; and,
WHEREAS, the City Manager should be authorized to execute the contract with
Goodyear Tire & Rubber Company containing terms as follows:
7 Year term, openers in the 5th year
1st payment $625,000
2-7 payments vary with the tax rate (with a floor of $625,000)
Payments on or before April 1st
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the City Manager be and he is hereby authorized to execute this Industrial District
Contract with Goodyear Tire & Rubber Company. Said Contract contains the terms and
conditions for Goodyear Tire & Rubber Company outlined herein.
PASSED BY THE CITY COUNCIL of the City of Beaumont on this the
day of , 1995.
W.
- Mayor -