HomeMy WebLinkAbout1994-R-07PURPOSES OF PROPERTY T~X ABATEMENT
WHEREAS, Industrial Water Recycling Co., Inc., a
corporation, has petitioned the City Council of the City of
Jeffersonville, Indiana, for a deduction in personal property
taxes to be assessed on machinery and equipment to be installed
at the new manufacturing project site located in the City of
Jeffersonville, Clark County, Indiana; and
WHEREAS, Industrial Water Recycling Co., Inc., has submitted
a Statement of Benefits on the form prescribed by the Indiana
State Board of Tax Commissioners for such purpose, which
statement includes a description of the proposed total costs, an
estimate of the number of individuals who will be employed as a
result of the redevelopment, an e~imate of the annual salaries
of these individuals, and an estimate of the cost and value of
%he machinery and equipment; and
WHEREAS, the City Council of the City of Jeffersonville has
previously determined that the area in which the proposed project
~s located in the City of Jeffersonville qualifies as an economic
revitalization area pursuant to Indiana Code 6-1.1-12.1 et seq.,
and Resolution ~ -R- ~ ; and
WHEREAS, the City Council has reviewed the Statement of
Benefits submitted herein, and attaches and incorporates that
Statement to this Resolution.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Jeffersonville that it specifically and affirmatively
finds as follows:
1. That the estimate of the value of the machinery and
equipment is reasonable for projects of the nature described
in the Statement of Benefits submitted by the taxpayer.
2. That the estimate of the number of individuals who will be
employed or whose employment will be retained can reasonably
be expected to result from the proposed described new
manufacturing facility.
3. That the estimate of the annual salaries of those
individuals who will be employed or whose employment will be
retained can be reasonably expected to result from the
proposed described facility.
4. That all other information requested from Industrial Water
Recycling Co., Inc., has been submitted, and the benefits
described in such information can be reasonably expected to
result from the proposed facility.
5. That the totality of benefits for said facility is
sufficient to justify the deduction.
BE IT FURTHER RESOLVED that the City Council of the City of
Jeffersonville hereby approves the application for deduction
presented by the Statement of Benefits filed by. Industrial Water
Recycling Co., Inc., and that said taxpayer shall be entitled to
deductions for a period of ten (10) years for machinery and
equipment installed, pursuant to the provisions of I.C. 6-1.1-12-
3(d) and I.C. 6-1.1-12.1-4(d)(3), with the timely filing and
perfection thereof with the Clark County Auditor's office.
Passed and adopted this 7~ day of
199 ~ , by the City Council of the City of Jeffersonville,
County, Indiana.
Clark
President, City Council
ATTEST:
Cle~-Treas~r~
Presented by me as Clerk and Treasurer to the Mayor of said City of
3effersonville this 25th day of April, 1994.
C. RIC]gARD SPENCER JR.,
CLERK AND TREASURER
Approved and signed by me this 25th day of April, 1994.
120993:I:6586:SilI~S-3EFF RAYMOND-JJ PKRKER JR? ~
~UST~ ~OL~ON 2 MA Y O R