1999-058RESOLUTION NO. 99-58
A RESOLUTION OF THE CITY OF SOUTHLAKE, TEXAS, MODIFYING
THE TERMS AND CONDITIONS OF AGREEMENTS BY AND AMONG THE
CITY OF SOUTHLAKE, TEXAS, MAGUIRE PARTNERS - SOLANA
HOLDINGS, L.P., MAGUIRE PARTNERS WESTLAKE PARTNERSHIP
AND THE SABRE GROUP, INC. ESTABLISHING AND PROVIDING FOR
TAX ABATEMENT; AUTHORIZING ITS EXECUTION BY THE MAYOR;
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, in accordance with Chapter 312 of the Texas Tax Code, the City
Council of the City of Southlake, Texas has approved Resolution No. 99-26 adopting a Tax
Abatement Policy which establishes guidelines and criteria governing tax abatement
agreements, and electing to become eligible to participate in tax abatement; and
WHEREAS, the City Council has been presented with proposed tax abatement
agreements by and among the City of Southlake, Maguire Partners - Solana Holdings, L.P.,
Maguire Partners Westlake Partnership and The SABRE Group, Inc., copies of which are
attached hereto as Exhibits "A" through AH= and incorporated herein by reference
hereinafter called the "Agreements"); and
WHEREAS, upon full review and consideration of the Agreements, and all matters
attendant and related thereto, the City Council is of the opinion that the terms and
conditions thereof should be approved, and that the Mayor should be authorized to execute
the Agreements on behalf of the City of Southlake.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SOUTHLAKE, TEXAS, THAT:
SECTION 1.
The City Council finds that the terms of the Agreements and the property subject to
the Agreements meet the applicable guidelines and criteria governing tax abatement
agreements previously adopted by the Southlake City Council.
SECTION 2.
The City Council finds that the contemplated use of the property subject to the
Agreements and the improvements contemplated thereon in the amount set forth in the
Agreements and the other terms of the Agreements are consistent with encouraging
development of Reinvestment Zone Number 2 in accordance with the purposes for its
creation and are in compliance with the Tax Abatement Policy, Chapter 312 of the Texas
Tax Code, as amended, and all other applicable law.
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e.
SECTION 3.
The terms and conditions of the Agreements, having been reviewed by the City
Council of the City of Southlake and found to be acceptable and in the best interests of the
City and its citizens, are hereby approved.
SECTION 4.
The City Secretary is hereby authorized to deliver (in compliance with Section
312.2041 of the Texas Tax Code) to the presiding officer of the governing body of each
other taxing unit in which the property subject to the Agreements located a written notice
that the City of Southlake, Texas intends to enter the Agreements, which notice shall
include a copies of the Agreements.
SECTION 5.
The Mayor is hereby authorized to execute the Agreements and all other documents
in connection therewith on behalf of the City, substantially according to the terms and
conditions set forth in the Agreements.
SECTION 6.
This Resolution shall become effective from and after its passage.
PASSED AND APPROVED this the _D day of '1999.
ATTEST:
OF S OV
Y
andy LeGrand, City
N'ECONDEWROSPECTMMRE%RES-0RDOO-3 01 DOC
WictacyMayor
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RESOLUTION NO. 99-58
EXHIBITS ARE FILED IN THE TIF #2
SABRE DEVELOPMENT FILE