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13-040 RESOLUTION NO. 13 -040 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS, SUPPORTING CONSTITUTIONAL AMENDMENT PROPOSITION 3, AUTHORIZING A POLITICAL SUBDIVISION TO EXTEND NUMBER OF DAYS THAT AIRCRAFT PARTS ARE EXEMPT FROM AD VALOREM TAXATION. WHEREAS, the Texas Legislature convened in January 2013; and WHEREAS, during the 83 Regular Session, the legislature approved ten joint resolutions proposing nine particular constitutional amendments; and WHEREAS, proposed constitutional amendment No. 3 would authorize local political subdivisions to extend the length of time that aircraft parts could remain temporarily in this state before being subject to ad valorem taxation; and WHEREAS, under current law, merchandise, wares, and goods (including aircraft parts) may remain in this state temporarily for up to 175 days before being subject to ad valorem taxation; and WHEREAS, the proposed amendment would permit taxing entities to extend the exemption up to 730 days after the date that a person acquired or imported aircraft parts in the state. THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS, THAT: Section 1. The City Council supports the passage of Proposition 3 authorizing a political subdivision to extend number of days that aircraft parts are exempt from ad valorem taxation. Section 2. This resolution is hereby effective upon passage and approval by the City Council. PASSED AND APPROVED THIS THE 15 DAY OF October 2013. CITY OF SOUTHLAKE, TEXAS 41110/4. d` 00 John C. Terrell Mayor ,,, ,,,,,,ol,,,,,,, ,, ATTEST: ,.•�ovT H� q ��,,,, Alicia Richardson, ' IIC {" City Secretary