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14-024 RESOLUTION NO. 14 -024 A RESOLUTION OF THE CITY OF SOUTHLAKE EXTENDING THE NUMBER OF DAYS THAT AIRCRAFT PARTS ARE EXEMPT FROM AD VALOREM TAXATION UNDER SECTION 11.251 OF THE TEXAS TAX CODE; AND PROVIDING A REPEALER CLAUSE; PROVIDING A SEVERABILITY CLAUSE. WHEREAS, the Texas Legislature in the 83 Legislative Session approved House Bill 3121, which was subsequently approved by the eligible voters of the State of Texas to permit taxing entities to extend the number of days that freeport goods that are aircraft parts are exempt from ad valorem taxation; and, WHEREAS, Section 11.251(1) of the Texas Tax Code now provides that municipalities, may in the manner required for official action by the governing body, may extend the tax exemption up to 730 days after the date that a person acquired or imported Freeport goods that are aircraft parts in the state; WHEREAS, in this Resolution "freeport goods" has the meaning set forth in Article VIII, Section 1-j of the Texas Constitution and Section 11.251 of the Texas Tax Code. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS SECTION 1. The findings set forth above are incorporated into the body of this Resolution as if fully set forth herein. SECTION 2. The City Council of Southlake, Texas hereby extends the number of days that freeport goods that are aircraft parts are exempt from ad valorem taxation to 730 days as provided by Texas Tax Code §11.251, and freeport goods that are aircraft parts hereby declared to be exempt for tax year 2014 and for every year thereafter, as provided for and in accordance with Texas Tax Code §11.251. SECTION 3. It is hereby declared to be the intention of the City Council that the phrases, clauses, sentences, paragraphs and sections of this resolution are severable, and if any phrase, clause, sentence, paragraph or section of this resolution shall be declared unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs and sections of this resolution, since the same would have been enacted by the City Council without the incorporation of this resolution of any such unconstitutional phrase, clause, sentence, paragraph or section. SECTION 4. This resolution is hereby effective upon passage and approval by the City Council. PASSED AND APPROVED ON THE 20 DAY OF MAY 2014. 410 46/ 1 4' John Terrell Mayor ATTEST: , %% %%%% �etu %%%%%%%%%% � % % %% SOUTH ''�•. • IR p M ti i-+: Alicia Richardson, TRMC% ' City Secretary . ".... % % % %%