8882-16ORDINANCE NO. 8882 -16
AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA,
AMENDING ORDINANCE 8524 -13 WHICH APPROVED AN
EXEMPTION FROM CERTAIN AD VALOREM TAXATION FOR
INSTRUMENT TRANSFORMERS, INC.; AMENDING THE EXEMPTION
PERIOD; AMENDING THE SUNSET DATE; PROVIDING FOR
SEVERABILITY AND PROVIDING FOR AN EFFECTIVE DATE.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section 1. That Section 1(b)(3) of Ordinance 8524 -13 is hereby amended to
read as follows:
That an Economic Development Ad Valorem tax exemption shall be
approved for Instrument Transformers, Inc. — Tax year 2016 through Tax
year 2025 as provided herein:
(3)
The Instrument Transformers Ad Valorem Tax Exemption shall be
for a period of ten (10) tax years (the "Exemption Period "),
commencing with Tax Year 2016 through Tax Year 2025. The
Instrument Transformers Ad Valorem Tax Exemption is conditioned
upon the Company entering into an agreement with the City stating
that it shall remain in compliance with Section 29.207 of the Code
throughout the Exemption Period as well as the Business
Maintenance and Continued Performance provision of the
Company Application. Should the Company fail to comply with
Section 29.207 of the Code or the Business Maintenance and
Continued Performance provision of the Company Application, the
Council may revoke the Instrument Transformers Ad Valorem Tax
Exemption and recover any taxes exempted during the Exemption
Period pursuant to Section 29.208 of the Code.
Section 2. That Section 1(d) is hereby amended to read as follows:
(d) Sunset Date.
Ordinance 8882- 16Cel8e289- 0ac l- 48f8- Bd2a- E16c5b35649c.Docx
The Instrument Transformers Ad Valorem Tax Exemption shall be in effect
through Calendar Year 2026, at which time this ordinance shall
automatically sunset and no longer be in force and effect.
Section 3. If any provision of this article or the application thereof to any
person or circumstance is held invalid, the invalidity shall not affect other
provisions or applications of the act which can be given effect without the invalid
provision or applications. To this end, the provisions of this article are declared
severable.
Section 4. The provisions of this Ordinance shall become effective
immediately upon adoption.
PASSED ON FIRST READING
PASSED ON SECOND AND FINAL
READING AND ADOPTED
Countersigned:
--c€ YLt. /1Cre \'1
George N. Cretekos
Mayor
Approved as to form:
Pamela K. Akin
City Attorney
MAR - 3 2016
MAR 1 7 2016
CITY OF CLEARWATER, FLORIDA
By: 10 (,Q,c4,N,c G S ,
William B. Home II
City Manager
Attest:
LO-c4
Rosemarie Call
City Clerk
ID#16 -2164 - 1st reading Ord. 8882 -16 - Amend ED Ad Valorem Tax Exemption - Instrument Transformers Inc.docx2 Ordinance 8882 -16