RE 12-09-97.1
RESOLUTION NO. 120997.1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COPPELL,
TEXAS, APPROVING AN AMENDMENT TO THAT CERTAIN TAX ABATEMENT
AGREEMENT BY AND BETWEEN THE CITY OF COPPELL, TEXAS AND DUPEY
MANAGEMENT CORPORATION DATED DECEMBER 31, 1993; AND
AUTHORIZING ITS EXECUTION BY THE MAYOR; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City Council by Resolution No. 121493.2 approved a Tax Abatement
Agreement by and between the City of Coppell, Texas and Dupey Management Corporation (the
"Tax Abatement Agreement"); and
WHEREAS, the City Council desires to amend the "Tax Abatement Agreement" to
increase the percentage of tax abatement for the remaining term thereof, and
WHEREAS, upon full review and consideration of the "Amendment" attached hereto, all
matters attendant and related thereto, the City Council is of the opinion and finds that the terms
and conditions thereof should be approved, and that the Mayor should be authorized to execute
the "Amendment" on behalf of the City of Coppell, Texas;
NOW THEREFORE, BE IT RESOLVED BY THE~ CITY COUNCIL OF THE
CITY OF COPPELL, TEXAS:
SECTION 1. That the "Amendment" to the "Tax Abatement Agreement" by and
between the City of Coppell, Texas, and Dupey Management Corporation dated December 31,
1993, have been reviewed by the City Council of the City of Coppell, Texas and found to be in
the best interest of the City, be, and the same is hereby approved; and the Mayor is hereby
authorized to execute the "Amendment" on behalf of the City of Coppell, Texas;
SECTION 2. This Resolution and the "Amendment" to the "Tax Abatement Agreement"
are hereby approved by the affirmative vote of the majority of the members of the City Council of
the City of Coppell, Texas at a regular scheduled meeting of the City Council.
1 SS13637
9725 1 0302co
SECTION 3. This Resolution shall become effective immediately fi.om and at~er its
passage, as the law and charter in such cases provide.
DULY PASSED and approved by the City Council of the City of Coppell, Texas, on this
the ~7~? dayof
CA_,~'~' SITIEI~, M~Y(~-"R
ATTEST:
KATHLEEN ROACH, CITY SECRETARY
APPROVED AS TO FORM:
PETER G. SMITH, CITY ATTORNEY
(PGS/ttl 11/4/97)
2 ss13637
97251 03027
STATE OF TEXAS §
§ AMENDMENT TO TAX ABATEMENT AGREEMENT
§ BY AND BETWEEN THE, CITY OF COPPELL, TEXAS
§ AND MJDESIGNS, INC. (FORMERLY KNOWN AS
§ DUPEY MANAGEMENT CORPORATION)
COUNTY OF DAI,I,AS §
This Agreement is made by and between the City of Coppell, Texas (the "City"), acting herein
by and through its Mayor, and MJDesigns, Inc., a Texas corporation, formerly known as Dupey
Management Corporation ("Dupey"), acting by and through its authorized officer for the purposes and
considerations stated below;
WITNESSETtI:
WHEREAS, on December 14, 1993, the City Council of the City of Coppell, Texas (the
"City Council") passed Resolution No. 121493.2, approving a Tax Abatement Agreement by and
between the City of Coppell, Texas and Dupey Management Corporation which was executed in
duplicate originals and dated December 31, 1993 (the "Tax Abatement Agreement"); and
WHEREAS, the City Council desires to amend the "Tax Abatement Agreement" to
increase the percentage of available tax abatement for the remaining term thereof, and
WHEREAS, Section 312.208 of the Texas Property Tax Code authorizes the mod'fi]cation of
a tax abatement agreement; and
WHEREAS, upon full review and consideration, the City Council finds that the recitals set
forth in the "Tax Abatement Agreemenf' continues to be true in all respects and incorporates the
same herein; and
WHEREAS, the City Council finds that the "Amendment" to the "Tax Abatement
Agreement" set forth herein is in the best interest of the City;
NOW, THEREFORE, in consideration of the mutual benefits and promises contained herein
and for good and other valuable consideration, the receipt and sufficiency of which are hereby
acknowledged~ the parties agree as follows:
1. Paragraph 6 of the "Tax Abatement Agreemenf' is amended to read in its entirety as
follows:
"6. Subject to the terms and conditions &this Agreement, the City hereby grants
Dupey an abatement of ad valorem taxation as follows:
Amendment Tax Abatement Agreement - Page 1 S813639
97251
For each year of the Agreement that Dupey's Total Assessed Tax Value
exceeds the Current Year Tax Value by 5.5 million dollars, the tax abatement
shall be seventy-five percent (75%) of such excess value.
2. The amendment to Paragraph 6 of the Tax Abatement Agreement provided herein shall
take effect beginning on January 1, 1998.
3. As amended herein, all terms and conditions of the "Tax Abatement Agreement"
shall remain in full force and effect.
4. In the event any section, subsection, paragraph, sentence, phrase or word herein is held
invalid, illegal or unconstitutional, the balance of this Agreement shall be enforceable and shall be
enforced as if the parties intended at all times to delete said invalid section, subsection, paragraph,
sentence, phrase or word.
5. All notices required by this Agreement or by the original Tax Abatement Agreement
shall be addressed to the following, or other such other party or address as either party designates in
writing, by certified mail, postage prepaid or by hand delivery:
Il'intended for Dupey, to:
MJDesigns, Inc.
Attn: Michael E. Nuzum
500 Airline Drive
Coppell, Texas 75019
If intended for City, to:
City of Coppell, Texas
City Manager
P. O. Box 478
Coppell, Texas 75019
6. This Agreement shall be construed under the laws of the State of Texas. Venue for
any action under this Agreement shall be the State District Court of Dallas County, Texas.
Amendment Tax Abatement Agreement - Page 2 ss13639
97251 03029
EXECUTED in duplicate originals this the 77~ day of ~eCe~/a~-1997.
MJDESIGNS, INC. (formerly known as
CITY OF COPPELL, TEXAS ~ DUPEY MANAGEMENT CORPORATION )
BY:cANDY S~, MAYOR - MICHAEL E. ~RESIDENT
ATTEST: ATTEST:
KATIqI.F. FN ROACH, CITY SECRETARY SECRETARY
APPROVED AS TO FORM:
~ G. sMrrlt,/ CITY ATTORNEY
(PGS/tI1 11/17/97)
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97251 03030
CITY'S ACKNOWLEDGMENT
STA'I'E OF TEXAS §
COUNTY OF DAI,I,AS §
This instrument was acknowledged before me on this ~ r- ,1997
by Candy Sheehan as Mayor of the City of Coppell, Texas.
Notary Public, State of Texas
My Commission Expires: ,~,~,,,,,,,,
%,o.z. e0~,,,,,,'
STATE OF TEXAS
COUNTY OF DAI,I,AS §
~, ~ was acknowledged before me on ~ ~V o~
Michael E. Nuzum, President ofiJ~)upcy Manage~nent Corporation, a Texas corporation, on behalf of
sa~dcorpora~on. ~.~JDes±c3n$, Inc., ~ Texas eo~porat±on
known as ~
No~ Pub~,~ Sta~e of Texas
My Commission Expires:
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97251 0303~