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RE 12-14-93.2 A RESOLUTION OF THE CITY OF COPPELL, TEXAS RESOLUTION NO. 121493.2 A RESOLUTION OF THE CITY OF COPPELL, TEXAS, APPROVING THE TERMS AND CONDITIONS OF A TAX ABATEMENT AGREEMENT BY AND BETWEEN THE CITY OF COPPELL, TEXAS, AND DUPEY MANAGEMENT CORPORATION, INC., D/B/A MJ DESIGNS; AUTHORIZING ITS EXECUTION BY THE MAYOR; AND PROVIDING AN EFFECITVE DATE. WHEREAS, the City Council has been presented a proposed Tax Abatement Agreement by and between the City of Coppell, Texas and Dupey Management Corporation, Inc., d/b/a MJ Designs; a copy of which is attached hereto as Exhibit "A" and incorporated herein by reference; and WHEREAS, upon full review and consideration of the Agreement, and 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 Agreement on behalf of the City of Coppell, Texas; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COPPELL, TEXAS, THAT: 1. The Tax Abatemem Agreement, Exhibit "A", having been reviewed by the City Council of the City of Coppell, Texas and found to be acceptable and in the best interest of the City and its citizens, be, and the same is hereby, in all things approved, and the Mayor is hereby authorized to execute the Agreement on behalf of the City of Coppell, Texas; 2. The City Council finds that the improvements proposed to be built upon the Premises described in the Agreement will enhance the economic vitality of the cornmnnity through a combination of new capital investment, increased sales tax revenues, and the creation of additional job (~pportunities; 3. The tax abatement to be granted by the Agreement will not include inventories, supplies, personal property and furnishings of the Premises; 4. The improvements proposed for the Premises will accomplish the tax abatement guidelines of the City of Coppell, Texas; 5. The City Manager delivered, or will cause to be delivered, to the presiding officer of the governing body of each taxing unit in which the property subject to the Tax Abatement Agreement is located a written notice that the City of Coppell, Texas intends to enter into the Agreement. The notice given by the City Manager included a copy of the Tax Abatement Agreement approved by this Resolution. 6. This Resolution and 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 regularly scheduled meeting of the City Council. 7. This Resolution shall become effective immediately from and after its passage. DULY PASSED AND APPROVED by the City Council of the City of Coppell, Texas, on the /~/~r' ~day of [~.¢L~i~.~-~L~ , 1993. APPROVED: ATrEST: CITY SECRE~TARY APPROVED AS TO FORM: agg04F~3