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RE 2007-1023.4 RESOLUTION NO. ZD()1- /OZ.3. -1- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COPPELL, TEXAS, TO PROVIDE FOR THE TAXATION OF GOODS-IN-TRANSIT OTHERWISE EXEMPT UNDER THE TEXAS TAX CODEl AND NOT OTHERWISE EXEMPT UNDER OTHER LAW; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Coppell, Texas has the local option to elect to tax goods-in-transit under the TEXAS PROPERTY TAX CODE, Tangible Personal Property in Transit, Section 11-253; and WHEREAS, the City of Coppell City Council, after hearing held in accordance with state law, is of the opinion and finds that such goods-in-transit should not be exempt from taxation; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of Coppell, Texas, to tax said goods-in-transit. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COPPELL, TEXAS, AS FOLLOWS: SECTION 1. For the purposes of this resolution the following de[mitions shall apply: (a) "Goods-in-transit" shall mean tangible personal property that: (1) is acquired in or imported into this state to be forwarded to another location in this state or outside this state; (2) is detained at a location in this state in which the owner of the property does not have a direct or indirect ownership interest for assembling, storing, manufacturing, processing, or fabricating purposes by the person who acquired or imported the property; (3) is transported to another location in this state or outside this state not later than 175 days after the date the person acquired the property in or imported the property into this state; and (4) does not include oil, natural gas, petroleum products, aircraft, dealer's motor vehicle inventory, dealer's vessel and outboard motor inventory, dealer's heavy equipment inventory, or retail manufactured housing inventory. I Chapter 11, Section 11.253 of the Texas Tax Code 1 (b) "Location" means a physical address. (c) "Petroleum product" means a liquid or gaseous material that is an immediate derivative of the refining of oil or natural gas. SECTION 2. The City of Coppell, Texas, does hereby determine that goods-in-transit, as defined herein, which are not otherwise exempt under state law, will be subject to the personal property tax as imposed under the TEXAS TAX CODE in conformity with House Bill 621 as enacted by the 80th Texas Legislature in its regular session. SECTION 3. That this Resolution shall remain in effect until revoked by the City Council or otherwise provided by state law. SECTION 4. That this Resolution shall take effect immediately from and after its passage as the law and charter in such cases provide. DUL Y PASSED by the City Council of the City of Coppell, Texas, this the 'Z3~ day of (Q~ ,2007. ATTEST: ~~tV/ B Y B , CITY SECRETARY 2