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HomeMy WebLinkAboutResolution 2658 Hearing on tax benefit program for new or expanding business: 6-08-87 --'.~-~~ -~ ~- '~ '10 r: ""- COMMISSION RESOLUTION NO. 2658 A RESOLUTION OF THE BOZEMAN, MONTANA, CITY COMMISSION, CALLING FOR A PUBLIC HEARING ON THE ISSUE OF WHETHER OR NOT THE CITY OF BOZEMAN, MONTANA, SHALL APPROVE OF THE TAX BENEFIT PROGRAM FOR NEW OR EXPANDING INDUSTRIES AS AUTHORIZED BY 15-24-1401 ET SEQ. MONTANA CODE ANNOTATED (MCA) AND TO DEFINE THE IMPROVEMENTS THAT WOULD QUALIFY FOR THE TAX TREATMENT THAT IS TO BE ALLOWED IN THE TAXING JURISDICTION. WHEREAS, the City Commission of Bozeman, Montana, believes that it is in the best interests of the community to attract new industry or expansion of existing industry to the Bozeman area; and WHEREAS, 15-24-1402(1) Montana Code Annotated (MCA) et seq. authorizes local government to give tax benefits to new or ex- panding industry by taxing the property of said industry at 50 percent of its taxable value during the first five (5) years following issuance of a construction permit, and thereafter in- creasing taxes by equal percentages until full taxable value is reached in the tenth (10th) year whereafter property shall be taxed at 100 percent of its value; and WHEREAS, 15-24-1402 MCA requires a public hearing on whether the City of Bozeman should approve of said tax benefits; and WHEREAS, the City is required to define the improvements or modernized processes which will qualify for the tax treatment including real property other than land, personal property, im- provements or any combination thereof; NOW, THEREFORE, BE IT RESOLVED by the Bozeman City Commis- sion that a public hearing will be held on the 29th day of June, 1987, at the hour of 7:00 o'clock p.m. in the City Commission Room located in the basement of City Hall, 411 East Main Street, Bozeman, Montana, to determine whether the Bozeman City Commis- sion should authorize tax benefits to new or expanding industry and if so, to define what improvements or modernized processes should qualify for the tax benefit. __.._n __. _ . ._... . _.. _....._._____._____ .-. -~~-_.._---_..._--_._---_._.- ._._--~.~_._.. --~._- . --. -..--- -~ --~ -:---~- '. , -' ~ - , BE IT FURTHER RESOLVED that the Clerk of the Commission give notice of said hearing pursuant to 76-15-103(5) MCA. PASSED AND ADOPTED this 8th day of June, 1987. ~ A. (YI~ JU ITH A. MATHRE, Mayor ATTEST: GJt: ,I 1Pd,~~ Clerk of the Commission .. . ~ " -2- .-- ----... - ., ,- - .--- --.-,'-=.."-=- ----...:. ';',:, . , j NOTICE OF PUBLIC HEARING The Bozeman City Commission will conduct a public hearing to decide whether or not the Bozeman City Commission shall approve tax benefits for new or expanding industries as set forth in 15-24-1401 MCA et seq. and to define the improvements that would qualify for the tax benefit. The hearing will be held on the 29th day of June, 1987, at the hour of 7:00 o'clock p.m. in the City Commission Room located in the basement of City Hall, 411 East Main Street, Bozeman, Montana. For additional information, contact the Clerk of the City Commission, Robin Sullivan at (406) 586-3321 or by coming in person to 411 East Main Street, Bozeman, Montana. . ~ . I -3- . .-.."...-...-------