HomeMy WebLinkAboutResolution 2791 Approving tax reduction for Scientific Materials
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COMMISSION RESOLUTION NO.
2791
A RESOLUTION OF THE CITY
COMMISSION OF THE CITY OF
BOZEMAN, MONTANA, APPROVING THE
APPLICATION OF
SCIENTIFIC MATERIALS CORPORATION FOR
TAX REDUCTION
UNDER SECTION 15-24-1401, ET SEQ,
MONTANA CODE AN-
NOTATED, AND CITY OF BOZEMAN
COMMISSION RESOLUTION
NO. 2660.
WHEREAS, on the 29th day of June 1987, fol/owing due and proper pub-
lic hea ring, the City Commission did
adopt Commission Resolution No. 2660,
approved and adopted the tax
incentive program as set fo r t h in
Section
15-24-1402(1), M.C.A., for qualifying improvements and modernized processes
of new industry or expanding industry within the jurisdictional
limits of the
City of Bozeman, Montana; and
WHEREAS, on the 26th day of March 1990, the City Commission did adopt
Commission Resolution No. 2783, setting the public hearing on the application of
Scientific Materials Corporation for tax reduction under Section 15-24-1401 ,
et
seq, M.C.A.; and
WHEREAS, on the 7th day of May 1990, fol/owing due notice, the
City
Commission did conduct the public hearing as set forth in Commission Resolution
No. 2783; and
WHEREAS, no public protest was submitted prior to or during the public
hearing; and
WHEREAS, it appears that applicant's taxes have been paid in full.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City
of Bozeman, Montana, that the application of Scientific Materials Corporation for
tax reduction under Section 15-24-1401, et seq, Montana
Code Annotated and
Commission Resolution No. 2660, be and the same is hereby approved for those
qual ifying improvements or modernized processes
tota 1/ ing $507,747, as de-
scribed in Group Nos. 2 and 3 on Exhibit "A, II attached hereto and incorpor-
ated by this reference as though fully set forth herein.
PASSED AND ADOPTED by the City Commission of the City of Bozeman
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at a regular and stated session thereof held on the 14th day of May 1990.
ROB
ATTEST:
lf~ ~ Ju~
ROBIN L. SULLIVAN
Clerk of the Commission
APPROVED AS TO FORM:
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City Attorney
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~ll 8usiness ~ctivities
Scientific Materials Client: 48992
01/29/90 07:57 all l oc. I 1 - 999 Gr. I
1 - 999 Tax Depreciation Su.~ary 'ag,
1
~ ~h Cl lif, ~~oc~r'~sOtscri9fion ~cauired Cost
Exp /ArD Prior Du. Net 800k Y.
_!2.___ _
Group I 1 - leasehold l~prov,. 1220
1 1 Generai i.prove~ents
7/01/89 9,000 0 131 286 417
8,583
R M 31.5
2 1 hlprovnents
8/01/89 12,899 0 154 409 563
12,336
R " 31. 5
3 1 Electrical hookups
8/01/89 20,404 0 1,457 5,413 6,870
13,534
" " 7.0 10.0
Group Totals
42,303 Oc 1 ,742 6,108 7.850
34,453
Group 1 2 - Manufacturing Eq. 1230
1 1 Equipment setup
8/01/89 11,367 0 812 3,016 3,828
7,539
M " 7.0 10.0
2 1 9 laser Groyth Machines
8/01/89 405,000 0 40,500 145,800 186,300
218,700
U " 5.0 6.0
3 1 lrridiu~ crucibles
3/10/89 45,000 0 0 0 0 45,000
" .. 0.00 0
4 1 Misc. Manufacturing eq.
7/01/89 34,000 0 3,400 12,240 15,640
18,360
U " 5.0 6.0
5 1 Hoist
7/01/89 300 0 21 80 101
199
" " 7.0 10.0
6 1 Yater equip~ent
8/15/89 3,090 0 309 1,112 1,421
1,669
" " 5.0 6.0
7 1 Orill press
12/01/89 195 0 14 52 66
129
" " 7.0 10.0
8 1 Yelder
12/01/89 800 0 57 212
269 531
" " 7.0 10.0
Group Totals
499,752 Oc 45,113 162,512 207,625
292.127
Group I 3 - Office Equip~ent 1240
1 1 Office furniture
7/01/89 2,000 0 143 531 674
1,326
" " 7.0 10.0
2 1 Furniture
7/01/89 1.57L 0 112 417 529 1.042
M " 7.0 10.0
3 1 COlllputer
10/23/89 4,424 0 442 1,593 2,035
2,389
" " 5.0 5.0
Group Totals
7.995 Oc 697 2,541 3,238
4,757
Group I 4 - Organizational Cost 1290
1 1 Organizational Costs
6/01/89 51,588 0 5,159 10,318 15,477
36,111
M ~" 5.00 0
Group Totals
51,588 Oc 5,159 10,318 15,477
36,111
Grand Totals
601,638 Oc 52,7Ll 181,479 234,190
367.448
c - Current Year Section 179
EXHIBIT IIAII