Tax Exemption Howards 2017.docx

ORDER APPROVING APPLICATION OF HOWARD INDUSTRIES, INC. FOR AN INITIAL TAX EXEMPTION FOR A PERIOD OF TEN YEARS AS AUTHORIZED BY SECTION 27-31 -101 , ET SEQ. , MISSISSIPPI CODE OF 1972 AS AMENDED There came on for hearing this day before the Mayor and Council of the City of Laurel , Jones County , Mississippi , the sworn application of Howard Industries, Inc., for an initial exemption from ad valorem taxation , except state ad va l orem taxation and ad valorem taxes for school district purposes, of all of its tangible property used in connection with and necessary to the operation of said Howard Industries, Inc . , industrial plant in the City of Laurel, Second Judicial Distric t , Jones Count y , Mississippi , under provisions of Section 27-3 1 -10 1 , et se q . , Mississippi Code of 1972 Annotated , as amended and other pertinent statutes; the Mayor and Council having considered same and being fully advised in the premises finds as follows: I. That Howard Industries, Inc. , is a corporation duly created and existing under the law s of the State of Mississippi and is presently doing busines s in Laure l , Jone s County , Mississippi. I I . That Howard Industries , Inc. is now operatin g a s a manufacturing industry within Laurel , Jones County , Mis s issippi , which factory is a bona fide expanded enterprise of public utility within the meaning of Section 27-31-101 et se q . , and related sections of the Mississip p i Code of 197 2 , a s amended , and is e li gible for the initial exemption granted by the above mentioned section b y specific enumeratio n , namely " manufactu r i n g , processors and refineries " . III. That Howard Ind u s trie s , In c . , commenced its operation pursuant to a contract made and entered into on the 19th day of January 196 8 , amended on the 15th day of August, 1 9 68 , amended on the 29th day of August , 1 972, and amended on the 21st day of August, 1978, by and between the City of Laurel, Mississippi , Jones County , Mis s is sippi, the Laurel Airport Board, Laurel Industrial Committee of 100 and Howard Industries, Inc. , and pursuant to Certificate of Public Convenience and Necess ity No. 663 i ssue d by the Missi ss ippi Board of Economic Development of the State of Mississippi, and that by and under the terms and provisions of s aid contract , the Mayor and Board of Commissioners of the City of Laurel , Mis s issippi , and Jones Coun ty , Mississippi, agreed , as an added inducement and part of the consideration for the petitioner 's co ve nant s therein , upon petiti o n by this "Company for exemption from ad valorem and other taxe s upon any property owned b y C ompan y, that City and B o ard , and each of them , will grant to Company s uch tax exempti o n s to the full extent and for the maximum period now authorized by l aw and approved by the Agricultural and Ind u s trial Board. IV. That the petitioner has added additional equipment which was completed during 2014, within the meaning of th e applicable s tatutes of the State of Mi ss i ss ippi , and that the granting to Howard Industries, Inc. , of such initial exemption from ad valorem taxation for ten (10) years , except state ad valorem taxation and ad valorem taxes for sc hool di stric t purposes and “mandated levies” is authorized by Section 2 7 -31-101 through 2 7 - 31 - 11 7 , of the M i s s issippi Code of 1 9 7 2 , as last amended. V. That Howard Indu s tries , Inc . , i s a manufacturing concern manufacturing e lectrical transformers . That all of the tangible property will be u sed for said manufacturing purposes and that attache d hereto as Ex hibit "A " and b y reference incorporated h er ein i s a de scr iption of sai d tangible propert y owned by Howard Industries, Inc. , with a s tatement of the true values thereof in the amount of $4,100,285.00 . VI. That Howard Indu s tries , Inc . further requ es ts an initial exe mption on raw mate r ials and work in progress pursuant to Section 27 - 3 1-101 e t seq. and on fin i shed goods pursuant to Section 27-31-7 in s uch amounts as shall be reported o n the personal property assessment form filed annually b y the petitioner. Fo r cal e ndar year 201 6 , raw materi als and wor k in progress had a true value $59,571,737 .00 , finished go o ds had a true value of $30,354,771.00 , all i s s hown on the attac h ed Exh i bit " A" . IT I S , T HEREFOR E , ORDERE D , s ubject to the a ppr o val of the State Tax C o mm i s s i o n , that the application of Howard Industries, Inc. , for an init ial exemption fro m ad v alorem taxation , except state ad valorem taxation and ad va lorem taxes fo r schoo l di strict purposes, b e and i t is hereby grante d , and that all th e propert y described in said application , and exhibited thereto , in t he amount of $4,100,285.00 a n d all r aw ma t e ria l s and work in progress and fin i shed go o d s in such amounts as s hall b e report ed in the per so nal property assessment form fi l ed annually by Howard Industries , Inc., which for calendar year 201 6 , raw mat er ial s and wo rk in progress had a true value of $ 59,571,737 .00 , finished goods had a true v a l u e of $30,354,771.00 , be and it is here b y initially exemp t e d from all ad valorem taxation except sta t e ad valorem taxation , ad va lorem taxation for school di s trict purpo ses and “mandated levies” , for te n (10) years , co mm e n c in g January 1 , 2 0 1 7 and concludin g December 31 , 202 7 . IT IS FURTHE R ORDERED, that th e Clerk s h a ll tran s mit a certifie d copy of this Order , in triplicate , to the State Tax C o mm i s s i o n , t h e re b y s i g nifyi n g t h e d e s i r e of the Mayor and C i ty Coun c il of the City of L aure l , Jones County , Mississippi, that sa id Board shall approve it s a c t ion as herein set forth. A Motion was made by Councilperson Wheat , seconded by Councilperson Comegys that the above O rder be adopted. Upon roll call vote, the results were as follows: Yeas: Wheat, Thaxton, Comegys, Wash Nays: None Abstaining: None Absent: L. Jones, Carmichael, M. Jones The President thereupon declared the motion carried and the Order adopted, this the 6th day of June A.D., 201 7 . __________________________ ______ ___ PRESIDENT OF THE COUNCIL ATTESTED AND SUBMITTED TO THE MAYOR BY THE CLERK OF THE COUNCIL ON __________. ________________________________ CLERK OF THE COUNCIL APPROVED ( ) DATE: ___ __ ________ VETOED ( ) DATE: _____________ _________________________ MAYOR ATTEST: CITY CLERK * * **** **** MIN. of: 06 /06/17 ; Bk. No: 100; Pg. No: ________; A gn . Item No: 4N STATE OF MISSISSIPPI COUNTY OF JONES I, , City Cle r k, C i ty of Laurel, Jones County, Mississippi, do hereby certify that the forego i ng i s a true and correct copy of an order duly adopted by the Mayor and Council of the City of Laurel , Jones County, Mississippi , at a meet i ng of said Council held in Laurel, Mississippi, on this the _ ___ _ day of 201 6 . Given under my hand and official seal on this the day of _, 201 6 . (SEAL) City Clerk