Title
A RESOLUTION AUTHORIZING AN AMENDMENT TO TAX ABATEMENT AGREEMENT BY THE CITY OF FOLEY, ALABAMA AND FOLEY HOLDINGS LLC DATED JULY 5, 2016, PURSUANT TO CHAPTER 9B OF TITLE 40 OF THE CODE OF ALABAMA 1975
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BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FOLEY, ALABAMA (THE "COUNCIL"), AS THE GOVERNING BODY OF THE CITY OF FOLEY, ALABAMA ("CITY"), as follows:
ARTICLE 1
Definitions and Representations
Definitions of Capitalized Terms
As used herein the following terms shall have the following meanings:
Agreement shall mean that certain Tax Abatement Agreement dated July 5, 2016, together with all Attachments and Exhibits thereto, as amended, by the City and the Company, as at any time amended, restated or supplemented.
Amendment shall mean that certain Amendment of Tax Abatement Agreement to be dated the date of delivery by the City, the Company and RV Park at OWA, in amendment of the Agreement.
Application shall mean the application for the abatement of certain taxes by RV Park at OWA LLC pursuant to Section 40-9B-6(a) of the Enabling Law.
Bond Counsel shall mean Maynard, Cooper & Gale, PC.
City shall mean the City of Foley, Alabama.
Company shall mean Foley Holdings LLC and its successors and assigns.
Enabling Law shall mean Chapter 9B of Title 40 of the Code of Alabama 1975.
RV Park at OWA shall mean RV Park at OWA LLC, an Alabama limited liability company.
ARTICLE 2
Authorization of Execution, Delivery and
Performance of Amendment
(a) The City does hereby approve, adopt, authorize, direct, ratify and confirm the terms and provisions of, the representations and warranties of the City set forth in, the obligations and transactions to be undertaken by the City pursuant to, the abatement of City taxes as provided in, and the execution and delivery by the City of, the Amendment.
(b) (1) The Mayor of the City is hereby authorized and directed to execute, deliver and effect the performance of, the Transaction Documents for and on behalf of and in the n...
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