Title
A resolution to abate property taxes and sale taxes for BC Foley, LLC.
Summary
Description of Topic: (who, what, where, when, why and how much)
Body
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Abates the property taxes for BC Foley, LLC for a period of ten years once facilities are in service and excluding education taxes.
SECTION 2: Abates the sale taxes for BC Foley, LLC on materials used for the construction of the facilities and excluding education taxes.
SECTION 3: Tax Abatements are contingent upon the adoption by the State of Alabama Revenue Department.
SECTION 4: This Resolution shall become effective immediately upon its adoption as required by law.