Title
A RESOLUTION AUTHORIZING CERTAIN AMENDMENTS TO THE TAX ABATEMENT AGREEMENT DATED JULY 5, 2016, AS AMENDED, BY THE CITY OF FOLEY, ALABAMA AND FOLEY HOLDINGS LLC
Body
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FOLEY, ALABAMA:
ARTICLE 1
Definitions
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For purposes hereof:
2022 Amendments means collectively:
(i) the General Amendment to Tax Abatement Agreement, to be dated the date of delivery, by the City and the Company, in amendment of the Original Abatement Agreement; and
(ii) the Amendment to Tax Abatement Agreement (Section II), to be dated the date of delivery, by the City and IRH Foley LLC, in amendment of the Original Abatement Agreement.
Agreement means the Original Abatement Agreement as amended by the 2022 Amendments.
Bond Counsel means Maynard, Cooper & Gale, PC.
City means the City of Foley, Alabama.
Company means collectively the following persons signatory to the Original Abatement Agreement:
(i) Foley Holdings LLC;
(ii) Foley Hotel One LLC;
(iii) Park at OWA LLC;
(iv) Shops at OWA LLC;
(v) RV Park at OWA LLC.
Council means the governing body of the City.
Enabling Law means Chapter 9B of Title 40 of the Code of Alabama 1975.
Original Abatement Agreement means the Tax Abatement Agreement dated July 5, 2016 by the City and Foley Holdings LLC, as amended by:
(i) Amendment of Tax Abatement Agreement dated August 12, 2016, by the City, Foley Holdings LLC and Foley Hotel One LLC; and
(ii) Amendment of Tax Abatement Agreement dated April 17, 2017, by the City, Foley Holdings LLC, Park at OWA LLC, and Shops at OWA LLC; and
(iii) Amendment of Tax Abatement Agreement dated August ___, 2019, by the City, Foley Holdings LLC and RV Park at OWA LLC.
ARTICLE 2
Representations
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