2013-024 APPROVING AND AUTHORIZING A TAX ABATEMENT AGREEMENT WITH POTTERS INDUSTRIES, LLC

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required to observe any facility rule and regulation applicable to the PROPERTY, including applicable safety and security rules. Nothing herein shall be construed as limiting the CITY'S ability to perform inspections or to enter the PROPERTY which is the subject of this AGREEMENT. XI. Initial and Annual Reporting 11.1 The OWNER further agrees that it will, within thirty (30) days of completion of the IMPROVEMENTS, provide the CITY with a sworn report, written on OWNER'S letterhead and signed by a designated representative of OWNER, which contains the following information: (a) A copy of the printout from the Lamar County Appraisal District showing the market value of the PROPERTY prior to the construction of the IMPROVEMENTS; (b) Detailed description of the IMPROVEMENTS; (c) A detailed description of any miscellaneous items of office equipment and the actual cost of such added office equipment; (d) A copy of or identification of plans and specifications of constructed improvements and the location of the same for inspection by CITY'S certification team; (e) A detailed list of and the actual cost of added machinery and equipment; (f) The actual cost of capital IMPROVEMENTS; and, (g) The date of substantial completion of the IMPROVEMENTS as defined in Section 3.1 hereof. 11.2 The OWNER further agrees that it will provide CITY with an annual, sworn report which shall certify, in writing, that it is in compliance with each applicable term of this AGREEMENT. Such annual report shall be furnished on the forms provided by the City. 11.3 In addition to the annual report required under Section 11.2 hereof, the OWNER further agrees that it will provide CITY a copy of its Texas Workforce Commission Employer's Quarterly Report within thirty (30) days of its filing of the same with the Texas Workforce Commission. XII. Authority to Contract 12.1. This AGREEMENT was authorized by resolution of the City Council at its regularly scheduled meeting on the 24th day of June, 2013, authorizing the Mayor to execute 6