12-1375 Referendum - Ad Valorem Tax Exemptions

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SECTION 1. FINDINGS. The above "Whereas" clauses are hereby adopted by the City Commission of the City of Casselberry, Florida as the legislative findings for adopting this Ordinance. SECTION 2. REFERENDUM ELECTION. The City Commission of the City of Casselberry, pursuant to Article VII, Section 3 of the Florida Constitution and Section 196.1995, Florida Statues, hereby calls a referendum election to be held on November 6, 2012 to submit a question to the electors of the City of Casselberry to determine whether the City Commission may grant economic development ad valorem tax exemptions to qualifying new businesses and expansions of existing businesses in the City of Casselberry. SECTION 3. PURPOSE OF QUESTION. It is proposed that the City Commission of the City of Casselberry, Florida, be authorized to grant economic development ad valorem tax exemptions pursuant to Article VII, Section 3 of the Florida Constitution and Section 196.1995, Florida Statutes. Pursuant to the provisions of Section 196.1995, Florida Statutes, upon a majority vote in favor of such authority, the City Commission, at its discretion, by Ordinance, may exempt from ad valorem taxation up to one hundred percent (100 %) of the assessed value of all improvements to real property made by or for the use of a new business and of all tangible personal property of such new business, or up to one hundred percent (100 %) of the assessed value of all added improvements to real property made to facilitate the expansion of an existing business and of the net increase in all tangible personal property acquired to facilitate such expansion of an existing business, provided that the improvements to real property are made or the tangible personal property is added or increased on or after the day the ordinance is adopted. Any such exemption shall remain in effect for up to ten (10) years. The exemption applies only to taxes levied by the City of Casselberry and does not apply to taxes levied for the payment of bonds or to taxes authorized by a vote of the electors pursuant to Section 9 or Section 12, Article VII of the State Constitution. SECTION 4. BALLOT TITLE AND QUESTION. The November 6, 2012 referendum ballot title and question shall read as follows: ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION AUTHORITY Shall the City Commission of the City of Casselberry be authorized to grant, pursuant to Section 3, Article VII of the State Constitution, property tax exemptions to new businesses and expansions of existing businesses that are expected to create new, full -time jobs in the City of Casselberry? Yes For authority to grant exemptions. No Against authority to grant exemptions. SECTION 5: DIRECTION TO CITY CLERK. The City Cleric is hereby directed to ensure that all advertising and notice requirements are complied with, and to coordinate all necessary activities to conduct the referendum election on November 6, 2012 in accordance with applicable State law with the Seminole County Supervisor of Elections. Ordinance 12 -1375 Page 2