Resolution 04-2023 Confirmatory Resolution of the Town Council of the Town of Mooresville, Indiana, Regarding Certain Personal Property Tax Abatement Deductions (Old Dominion)

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(3) The other benefits about which information has been presented to this Council are benefits that can be reasonably expected to result from the construction of the Project. (4) The totality of benefits is sufficient to justify the granting of real property tax abatement to the Applicant through the deduction provided by the Act. SECTION III. The Form SB -1 has been submitted by the Applicant and reviewed and approved by Council. SECTION IV. Personal property tax deductions for the Project are hereby approved. The period for the personal property tax deduction under the Act for the Project shall be ten (10) years. The effectiveness of the designation may be terminated by this Council in the accordance with the Act. SECTION V. Under the authority of the Act, the Council or its designee may survey and evaluate the Project for compliance with investment figures contained within this Resolution. The Council may reduce the amount of the authorized deduction or rescind the deduction in its entirety, and/or require repayment of all or a portion of the deduction received by the Applicant for failure to achieve the benefits identified in this Resolution, or for failure to respond to the mandatory survey. SECTION VI. Pursuant to the Act, the Council shall cause to be filed a certified copy of this Resolution with the Morgan County Auditor. SECTION VII. This Resolution shall be in full force and effect immediately upon its adoption. [The remainder of this page is intentionally blank] 3