5539 - Laserfiche WebLink

Home Browse Search

Section 7. The City..Council. hereby authorizes._ the City Manager to take any and all actions necess.ary_ to .implement_th.e..pro_visions of Section 353.110 R.S. Mo. 1978,_as. ,amended-,_after. . .the " effective_..date.. .of_ this ordinance and upon acquisition of the..aforedescribed_real_._property by Developer, in order to grant to Developer, its succes.sors.or _as.signs..,_..such .tax.relief. as it may be entitled to under said Section. during the. first._.ten._.(10)_ year- period following acquisition by Developer of the aforede.scribed .. area- hereby-approved for redevelopment. This section is subject to Developer agreeing-for.itself, its successors or assigns, in the form of the -Agreement...above_.sat.... for.th,_ to.. the assessment and payment of all ad valorem taxes on said.. - area, based on the full true value of the real property for all years. subsequent. to. the..said initial ten (10) year period. Section 8. Develo.per,.. whose Development Plan is approved by this ordinance and who desires. to_ . obtain - the_ benefits of tax exemption status contained in Section 353.110,__ R.S. Mo.. 1978, as amended, its successors or assigns, is required to file..with the. Director of Finance a financial statement prepared by. a Certified Public .. Ac.co.untant.,__using and following the chart of accounts . and..__accounting anal reporting.. system established by the American Institute of_Certified Accountants.. .and_.endorsed by the National Association of Home Builders, as follows: (a) .The. fi.rs.t. such.-statement, regarding-the .first calendar year follow- ing the...year_ in which. this_.ordinance._.becomes. law, shall be filed on or before March 31, .of. th.e_.se.cond year. following the- year in which this ordinance approving the Development Plan_becomes.-law.-. ..Thereafter, such statement for each successive calendar -year shall be filed annually- on or before March 31, of the following years. (b) The. financial statement shall: (1) follow _an.. accepled accounting procedure; (2-). contain an-operating ,profit and loss statement; ..(3)..contain..such..other information as the Director of.Finance by_ rule. or._regulation shall require; . . .(4_). be duly attested_to .by the president and the ...treasure.r. o.f .said corporation as an accurate and truthful representation of said corporations' financial condition. Section 9. The Director of Finance. shall review all financial state- ments submitted to. him .. by_ . Develope.r., _,.its. successors or assigns. He shall determine .the_net income of_ the _ Develo_per,._ its successors or assigns, and shall determine whether the accumulation of surplus net earnings as defined by law, if any, is being handled as provided by law. 8