HomeMy WebLinkAboutR2006-022S:\Our Documents\Resolutions\06\Foreign Trade Zone.doc
RESOLUTION NO.L'
A RESOLUTION OF THE CITY OF DENTON SUPPORTING THE ESTABLISHMENT OF
A FOREIGN TRADE ZONE IN THE CITY OF DENTON'S INDUSTRIALLY-ZONED AREA
NEAR THE DENTON AIRPORT AND AT THE UNIVERSITY OF NORTH TEXAS
RESEARCH PARK IN ORDER TO STIMULATE ECONOMIC DEVELOPMENT GROWTH
AND ACTIVITY; TO ENCOURAGE INTERNATIONAL TRADE AND CREATE JOBS AND
INVESTMENT IN THE CITY OF DENTON; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Foreign Trade Zone ("FTZ") Act was established by Congress in 1934;
and
WHEREAS, the purpose of a FTZ is to expedite and encourage foreign commerce to
stimulate international trade and create jobs and investment in the United States; and
WHEREAS, FTZs encourage import and export activities by exempting or reducing duty
tariffs and local ad valorem taxes on the inventory eligible for FTZ status; and
WHEREAS, Denton businesses and property owners in the industrially-zoned area near
the Denton Municipal Airport and the University of North Texas Research Park have indicated
an interest in the establishment of a FTZ at the University of North Texas Research Park and the
industrially zoned area near the Denton Municipal Airport; and
WHEREAS, Denton businesses and property owners in the industrially-zoned area near
the Denton Municipal Airport and the University of North Texas Research Park are willing to
share in the FTZ application costs; and
WHEREAS, the application process requires letters of support from the local taxing
entities - the City of Denton, Denton County and the Denton Independent School District; NOW,
THEREFORE,
THE COUNCIL OF CITY OF DENTON HEREBY RESOLVES:
SECTION 1. In order to stimulate economic development growth and activity in the City
of Denton industrially-zoned area near the Denton Airport and encourage development and
business opportunities at the University of North Texas Research Park, and encourage
international trade and create jobs and investment in the City of Denton, the Mayor of the City of
Denton is hereby authorized by the City Council to write a letter to the Executive Secretary of
the FTZ Board in Washington, D.C. in support of the establishment of a FTZ in the industrially-
zoned area near the Denton Airport and in the University of North Texas Research Park which
are more fully described and shown in the attached Exhibit A which is made a part of this
Resolution for all purposes.
SECTION 2. This Resolution shall become effective immediately upon its passage and
approval.
EXHIBIT A
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DISCLAIMER
This data has been compiled for the City of Denton. Various _official and unofficial sources'were
used to gather this Information. Evary effort was mada to -onsuro.tho accuracy of this, data,
however. no guarantee N given or implied as to the accuracy of. said data.
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