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ORDINANCE NO. 2011 - 011 <br />AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, AMENDING TITLE XI OF THE <br />CODE OF INDIAN RIVER COUNTY (ECONOMIC DEVELOPMENT AD <br />VALOREM TAX EXEMPTION) BY CREATING A NEW SECTION <br />1100.14 GRANTING AN ECONOMIC DEVELOPMENT AD VALOREM <br />TAX EXEMPTION TO INEOS NEW PLANET BIOENERGY, LLC; <br />MAKING FINDINGS AND PROVIDING FOR SEVERABILITY AND AN <br />EFFECTIVE DATE. <br />WHEREAS, Title XI of the Code of Indian River County, entitled "Economic <br />Development Ad Valorem Tax Exemption," authorizes the Board of County Commissioners to <br />grant economic development ad valorem tax exemptions ("Exemption") to certain new or <br />expanding businesses; and <br />WHEREAS, section 196.1995(10), Florida Statutes, requires that any action of the <br />Board granting an Exemption to a new or expanding business be set forth in an ordinance; and <br />WHEREAS, the Board has determined that all prerequisites to the granting of an <br />Exemption to INEOS New Planet BioEnergy, LLC, a Delaware limited liability company, have <br />been met, and the granting of such Exemption will promote and strengthen the local economy <br />and thereby enhance the health, welfare and general well-being of the citizens of Indian River <br />County, <br />NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, THAT: <br />SECTION 1. ENACTMENT AUTHORITY. <br />Section 3, Article VII of the Florida Constitution and section 196.1995, Florida Statutes, <br />authorize the Board of County Commissioners to grant economic development ad valorem tax <br />exemptions to certain new and expanding businesses, upon majority vote in favor of such <br />authority in a referendum called for such purpose. In a referendum held on November 2, 2010, a <br />majority of voters in Indian River County voted in favor of such authority, and Title XI of the <br />Code of Indian River County, entitled "Economic Development Ad Valorem Tax Exemption" <br />became effective. <br />SECTION 2. FINDINGS. <br />The Board finds that the above "Whereas" clauses are true and correct, and hereby <br />incorporates such clauses as findings of the Board. Additionally, the Board specifically finds <br />that INEOS New Planet BioEnergy, LLC meets the requirements of section 196.012(15), Florida <br />Statutes. <br />1 <br />