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If <br />A TRUE COPY <br />CERTIFICADON ON LAST PAGE <br />ORDINANCE NO. 2011- oil J -K. BARTON, CLERK <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 />WHF,REAS, section 196.1995(10), Florida Statutes, regi im that a_uy WOOD pf 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 Iocal 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 />ECTION 1. ENA TN[ENT AUTHO <br />Section 3, Article VII of the Florida Constitution and section 196.1995, Florida Statutes, <br />authorize the Board of County Commission= 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 feferendum held on November 2, 2010, a <br />majority of voters in Indian River County voted in favor of such authority, and Title M of the <br />Code of Indian River County, entitled "Economic Development Ad Valorem Tate 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 />AMCHMENT 2 <br />106 <br />P40 <br />