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Palacios ISD board authorizes agreement with Governor's office and Formosa Plastics on tax limitation
Summary
Trustees approved Agreement J0005 — between the Office of the Governor, Palacios ISD and Formosa Plastics Corporation, Texas — to limit taxable value for school M&O ad valorem taxes and authorized the board president to execute the final document.
Trustee Fabian Marroquin moved to approve "the Agreement Between the Office of the Governor, Palacios Independent School District, and Formosa Plastics Corporation, Texas for Limitation on Taxable Value for School District Maintenance and Operations Ad Valorem Taxes, Agreement J0005, in substantially identical form as presented by the Governor's Office," and Trustee Haley Garcia seconded. The board approved the motion unanimously (7–0) and authorized the board president to sign the agreement upon receipt of the final form.
The posted transcript records the motion language and the unanimous vote but does not include the agreement text or the fiscal assumptions behind it. The agenda line identifies the parties and the subject (limitation on taxable value for maintenance and operations ad valorem taxes) and the agreement identifier (J0005).
