East Texas Electric Cooperative, Inc.

Agreement 0002401, filed with the Texas Comptroller by County of Polk.

$71,000,000committed capital investment

10–100%of ETEC’s Eligible Property abated

December 31, 2019performance deadline

The obligation

What the contract requires.

“The capital investments related to the Personal Property and Facility contemplated by this Section must be completed on or before December 31, 2019.”Executed agreement, p. 4

“the COUNTY, pursuant to action taken by the Commissioners Court on June 26, 2018, hereby waives the minimum employment commitment”Executed agreement, p. 5

“capital investment in the Personal Property and Facility will be in an amount not less than $71,000,000.”Executed agreement, p. 4

The repayment remedy

What happens if it is not met.

“Following any such default the COUNTY will be entitled to recapture the taxes abated pursuant to this Agreement only for the calendar year in which the Default Notice is sent.”Executed agreement, p. 7

Where a deadline above has passed, no public record exists of whether it was met — not in the Comptroller’s filings, nor in the local government’s own disclosures. That is not evidence of non-compliance. Texas requires nobody to record it.

Abatement schedule · ETEC’s Eligible Property · p. 2

What was abated, and for how long.

100%Year 1 (Tax Year 2019)

90%Year 2

80%Year 3

70%Year 4

60%Year 5

50%Year 6

40%Year 7

30%Year 8

20%Year 9

10%Year 10

A local abatement waives only that taxing unit’s share of the property tax bill. School districts, counties, cities and hospital districts each sign separately.

Every field, as the contract states it

The record.

Field	Value & quoted source	Page
Granting body	County of PolkCOUNTY OF POLK § BETWEEN THE COUNTY OF POLK	1
Contracting entity	East Texas Electric Cooperative, Inc.AND EAST TEXAS ELECTRIC COOPERATIVE, INC.	1
Parent / guarantor	Not stated in the agreement	—
Instrument	Tax Abatement AgreementTHIS TAX ABATEMENT AGREEMENT	1
Governing chapter	Chapter 312, Tax Code (property tax abatement)2018-01, as authorized by the Texas Property Redevelopment and Tax Abatement Act (Texas Tax Code Chapter 312) (“the Act”);	—
Capital investment	$71,000,000capital investment in the Personal Property and Facility will be in an amount not less than $71,000,000.	4
Grant or incentive	Not stated in the agreement	—
Jobs committed	0 figure does not appear in the sentence quoted beside itthe COUNTY, pursuant to action taken by the Commissioners Court on June 26, 2018, hereby waives the minimum employment commitment	5
Wage requirement	Not stated in the agreement	—
Square footage	Not stated in the agreement	—
Acreage	Not stated in the agreement	—
Performance deadline	December 31, 2019The capital investments related to the Personal Property and Facility contemplated by this Section must be completed on or before December 31, 2019.	4
Expiration	Not stated in the agreement	—
Effective date	June 26, 2018entered into as of the 26th day of June, 2018	1
Signatory	Ryan ThomasRYAN THOMAS	11
Chain status	Terminal document — no later agreement in the registry names this one as its predecessor	—

Parcels · p. 14

228406

How to check this page

Every line above is in the contract.

Agreement 0002401 is filed with the Texas Comptroller. Pull the PDF, go to the page number beside any row, and read the sentence. If a figure here does not match the document, tell me and it is corrected the same day.

Where the contract says nothing, the field is left empty rather than filled with a guess.

One of 1,645

Which of these are on your book?

This is a single agreement. I have read 1,645 of the 4,428 Texas has filed, resolved which have been superseded, and recorded what each commits a company to.

Send me an entity and a county and I will tell you what is on it — quoted, page-cited, checked. Free for the first one.

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