The Abatement RegisterBexarAgreement 0004674
Texas Chapter 380 / 381 agreement · Bexar

MINIMED DISTRIBUTION CORPORATION

Agreement 0004674, filed with the Texas Comptroller by BEXAR COUNTY.

$17,980,000committed capital investment
$2 milliongrant or incentive
January 1, 2014performance deadline
The obligation

What the contract requires.

“fails to create and fill a minimum of 1,300 Employment Positions on or before January 1, 2014”Executed agreement, p. 8
“The project will create over 1,300 jobs with an average yearly wage of $31,321”Executed agreement, p. 2
“another $17,980,000 will be invested in personal property”Executed agreement, p. 2
The repayment remedy

What happens if it is not met.

“The COUNTY shall have the right to recapture all Funds paid to MINIMED pursuant to this Agreement”Executed agreement, p. 8

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 · employment levels

What was abated, and for how long.

—2010
—2011
—2012
—2013
—2014

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.

FieldValue & quoted sourcePage
Granting bodyBEXAR COUNTYBEXAR COUNTY, a political subdivision of the State of Texas ("COUNTY"), duly acting herein by and through the Bexar County Commissioners Court (the "Commissioners Court’’) for and on behalf of COUNTY4
Contracting entityMINIMED DISTRIBUTION CORPORATIONMINIMED DISTRIBUTION CORPORATION, a Delaware corporation authorized to do business in the State of Texas ("“MINIMED")4
Parent / guarantorMedtronic Inc.WHEREAS, Medtronic Inc., a global leader in medical technology, was founded in 1949, and serves physicians, clinicians and patients in over 120 countries with more than 38,000 employees worldwide; and WHEREAS, as a subsidiary of Medtronic Inc., MINIMED, is the world leader in integrated diabetes management systems4
Instrumenteconomic development grant agreementan economic development grant agreement pursuant to Chapter 381 of the Local Government Code1
Governing chapterChapter 381, Local Government Code<<<PAGE 1>>> a6 Item — 46 December 15, 2009 Economic Development The Court hereby ordered and approved a motion approving an economic development grant agreement pursuant to Chapter 381 of the Local Government Code, with the MiniMed Distribution Corporation in the amount of $2 million to facilitate capital investment and job creation.—
Capital investment$17,980,000another $17,980,000 will be invested in personal property2
Grant or incentive$2 millionwith the MiniMed Distribution Corporation in the amount of $2 million to facilitate capital investment and job creation.1
Jobs committed1,300 recital language, not a covenantThe project will create over 1,300 jobs with an average yearly wage of $31,3212
Wage requirement$31,321The project will create over 1,300 jobs with an average yearly wage of $31,3212
Square footageNot stated in the agreement—
AcreageNot stated in the agreement—
Performance deadlineJanuary 1, 2014fails to create and fill a minimum of 1,300 Employment Positions on or before January 1, 20148
ExpirationDecember 31, 2025this Agreement shall be effective as of the Effective Date and shall terminate on December 31, 2025 ("“Term’’).6
Effective dateDecember 15, 2009December 15, 20091
SignatoryCHNS Y CONNELLCHNS Y CONNELL18
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
How to check this page

Every line above is in the contract.

Agreement 0004674 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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