Commissioner Stone moved that the following Resolution be adopted:

BEFORE THE BOARD OF COUNTY COMMISSIONERS

OF THE COUNTY OF JEFFERSON

STATE OF COLORADO

RESOLUTION NO. CC98-556

RE: BOARD OF COUNTY COMMISSIONERS - PERSONAL PROPERTY TAX INCENTIVE - MORRISON-KNUDSEN CORPORATION

Resolved, that the Board of County Commissioners hereby approves the following personal property tax refund incentive for the following company which desires to establish a replacement business facility in Jefferson County and authorize the Chairman to execute an Agreement for such tax incentive as approved in form by the County Attorney's Office:

Morrison-Knudsen Corporation: 50% for the first 4 years of operation provided that the company commences operation on or before January 1, 2000, and hires the number of additional employees at the designated salary ranges and invests the amounts for the personal property, capital, equipment, and real property all as set forth in its Incentive Questionnaire.

The tax incentive granted herein is contingent on the company meeting all statutory criteria for such incentive. The tax incentive percentage shall be based on that portion of personal property taxes which is retained by the County and shall not include any taxes due to the school district, any special district or other entity.

Commissioner Holloway seconded the adoption of the foregoing Resolution. The roll having been called, the vote was as follows:

Commissioner John P. Stone AYE

Commissioner Patricia B. Holloway AYE

Commissioner Michelle Lawrence, Chairman ABSENT

The Resolution was adopted by majority vote of the Board of County Commissioners of the County of Jefferson, State of Colorado.

Dated: September 15, 1998