The city hereby nominates the area set forth below an enterprise zone in accordance with the act [the Texas Enterprise Zone Act, V.T.C.A., Government Code, chapter 2303]:
For a 2,307-acre tract of land within Parker County and the cities of Weatherford and Hudson Oaks, Texas, particularly described as follows:
Beginning at the intersection of the east right-of-way of North Main Street and the north right-of-way of the railroad track.
Thence north along the east right-of-way line of Main Street crossing Front, Soward, Throckmorton, Wheeler, a distance of 1,600 feet (more or less) to the intersection of North Main and Edna Street, east to Liberty, north to Common, east to Duke, north to East First Street, north along the line of the city limits, a distance of 6,120 feet (more or less).
Thence west along the city limits to Farm Road 2421 a distance of 5,680 feet (more or less) south to Farm Road 920 a distance of 720 feet (more or less).
Thence west along Farm Road 920 to Karen Street a distance of 2,066.4 feet (more or less).
Weatherford Industrial Park
South 470.19 ft., thence west 372.56 ft., thence south 1,441.26 ft. to railroad tracks right-of-way.
Thence east along the railroad tracks crossing North Bowie and Franklin Street to North Main a distance of 8,660.81 feet (more or less).
Thence south on a line five feet west of the centerline of North Main to the intersection of the U.S. Highway 80/180.
Thence west on a line five feet north of the centerline of U.S. Highway 80/180 to a unnamed creek 560 feet (more or less) west of city limits on Highway 180, then southwest a distance of 4,480 feet (more or less) to a point southwest of Greenwood Road.
Thence southeast a distance of 6,560 ft. (more or less) to the city limits, thence north along the city limits of 1980 to Highway 180. East on Highway 180 on a line five feet south of the centerline to Bowie Street. South on Bowie Street on a line 5 feet to the west of the centerline to the service road on the south side of Interstate I-20. East on a line 5 feet south of the centerline of the service road to a tract known as Hobson Air Conditioning.
Hobson Air Conditioning Property
Beginning at an iron pipe, said point being the NW corner.
Thence South 84 deg 42 min East, with the SBL of the above-mentioned Interstate Highway 20, 1,477.5 feet to an iron pipe for corner.
Thence South 05 15 min 26 sec West with the general line of fence 939.69 feet.
Thence N 88 deg 30 min 39 sec West with the general line of fence, 1,392.42 feet to an iron pipe for a corner.
Thence N 00 deg 22 min 56 sec East with the general line of a fence, 1,038.48 feet to an iron pipe for a corner in the SBL of Interstate Highway 20; to the place of beginning and containing 32.531 acres of land (more or less).
West on a line 5 feet north of the centerline of the service road to Bowie Street, north on a line 5 feet east of the centerline of Bowie Street to the intersection of Highway 80/180, east along a line five feet south of the centerline of Highway 80/180 to Santa Fe. South on a line 5 feet west of the centerline of Santa Fe a distance of 4,440 feet (more or less) to Eureka Drive.
Clear Lake Industrial
East a distance of 1,120 ft. (more or less) on a line five feet north from the center of Eureka to Clear Lake Industrial Park, north for a distance of 330 feet, east a distance of 619.3 feet, southeast along the T&P Railroad a distance of 1813.43 feet, southwest a distance of 115.0 ft., west a distance of 1469.72 feet, south a distance of 784 ft. to East Park Road, west a distance of 338.5 feet, northwest a distance of 151.69 feet to Clear Lake Road, north on Clear Lake Road a distance of 1844.99 feet to Eureka Street. (An area of 97.78 acres more or less.)
City of Weatherford
Thence from a steel rod in the NBL of Eureka Street for corner.
Thence S 88 deg 46 min West 348.0 feet to a steel pipe for corner.
Thence with the general line of a fence S 00 deg 41 min West 104.22 ft. to a steel pipe for a corner.
Thence with the general line of a fence N 89 deg 47 min West 972.08 feet the SWBL of the above-mentioned T&P Railroad Company S 56 deg 51 min 59 sec East 1328.13 feet to a steel pipe for a corner.
Thence North 11 deg 01 min E 68.34 feet to a point in the SWBL of the T&P Railroad Company for a corner.
Thence with the general line of a fence N 88 deg 37 mm 16 sec East 1339.11 feet to a steel 2" pipe for a corner.
Thence with the general line of a fence N 00 deg 46 min 32 sec East 810.68 feet to a point for a corner.
Thence with the NEBL of the above-mentioned FM Highway 2552, S 47 deg 30 min 38 sec East 627.39 [feet] to a point for a corner.
Thence N 00 deg 27 min 06 sec East 341.32 feet to a point in the NEBL of FM Highway 2552 for a corner.
Thence S 89 deg 02 min 49 sec West 328.78 feet.
Thence N 00 deg 23 min 47 sec East 42.5 feet (more or less).
Thence with the general line of a fence N 88 deg 37 min 16 sec East 1,033.72 feet to a steel pipe for a corner.
Thence S 00 deg 00 min 36 sec West 423.41 feet to a steel pipe for a corner.
Thence with the NBL of said 1.08-acre tract of land S 89 deg 30 min 29 sec West 89.0 feet to a point being the NW corner of said 1.08-acre tract of land for a corner.
Thence with the EBL of the above-mentioned 1.08-acre tract of land S 00 deg 32 min 16 sec E 545.60 feet to a point being the NE corner of said 1.08-acre tract of land for a corner.
Thence with the NBL of the above-mentioned Eureka Street S 88 deg 46 min West 161.35 feet to a point being the SE corner of a 1.08-acre tract of land for a corner.
Thence south 210 feet to (the place of beginning and containing 23.999 acres of land, more or less), west a distance of 1,120 feet (more or less) on a line 5 feet south of the centerline of Eureka to Santa Fe.
HKP Industrial Park
North on a line five feet east of the centerline of Santa Fe to the intersection of Highway 80/180, east on a line five feet south of the centerline of Highway 80/180 to Bankhead Drive, south along a line 5 feet west of the centerline of Bankhead Drive to Banks Drive on the south side of I-20, south a distance of 554.5 feet (more or less) along a line five feet east of the centerline of Banks Drive East on a line a distance of 179.1 feet.
Thence south 764.7 feet (more or less) then west, following the property (fence) line 239 feet (more or less) then south along the east side of Banks Dr. for 100.9 feet (more or less) then west 672 feet (more or less) on the south side of Brim Street then north 65 feet (more or less) to the property line then west 276 feet to the west property line, then north 946.86 feet (more or less) to the north property (fence) line then east 887.7 feet (more or less).
Thence west 1,116.2 feet (more or less) to the west property (fence) line then north 357.66 feet (more or less).
Thence north and east 1,147.2 feet (more or less).
Thence to the northwest corner of Banks Drive and Bankhead Highway.
North along a line 5 feet east of the centerline of Bankhead Drive to Highway 80/180 East a on a line 5 feet south of the centerline of Highway 80/180 to the city limits of Hudson Oaks.
Hudson Oaks
South and east following the city limits line to the intersection of Newell Drive and Shannon Drive, southeast following along the creek between Shannon Drive and Joalene Drive, east to a line separating Hudson Heights Addition and Hidden Oaks Addition, north to the city limits line at the north end of Hidden Oaks. North and east to where the city limits joins Interstate I-20. West [and] northwest to intersection of city limits at Winfield Drive and the north service road Interstate I-20. West and northwest following city limits to where the city limits joins Lot #2 of North Oakridge addition, south a distance of 200 feet (more or less), west a distance of 450 feet (more or less) to North Oakridge Drive. South and southeast to Garner Road a distance of 700 feet (more or less). South and west to west city limits of U.S. 80 following the city limit line.
East on U.S. 80 to the city limits at Winfield Road. East along a line five feet south of centerline of the north service road to the east city limits at Mikus Road. North and west along the city limits line to the beginning point at Winfield Drive consisting of 26.59 acres.
Parker County Airport
East southeast to the intersection of the south service road of I-20. East along a line five feet south of the centerline of the south service road to the city limits on the west side of the airport, south along a line of the city limits, to Bankhead Road, east along the city limits line to Russell Road, north along a line five feet west of the centerline of Russell Road to the south service road of I-20, then west along a line five feet north of the centerline of the south service road to connect with the point across from Winfield Drive.
Thence west on a line five feet north of the center of Interstate 20 to the intersection of Interstate 20 and Highway 80, thence west on a line five feet north of the centerline of U.S. 80 to the intersection of Fort Worth Highway and North Main, thence north on a line five feet east of the centerline to the railroad track.
(Ordinance 1991-5, sec. 1, adopted 5/20/91)
The city will provide certain tax incentives applicable to business enterprises in the zone which are not applicable throughout the county as follows:
(1) 
The city shall abate taxes on the increase in value of real property improvements that locate in a designated enterprise zone. The level of abatement shall be based upon the extent to which the business receiving the abatement creates jobs and adds a value to the tax rolls in accordance with exhibit A attached to Ordinance 1991-5, which is the city tax abatement policy.
(2) 
The city shall also offer sales tax refunds on all materials and supplies used for renovation and/or construction bought by an eligible business within the enterprise zone, the amount of tax paid under the business and remitted to the comptroller of public accounts to the extent authorized by Texas Tax Code ch. 321.508, for a period of five years from the date the state economic development and tourism office certifies the entity as a qualified business under the act. The sales tax refund will only be that portion that the city collects which is other than to lower property tax, currently 1.50 cents to the dollar. In order for the eligible business to receive the sales tax refund, it must present all bills and receipts which clearly show what was purchased. A statement indicating how the material and supplies were used in the construction and renovation of the building must accompany the bills and receipts.
(3) 
The city will also waive a portion of all building-related fees charged by the city to an eligible business located within the enterprise zone, prorated on a scale related to the number of jobs created. The permits must be obtained and all plans and construction must be approved and meet the various city codes. However, the fees for the building, electrical, gas, plumbing, heating and vent permits, various inspections, plan review, water tap, sewer tap, and curb breaks will be partially waived for any eligible business located within the enterprise zone. The building-related fees will be reduced by $100 for each new job created and the job is filled for a period of not less than six months. The maximum reduction will be one-half of the total building-related fees due.
(4) 
The city will continue to review other incentives. If it proves productive with a minimum cost to the city, the city will add that incentive. It is the goal of the city to make the enterprise zone as productive and beneficial as possible, so future incentives will be likely to occur within the enterprise zone.
(Ordinance 1991-5, sec. 3, adopted 5/20/91)
The area described in this article is designated as an enterprise zone and a reinvestment zone, subject to the approval of the state economic development and tourism office.
(Ordinance 1991-5, sec. 4, adopted 5/20/91)