HomeMy WebLinkAbout02-13-1984 Industrial Development Corporation Board of Directors Meeting (2)~ ~
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Y
AGENDA
MEETING OF THE LA PORTE INDUSTRIAL DEVELOPMENT CORPORATION TO
BE HELD FEBRUARY 13, 1984, IN THE CONFERENCE ROOM OF THE CITY
HALL, 604 WEST FAIRMONT PARKWAY, LA PORTE, TEXAS, BEGINNING AT
7:00 P.M.
1. CALL TO ORDER
2. CONSIDER APPROVING THE MINUTES OF THE MEETING OF THE INDUSTRIAL
DEVELOPMENT CORPORATION HELD DECEMBER 14, 1983
3. CONSIDER APPROVING APPLICATION FOR FINANCING FOR CONTECH
ENGINEERING
4. CONSIDER PAYMENT OF BILLS
5. ADJOURNMENT
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a
MINUTES
OF THE
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LA PORTE INDUSTRIAL DEVELOPMENT CORPORATION
DECEMBER 14, 1983
1. The meeting was called to order by Chairman Cline at 5:45 P.M.
Members of the Board Present: Virginia Cline, Walter Springall,
John. Longley, Jerry Dennis
Members of the Board Absent: Lois Compton, Robert White,
Jack Lawler
2. The Board considered issuance of Industrial Development
Revenue Bonds for Fairmont Plaza Joint Venture.
Motion was made by Walter Springall to approve issuance of
Industrial Development Revenue Bonds for Fairmont Plaza Joint
Venture. Second by John Longley. The motion carried, 4 ayes,
0 nays .
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Ayes: Cline, Springall, Longley, Dennis
Nays: None
3. The Board considered a resolution authorizing issuance of bonds
and approving documents for Fairmont Plaza Joint Venture.
Motion was made by Walter Springall to approve the resolution
authorizing issuance of bonds and approving documents for Fair-
mont Plaza Joint Venture. Second by John Longley. The motion
carried, 4 ayes, 0 nays.
Ayes: Cline, Springall, Longley, Dennis
Nays : None
4. The board considered payment of legal fees.
Motion was made by Walter Springall to table this item for
further study. Second by John Longley. The motion carried,
4 ayes and 0 nays.
Ayes: Cline, Springall, Longley, Dennis
Nays: None
Mr. Askins will review these bills for changes.
5. There being no further business to come before the Board, the
meeting was duly adjourned at 5:57 P.M.
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C Minutes, La Porte Industrial Development Corporation
December 14, 1983, Page 2
Respectfully submitted:
Jerry Dennis, Secretary
Passed & Approved this the
13th day of February, 1984
Virginia Cline, President
~,
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~"IR
ST
ITY
M
First City Bank
of La Porte
DATE:
RECEIVED FROM:
THE SUM OF:_^-
19 ~ `~"
FOR
" - DOLLARS $ ~ G'C ~ `~
~Z-~-nJ ~~ ~ -
CHECK # l~ ~~
BY: ` `
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~~We believe
in you..."
INDUSTRIAL DEVELOPMENT CORPORATION
CITY OF LA PORTE
a -,~
N0: f D ~ ~~
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7 _
CONTECH
ENGINEERING
February 1. 19@4
City Secretary,
City of La Forte
F. D. Pox 111
La Porte. TX 77571
Gentlemen:
Attached for the consideration of the City of La Forte Industrial
Development Corporation are two copies of our application for
financing for our new home office facility here in La Forte.
~;
We will appreciate the opportunity to ma4;e a presentation of our
plans at the next regularly scheduled meeting of the Poard of
Directors of the Gorporation.
If in the meantime you have questions or require additional
information, please give us a call at 711!471-BuiC~.
Yours truly.
CONTECH ENGINEERING. ING.
~~lihi~ - ~'''(/
I~ Charles R. Gipson
} CRG:wp
` cc: t4nox W. AsE;ins
-,
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__ CONTECH ENGINEERING, INC. P. 0. Box 923 La Porte, Texas 77571 (713) 471-8010
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CITY OF LA PORTS
INDUSTRIAL DEPELOPPIENT CORPORATION
- (a nonprofit corporation)
APPLICATION FOR FINA:\CING
The purpose of this application is to present to the City of La Porte
Industrial Development Corporation (the "Corporation") a reasonably
comprehensive outline of the project (the "Project") for which financing
is being requested. Fill in all blanks, using "None" or "Not Applicable"
where necessary. If additional space is needed, attach separate sheets
as exhibits. The completed application, with supporting documents, is
to be submitted in duplicate to the City Secretary of the City of La
Por.te., Texas, at the following address: City Secretary, City of La
Porte, Texas, 604 hest Fairmont Pk~,y. , P.O. Box 1115, La Porte, Texas
77571 Re: Application for Industrial Development Revenue Bonds. In
addition, one copy of the completed application should be submitted to
counsel to the Corporation, Knox 1~'. Askins, J.D., P.C., 702 ti'est Fair-
mont Pkwy., P.O. Box 1218, La Porte, Texas 77571. At the time this
application is submitted a non-refundable application fee must be paid
to the Corporation as follows: if the amount of financing applied for is
equal to or less than $500,000, then the fee is $500; if the amount of
financing applied for is greater than $500,000, then the fee is $1,000.
i
~ All applications for financing must be submitted to the Corporation for
review and recommendation at least one (1) week prior to a meeting of
the Board of Directors during which action upon said application will be
taken.
1 1. General Information
' a. Legal name, address and telephone number of Applicant.
Contech Engineering, In,c.
P.O. Box 923, 110B North Bgroadwpoay
b. Sta~e Poo~ti~icorpora~ioi~ or1 o)th7er 8fo~m of organization or as-
sociation.
Texas Corporation
c. Re istered agent for service of process for the Applicant.
~harles R. Gipson
110B North Broadway
La Porte, TX 77571 (713)471-8010
d. Person to whom questions and correspondence should be
directed.
Charles R. Gipson
110B North Broadway
La Porte, TX 77571 (713)471-8410
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CI?'~~ OF LA PORTS I\DI;ST:~T.:~L
DE~'ELOP;SE\T CORPOR9TI0\
Application for Financing
Page 2
e. Kame, address and telephone ^~c~ber of counsel for Applicant
'(this does not mean bond counsel;.
Knox W. Askins •
702 West Fairmont Pkwy, P.O. Box 1218
La Porte, TX 77571
f. Dame, address an telephone numbe- of accounting firm.
Mendelovitz & Attemus, P.C.
Three Park West Plaza
Baytown, TX 77520 (713)424-4545
' g. Dame, address and telephone r.•~ber for bond counsel (if one
has been chosen).
Bob Casey, Jr.
Bracewell & Patterson
2900 South Tower
Pennzoil Place
Houston, TX 77002
2. Description of Project
a. Amount of financing applied for: $400,000.00
b. Total cost of Project: $400,000.00
c. Brief narrative description of ~~e Project including c.*hether
land acquisition is included anc she major components of the
Project, the estimated number and type of new jobs to be
created in the City of La Porte ~~ the Project and the annual
payroll of emplo}'e es working at t e Project.
Contech proposes to construct a new home office facility on
81,500 square feet of land located in La Porte on the west side
of Broadway about 250 feet south of Wharton-Weems Road. Land
acquisition is included in the project and the major components
are a 7,020 square foot building and 16,000 square feet of paved
parking area. We estimate the creation of 20 new jobs in the
City of La Porte by the end of 1984. This will bring Contech's
total employment to 50 with an annual payroll of $1.8 million.
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Ci i : Ut Ly rUhYE 1\DUS"I'Ki aL
DEVELOP^1E\T CORPORATION'
Application for Financing
Paoe 3
d. If the Applicant is relying on the "small issue" exemption as
the basis for the interest of the bonds being exempt from
-- federal income taxes, complete and attach to this application
the Industrial 'Development Bond Financing Questionnaire
attached to this application as Exhibit A. Any questions in
this regard should be addressed to bond counsel (if known).
3. Financial Arrangements
a. Summarize the financing arrangements as planned as of this
date including name and address of the financial institution(s)
(bank, investment banking firm, etc.), if determined, which
may be interested in purchasing the bonds if and when such
bonds may be approved for sale: (It is the responsibility of
the Applicant to arrange for the marketing of the bonds if the
financing is approved, with the Corporation's concurrence.)
~ Bayshore National Bank, La Porte, Texas, has expressed an
interest in purchasing bonds.
b. If the Applicant has credit rating, please state the rating
and agency: Dunn & Bradstreet
Rating: DD2
c. Explain how the Project will be financed if all or a portion
of the amount of the financing applied for herein is denied:
Conventional financing will be sought.
4. Financial Statements
a. Attach most recent Form 10-K to the Securities and Exchange
Commission, together faith the most recent Form 10-Q.
OR
1. A brief description of the form of organization and
organizational structure, including parent, subsidiaries
and affiliates; and
2. A brief statement of the history and type of business
engaged in; and
3. The names and ages of executive or managing officers and
directors and a brief account of all business experience
of each such officer or director, including his principal
occupations and employment and the name and principal
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CITE' OF LA PORTS INDUSTRIAL
DE~~LOPMENT CORPORATI023
Application for Financing
Page 4
business of the corporation or other organization in
' which such occupations and employment were carried on;
- and,
4. Audited financial statements (or if audited financial
statements are not available, unaudited financial state-
ments) for each of the three preceding fiscal years.
' b. Detail changes or events subsequent to the date of the most
' recent financial statements (including but not limited to
pending or threatened litigation, claims, assessments, commit-
;
ments, subsequent information regarding uncollectibility of
receivables, valuation of assets, changes in corporate struc-
ture or statements of prior period financial statements) which
may have a material effect on the Applicant's financial
position:
No such changes or events.
5. Agreements of Applicant
~! ~.~
a. Indemnity: By its execution of this Application, the Applicant
agrees that it will at all times indemnify and hold harmless
the Corporation, the Board of Directors of the Corporation,
the City of La Porte, Texas (the "Unit"), the City Council of
the Unit and any of the officers, directors, employees, agents,
servants and any other party acting for or on behalf of the
Corporation or the Unit (such parties being hereinafter
referred to as the "Indemnified Parties") against any and all
losses, costs, damages, expenses and liabilities (collectively
herein called "Losses") of whatsoever nature (including, but
not limited to, attorneys' fees, litigation and court costs,
amounts paid in settlement and amounts paid to discharge
judgments) directly or indirectly resulting from, arising out
of or relating to one or more Claims, as hereinafter defined,
even if such Losses or Claims, or both, directly or indirectly
result from, arise out of or relate to, or are asserted to
have resulted from, arisen out of or related to, in whole or ~
in part, one or more negligent acts or omissions of the In-
demnified Parties in connection with the issuance of the Bonds
or in connection with the Project. The term "Claims" as used
herein shall mean all claims, lawsuits, causes of action and
other legal actions and proceedings of whatsoever nature, .
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CITl OF LA PORTS IA~i;Si:~I=..
DE~~LOPPIENT CCRPORATiO'~
Application for Financing
Page 5
including but not limited to claims, lawsuits, causes of
action and other legal actions and proceedings, involving
~- bodily or personal injury or death of any person or damage to
any property (including, but not limited to, persons employed
by the Corporation, the Unit, the applicant or any other
person and all property owned or claimed by the Corporation,
the Unit, the Applicant, any affiliate of the Applicant or any
other person) or involving damages relating to the issuance,
offering, sale or delivery of the Corporation's bonds to
finance the Project (the "Bonds") brought against any Indemni-
fied Party or ~:aich any Indemnified Party is a party, even if
groundless, false or fraudulent, that directly or indirectly
result from, arise out of or relate to the issuance offering,
sale or delivery of the Bonds or the design, construction,
installation, operation, use, occupancy, maintenance or owner-
ship of the Project or any part thereof.
None of the Indemnified Parties shall be liable to the Appli-
cant for, and tie Applicant hereby releases each of them from
all liability tc the Applicant for all injuries, damages or
destruction of all or any part or parts of any property owned
or'~claimed by the Applicant that directly or indirectly result
from,. arise out of or relate to the design, construction,
operation, use, occupancy, maintenance or ownership of the
Project or any part thereof, even if such injuries, damages or
destruction directly or indirectly result from, arise out of
or relate to, in whole or in part, one or more negligent acts
or omissions of the Indemnified Parties in connection with the
issuance of the Bonds or in connection with the Project.
Each Indemnified Party, as appropriate, shall reimburse the
Applicant for payments made by the Applicant to the extent of
any proceeds, net of all expenses of collection, actually
received b}* them from any insurance with respect to the Loss
sustained. Such Indemnified Party, as appropriate, shall have
the duty to claim any such insurance proceeds and the Indemni-
fied Party, as appropriate, shall assign its respective rights
to such proceeds, to the extent of such required reimbursement,
to the Applicant. In case any action shall be brought or to
the knowledge of any Indemnified Party, threated against any
of them in respect of which indemnity may be sought against
the Applicant, the Indemnified Party shall promptly notify the
Applicant in writing and the Applicant shall have the right to
assume the investigation and defense thereof, including the
emplo}Rnent of counsel and the payment of all expenses. The
Indemnified Party shall have the right to employ separate
counsel in any such action and participate in the investi-
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CITT OF LA PORTS INDUSTRIAL
DEVELOPPIENT CORPORATION
Application for Financing
Page 6
gation and defense thereof, but the fees and expenses of such
counsel shall be paid by the Indemnified Party unless (a) the
employment of such counsel has been specifically authorized by
the Applicant, in writing, (b) the Applicant has failed to
assume the defense and to employ counsel or (c) the named
parties to any such action (including any impleaded parties)
include both an Indemnified Party and the Applicant, and said
Indemnified Party shall have been advised by such counsel that
there may be one or more legal defenses available to it which
are different from or additional to those available to the
Applicant (in which case, if the Indemnified Party notifies
the Applicant in writing that it elects to employ separate
counsel at the Applicant's expense, the Applicant shall not
have the right to assume the defense of such action on behalf
of such Indemnified Party, it being understood, however, that
the Applicant shall not, in connection with any one such
action or separate but substantially similar or related
actions in the same jurisdiction arising out of the same
general allegations or circumstances, be liable for the
reasonable fees and expenses of more than one separate firm of
attorneys for the Tndemnified Party, which firm shall be
designated in writing by said Indemnified Party). The Indem-
nified Party, as a condition of such indemnity, shall use its
best efforts to cooperate with the Applicant in the defense of
any such action or claim. The Applicant shall not be laible
for any settlement of any such action without its consent but,
if any such action is settled with the consent of the Applicant
or if there be final judgment for the plaintiff in any such
action, the Applicant agrees to indemnify and hold harmless
the Indemnified Parties from and against any Loss by reason of
such settlement or judgment.
b: Fees and Expenses: Applicant agrees to pay all reasonable and
necessary costs, expenses and fees incurred by the Corporation
in connection with the issuance of the bonds or in connection
with the Project, including but not limited to the out-of-pocket
expenses incurred by the Corporation's personnel; fees for
legal services and out-of-pocket expenses of the Corporation's
General Counsel and any special counsel (such legal services
to be charged at the normal hourly rate multiplied by the
number of hours spent); fees and out-of-pocket expenses for
consulting advice of the Corporation's consuling engineers; '*
fees and expenses required in connection with the underwriting
or placement of the Bonds; fees and out-of-pocket expenses of
Bond Counsel; fees and out-of-pocket expenses of the trustee;
all recording costs; Blue Sky and legal investment survey
costs, rating agencies; fees and printing costs; and all
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DEb~LOPPfE:v'T CORPOR~TIO`
Application for Financing
a •
incidental ea-pe~ses, costs and charges relating to the Project
and the issuance of the Bonds not enumerated above. The
Corporation ~:il'_ upon request provide or cause to be provided
to the trustee uder the indenture of trust and/or the Applicant
any data or in~~rmation which may be reasonably required to
verify any o= :~e costs and expenses and fees enumerated
above. With =es?ect to the costs, expenses and fees enumerated
above, the Ap?1_cant shall at the Corporation's request advance
on a monthly basis the amounts incurred by the Corporation
pending reimbursement out of the proceeds from the sale of the
Bonds. To the extent that the costs, expenses and fees
enumerated above are not or cannot be paid or reimbursed from
the proceeds of the bonds or if bonds are not issued, the
Applicant sha'_1 ?ay the same.
In addition, at the Mme the Application is forwarded to the Texas
Industrial Commission, tie __-'.pplicant will be required to pay to the
Texas Industrial Commis_io. a $1,500.00 application fee on behalf of the
Corporation as required b;- the Texas Industrial Commission's Industrial
Revenue Bond Program Rules.
t. The undersigned ve:i'ies that he is duly authorized to submit the
foregoing application ca behalf of the Applicant and that the foregoing
information is true and ce_rect to the best of his knowledge and belief
submitted on the ~sr cay of F~'f.~~Z(//~l~y , 198
Applicant
B ~~.~:~~
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Title
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r'ebruary 1 , lytS4
1 .
INDUSTRIAL DEL~,LOPNtSNT BOND FINANCING
}} .- QUESTIONNAIRE
1
. 1. A. Name, address and employer identification number of
- the entity .(the ~~'rriiicipai usct" ) that will purchase
or lease the Project to be acquired or constructed
• with the proceeds of the bonds.
Contech Engineering, Inc.
P.0. Box 923
110B North Broadway
i La Porte, TX 77571
I
Employer Identification No. 74-2186548- _
B. Form of organization of Principal User (check one):
..
x corporation partnership sole proprietorship,
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2. List the name and address.of any entity which, actually
or constructively, is owned more than 50% by the Princi-
pal.User. In addition, list the name and address o-f-any
person and entity which, actually or constructively,
~ owns more than 50% of the Principal User. List all
o-ther entities in which such "more than 50%" owner
actually or constructively has a greater than 50%
~ interest and all family members (i.e., brothers and
sisters, husband and wife, ancestors and lineal
descendants) of such."more than 500" owner. If the
Principal User is not a partnership, list any partner-
ship in which such "more than SO o" owner has any actual
or ccnstructive interest. If the Principal User is a
part^.ership, list the name and address of all the part-
! recs. List all other entities in which any partner in
the Principal User has a greater than 50% actual or
constructive interest and all family members (as des-
cribed above) of any partner. (The person and entities
required to be lasted should be considered "Related
Persons" to the Principal' User for purposes of this
questionnaire.) ~ .
More than 50% Owner: 228rJeffersonpson
La Porte, TX 77571 .
Bryn ,Gipson, Wife
Mark Gipson, Son
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3. Location of roject:
- p
~- Incorporated Township
Address Mu_*~icipality if any County
. Not Assigned La Porte Texas NfA Harris
• * Frontin on and west of Broadwa 250' south of Wharton-Weems Road.
S Y
The Incorporated Municipality or the County (if the
Project is in an unicorporated area) in which the
Project is located will be referred to as the "Politi-
cal Jurisdiction." Please indicate whether the Project
site is, (a) entirely within an incorporated municipality,
. (b) entirely within the unicorporate-d area of the
county or (c) partially in each. If there•is any _
question_as to the location of the•Project site, please
so indicate. _
Entirely within an incorporated municipality.
4. Provide the following information regarding previous
- tax-exempt financing used to finance the Project or any
other facilities used by the Prri~ipal User or Related
Persons wholly or partly within=the Political Jurisdiction.
- J ~•
Amount Outstanding
Amount'of as of Estimated Date
Date of Issue Issue '~ of Issue of the Bor_ds
NONE
f
4a. Please list all tax-exempt financings in the past year
and all tax-exempt financings°currently being considered.
in which the Company has or will be a user of the facili-
~ ties being fina_*~ced with bond proceeds. •
NONE
5. Is the Project Site part of an industrial park that has
been financed with tax exempt bonds?
.. r -
NO
6. Were or will any of the utilities for the Project site
• (gas, electricity, water, sewage, telephone) be provided :
• by a public utility or a State or local government unit?'
How will they be paid for by the Principal User?
Yes. Utilities will be paid directly by the Principal User.
- --- - . ~._ - ---- -r--._ .._ - - ~ - - - - • --. _ .
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7. Is t_he Project site owned or leased by the Principal
User? No.
A . I f owned: N/A
Date o~f optior. contract
P.mount of option
payment
Date of purchase (i.e.,
closing date)
Purchased from
Purchase price
Amount of mortgage
Mortgagee -
B. If leased: N/A -
Lessor
Date of_ Tease -
Terms
Is. there an option to purchase? -
C. If Principal User does not now own the Project
Site, but has an option to~purchase the site,
please state: N/A ~-
' Date option-agreement signed
_ with owner
Amount of downpayment or
- option payment
Purchase price.'
Estimated purchase date
(i.e., closing date)
D. Will all of the property purchased
or leased be used for the project? YEs
If not, give number of acres that
will be used for Project N/A
Is there any relationship legally
or by virtue of common control -
betaeen the Principal User and
the seller of the Project Site? No
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8. Describe the Project. (Number and size of buildings,
equipment, expected use, etc.)
81,500 Square Feet of Land
7,020 Square Feet Office Building
16,000 Square Feet Paved Parking Area
To be used for engineering and related services.
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9. What is the expected date of issuance of the bonds?
August 1, 1984
I 10. Expected use of bond proceeds:
. ~ ~ Paid or incurred Paid or incur
' ~ ~ ~ ~ ~ ~ ~~ ~ ~ prior to expected after expecte
issue Sate cf issue
• date of
_
Item Bonds Bonds
Engineering $ 5 00o S
Architecture 7.000
Building (s ) 211, o00
Machinery and Equipment 17 . o00
Land Acquisition (including
legal and title fees ) 90,000
• Site Improvement 40.00.0
Capitalizeable interest and 20,000
taxes _
Issuance expenses 10,000
Underwriter's discount •
. or placement agent's fees -
TOTAL - ~40~ , 000
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W'
, 11. ill any of the bond proceeds be used for other than
the acquisition, construction, reconstruction or
imp=ovement of land or depreciable property? [Acquisi-
.~ tion, construction, reconstruction or improvement of
land or depreciable property includes, among others,
the following: (a) modifying and installing equipment
moved from another location and (b) the acquisition of
stock of a corporation if the corporation is liquidated
and the tax basis of the corporation's assets is
stepped up to the acquirer's basis in the stock under
IRC § 334(b)(2). Representative examples of the use
of bond proceeds for other than the acquisition, con-
struction, reconstruction or improvement of land or
. depreciable property include, among others, the
following: (a) financing working capital or inventory;
(b) refinancing an existing mortgage or outstanding
loan; or (c) moving of existing equipment from one of
the Principal User's (or Related Person's) other
. facilities to the Project.]
Yes. Relocation of office equipment from Contech's existing
facilities..
_d-
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12. Lisp actual and reasonably
tunes (not including those
the bond proceeds) paid or
re=pest to the Project. (,
.. whe t~:er or not made by the
Perscz, must be included.)
expected capital exre^di-
expenditures funded cut of
incurred by anyone Wi j~.h -
~11 capital expenditures,
Principal User or a :.elated
Paid or Incurred in
Three Years Prior to
Ite*~s Date of Issue of Bonds
Paid or Incurred in
Three .ears After
and Including
Date of Issue of Bonds
Organizat_onal -
ExDenCi t'.:~eS None None
Engine~ri^g
Archi tec ~::. e _
Research ~.^_d - •
Develc~r..ent
Building(s)
MacZinerv end
EcuiD^e~~ -
Land ( ircluCi ng -
decal an -
title fees )
Site Im~rcvement -
CaDitalizE?ble _ _
Interest and -_
Taxes
Bond Issua_ZCe
Exner_ses
Unde?-w~ri te= ' s
Di scou_~t or
Placeme*:t
Agent' s ~ ee
Other
Total $ IVon~ S None
Exre__^_ditures are capital expenditures if they a:e
prcperly chargeable to the capital account or may be
capi~alized under any provision of the Internal Revenue
Coce. Attached as Exhibit "A" is a memorandum which
sets out examples of capital and non-capital ex~endi-
tures.
13. What capital expenditures (other than those for the
?rciect as listed in Paragraph 10 and 12 or thcse
fira::ced with bonds listed in Question 4) have been or
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will be paid or incurred within the 6 year period
described in Question 12 within the Political
Jurisdiction for property used in connection with other
_, facilities to be used by the Principal User or a
~. Related Person?.[All capital expenditures, whether or
not made by the .Principal User or a Related Person,
must be included (e.g., if the Principal User or a
related person leases space in another building within
' _, the Political Jurisdiction, any capital expenditures by
the lessor for the leased property made or to be made
within the 6-year period must be included).]
None
14. A. If any equipment or other facilities to be used in
connection with the Project will be leased, please
describe such items. Also, describe the lease
terms and include a copy of the existing or
proposed lease if available.
B. If any equipment will be moved from another
location, please describe.
Office Furniture, Office Equipment, :and Minor Supplies
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15 . Type o f _
Work - Date Begun
Site Clearan;,e None yet.
Foundation
Buildings
16. On what date .was official action taken by the Develop-
ment Corporation that will issue the bonds?
None yet.
17. What costs have been paid or incurred on the Project
prior to the date in 16. above? Please state to whom
such expenditures where made and the purpose of such
expenditures. _
None
18. On what date were contracts entered into for fabrica-
tion of major components of the Project or for con-
struction of the building(s) for the Project?
None
-E- .
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On what date did fabricaticn, manufacturing or construc-
tion begin? We expect to begin!,about March 1 , 1984.
19. If any part of the Project will be leased to ot~er than
the Principal User, please indicate:
. (a) total s~sare footage of Project: N/A
(b) Amount to be leased to each tenant (if mo=~ than
10% in space or in value).
N/A
20. A. On what date will the development and const=uction
work with respect to the real property in connec-
tion wits the Project be completed?
. July 15, 1984
B. On what date will the personal property in ccnnec-
tion with the Project be installed or Lir_=t put
into use by the Principal _User, whichever is
later.
July 3~] , 1984 .
_ ~.
a/81
~_~
• •
~~ -\
~~ Exhibit A
Treas. Reg. §1.103-10(b)(2)(ii)(e)
- Capital Expenditures
"Section 103(b)(6)(D) capital expenditures" are
~~ defined in Treas. Reg. §1.103-10(b)(2)(ii). That regulation.
states for an expenditure to be a "Section 103(b)(6)(D) capi-
tal experditure'~, inter ali a, it must be properly chargeable
to the capital account wiTthout regard to any rule of the •-
Internal Revenue Code which permits the expenditure to be
treated as a current expense or it must be able to be capi-
talized under any rule or election under the Code.
The following are representative examples o= ex- -
_ penditures which, within the meaning of Treas. Reg. §1.103-
. 10(b)(2)(ii)(e), are properly chargeable to the capital
account or may be capitalized under the Code: .
..
1. Costs allocable -to the accrui sition, cor_structi on, or
erection of buildings, machinery and ea•uipment, furni-
tune ar_d fixtures, and similar~p.~operty having a usezul
life substantially beyond the taxable year. See Treas.
_ Reg. §1.263(a)-2(a). See also Addressogra~h-Multigraph
Coru., 4 T.C.M. 147 (19x5) (legal fees paid to acquire
assets in a reorganization must be capitalized); Missis-
•~ S1DD1 Vallev Trust Co. v. U.S., 61 F.Supp. 451 (E.D. Mo.
1945), rev'd on other issues sub nom. Bueltermar~ v. U.S.,
155 F.2d 597 (8th Clr. 1946) (appraisal costs paid nor
possession of premises must be capitalized); Southeastern
Express Co., 19 B.T.A. 490 (1930), acQ. as to issue 1,
X-1 C.B. 61 (1931) (one-half of corporate general coun-
sel's salary. representing time spent in connection with
organization of a corporation must. be capitalized).
2. Interest on a cor_struction loan, interest on a loan to
purc:~ase real property, interest on a loan to purchase,
transport, or install personal property, and interest
on a mortgage of unimproved and unproductive real pro-
perty and other items (including certain taxes and
insurance payments) permitted to be capitalized under
Section 266 of the CodeTand the regulations thereunder,
even `hough deducted as expenses or. principal user's
tax return. Rev: Rul. ~ 75-135, 1975-1 C.B. 43; Rev.
Rul. 77-262, 1977-2 C.B. 41 (amount of capital ex~endi-
• tunes not offset by income from investing proceeds
• •~ i
i
i
i
a
l
during the te:~porary period). See also Treas. Reg.
§1.256-i(b)(1)(iv) (taxpayer permitted to capitalize
- "any ot~-~er taxes and carrying charges with respect -to
- property, whic:Z in .the opinion of the Commissioner,
are, u deg scund accounting principles, chargeable to
CaDitx~ aCCOUnt").
3. Issux_nce costs (underwriting fees, legal fees, printing
• costs, ~ etc. ); but, of course, only if paid. other than
out of -the bond proceeds. Rev. Rul. 77-23x, 1977-2
C.B. 39.
a. P.mou^ts extended for securing a copyright and plates
that remain the property of the person making the pay-
ments. See Treas. Reg. §1.263(x)-2-(b).
5. Cost of defending or-perfecting title to property. See
Treas. Re;. §1-263(x)-2(c).
6. F.~~cunts expended .for architect's services. See Treas.
. Reg. §1.263(a}-2(d). ~~
7.~ A corporation's cash acquisition of stock of another
coracrati on followed by a licruia.ation of the acquired
_ co~ora~ion to which Section 334(b)(2) of the Code ap-
plies is in substance an .acquisition of underlying as-
sets, and, therefore is a capi~i expenditure with re-
. spect to the acquired corporation's facilities to the
exter_t of the percentage of the corporation's fixed
assets located in the county (or incorporated munici-
pality). The capital expenditure, however, is reduced
by t~.e amount expended by the acquired corporation from
proceeds of an outstanding prior small issue for depre-
ciable tangible assets located in the county (or incor-
porated municipality). LTR 7916021.
8. Co~-nmissions paid in purchasing stock as described in
"6." abov_. S=-° '"rea_=. Reg. §1.263(x)-2(e).
9.
10.
Cost of goodwill or a covenant not to compete in con-
nection with the acquisition of the assets of a going
concern. Rev, Rul. 81-56, 1981-8 I.R.B. 7'; Rev. Rul.
81-55, 1981-8 I.R.B. 6. See Treas. Reg. §1.263(x)-2(h).
TraCema_k xnd tradena.*~e •expenditures even ~~.hough amor-
tizable under Section 177 of the Code.
n
1 1. Cost of railroad rolling stock ever_ if amortizable under
Section 184 of the Code.
12. Advertising costs which result in the acquisition of an
. asset having a useful life substantially beyond the
taxable year. See A. V. Simonson, 5 T.C.M. 718 (1946)
. (cost of a promo tonal film not currently deductible).
13 . -Cost of trucks based at a trucki rg terminal facility
with respect to the terminal facili ~y. Treas. Reg. §
1.103-10(f), Example (11). Comoare Rev. Rul. 80-12
(expenditures for trucks are not capital expenditures
because they are not allocable to any specific facil-
ity).
1?. Expenditures for ee•uip~ment or machinery which is moved
into the courty or municipality wit_^.i n three years of
_ _ the bond ~i ssue; however, -only- if ~'~.he expenditures for
the ec~uip~ent are made within the six-year period.
Treas. Reg. §1.103-10(f), Example (12).
~-
15 . Cost of molds used to manufactuwe c~~stom plasti c pro-
ducts with respect to the manuf~c tort ng fact lity, re-
gardless of whether the manufac-»rer or the customers
. take title to the molds, if the molds have a useful
. life substantially beyond the end of L~.he taxable year.
Rev. Rul. 77-224, 1977-1 C.B. 25~
16. If the principal user of a facility orders equipment
for•the facility from a manufacturer, expenditures paid
or incurred by the manufacturer are considered to have
been incurred concurrently by the principal user. The
amount which must be taken into account as a capital
expenditure is determined by multiplying (a) the total
purchase price payable for the equipment by the prin-
cipal user times (b) the percentage of the manufactur-
er's total expenditures paid ~withir. t~-lree years of the
bond issue. Rev. Rul. 78-347, 1978-2 C.B. 101. See
also Rev. Rul. 7c-485, 1974-2 C.B. 32 (capital expendi-
tures by construction contractor attributed to prospec-
tive owner .of building). Note that merely placing the
purchase order or entering the construction contract
does not incur any capital expenditu_e by itself.
. - r -
17. Cost of timber incurred under a pay-as-cut timber con-
tract when the timber is cut. Rev. Rul. 76-132, 1976-1
C.B. 16. _
~ ~
l8. Cost of mobile buildings for use as temporary offices
even though the mobile buildings later are sold to un-
- - related parties. Rev. Rul. 75-208, 1975-1 C.B. a6.
19. Research and experimental expenditures (including com-
puter software,.Rev. Proc. 69-21, 1969-2 C.B. 303) allo-
cable to facilities where mer_~~fact•~r= ng will occur even
though deducted as expenses. Rev. Rul. 77-27, 1977-1
C.3. 23; LTR 8052071. See Rev. R•11. 77-253, 1977-2
C.B. ~0. See also LTR 802136 (definition of research
and experimental expenditures).
20. Circulation expenditures even though deductible under
Section 173 of the Code.
2l . Ir_tangi ble dri lli ng comets even though dedi:cti ble under
Section 263(c) of the Code.
22. Cost of property obtained under a lease which is treated
as a sale for federal income tax-uurooses. Treas. Rec.
- § 1.103=10 (b) (iii) ; Treas . Reg. §1..103-10 (f ) Exa.*~ple 13 .
- -~
4
23~. Assu.~notion of liabilities in connection with the pur-
chase of property. See Crane v~:- Com_missi over, 331
U.S. 1 (197).
2~. Organizatior_ expenditures of a corporation or a pzrt-
nership, even though amortized under Sections 2~8 or
709, respectively, of the Code. But see LTR~801a111
(organization expenditures not pa a or r_curred with
respect to facilities in the city in which the financed
facility is located and, therefore, not Section 103(b)
(6)(D) capital expenditures).
25. Interest prepayments of a cash (or accrual) basis tax-
payer. See IRC §461(g).
26 . In t_~,e case of an individual ( including a partner) , a
subchapter S corporation or a personal holding company,
real property and construction period interest and
taxes required to be capitalized under Section 189 of
the Code.
27. Cost of real property including water rights, ease-
ments (see Rev. Rul. 80-100, 1980-1 C.B. 25) and the
net cost of demolition of an existing building (LTR
802079). -
i
~~~
28 . Origination fee in cor~-:ection wi'~.h a lease .
- 29. Fair market value of property given up in Section 1031
like-kind exchange.
30: Expenditures~to retire a portion of a prior exempt
small issue; however, only to the exter_t pai d or in-
curred within the six-year period. Treas. Reg.
• --§1.103-10(f) Example 10; Rev. Rul. 76-98, 1976-1 C.B.
31.
The following are representative examples of ex-
penditures which are not "Section 103(b)(6)(D) capital ex-
penditures":
1. Administrative costs, overhead, and wxges~(unless allo-
cable to the acq-uisi~ion, cor_struction, or erection of
property described in "1.~' above):
2. Cost of incidental repairs or maintenance. See Treas.
Reg. §1.263(x)-1(b). ~-~
_ .f
3.' Cost of property which would properly be included in
inventory if on hand at the erid~of the txxable yexr
[i.e., direct inventory costs]. LTR 8015025. See IRC
§§1221(1), 1231(b)(1)(A).~
• a. Purchase of cash, accounts receivable and prepaid
expenses. LTR 8015025.
5. host of property held primarily fcr sale tc customers
in the ordinary course of a trade or business if not
used in the trade or business until sold. See IRC
§§1221(1), 1231(b)(1)(B); Rev. Rul. 62-lal, 1962-2.C.B.
182.
6. Cost of supplies (defined as property which does not
have a use~'ul li **"e substxntially bevond the taxable
year when aca~uired). .
7. Periodic rent payments under a true lease for federal
income tax purposes (Rev. Rul. 77-353, 1977-2 C.B. aa);
but lessor's expenditures for the leased item are capi-
tal expenditures' if made within the six-year period
unless the leased-item is described in "7." below.
-~
C 8. Cost to the lessor of personal property leased under a.
true lease for federal income tax purposes either from
._ the manufacturer or from a person in the trade or'bu~si-
ness of leasing similar property provided, pursuant to
.. .general business practice,. property of this type ordi-
narily is the subject of a lease. Treas. Reg. §1.103-
- 10(b)(2)(iv)(b}; LTR 7925037. However, if ~;. t'rin-
~ -cipal user of a facility purchases the personal prop-
erty within three years of L~he bond issue, sells it to
a leasi*~g company, and re-leases it, a capital extiendi-
ture was incurred on the occasion of the purchase in
' the amount thereof regardless of the subsequent sale
and re=lease. Rev. Rul. 79-2a8, 1979-34 I.R.B. 5. But
see Rev. ~tul. 80-162, 1980-25 I.R.B. 5 (no actual pur-
chase even though purchase order submitted and down
payment made). In addition, expenditures by the ground
lessor wiL~.h respect to the facility on the leased ground
- are capital expenditures; - but,' of course, only i f made
. within three years of the date of the bond issue. LTR
7fi3301S; LTR 7951067; LTR 8011062. _
9. I_=seance of stock or securities :for property in a tax-
.~ free incorporation or other exchange under Section
351(a) of the Code. Treas. Reg:~§1.103-10(b)(2)(v)(c).
If Section 351(a~) applies to a transfer during the 6-
year period surrounding the date of issue, ar_d if, with
respect to the property transfe-rred, expenditures made
within such period would have been Section 103(b)(6~"(D)
capital expenditures if the transferor and the trans-
feree corporation had been related persons for such
period, then such expenditures shall be considered to
be Section 103(b)(6)(D) capital expenditures made by
the transferee corporation. In addition, if a trans-
feror and tra_*~sferee are related persons immediately
following such transfer, such transferor and transferee
shall also be treated as having been related persons
for the portion of such 6-year period preceding the
date of suc:~ transfer. Treas. Reg. §1.103-10(b)(2)
(~) (d) . : ur thermore, the purchase by the shareholder
or security holder of such property is a capital expen-
diture if made within the 6-year period.
10. Exchange of consideration for assets in a tax-free re-
organization or ~iguidation which qualifies under Sec-
tion 381(a) of the Code (relating to carryover of tax
attributes}; but the transferor and transferee are
treated as related throughout the portion of the six-
• '` •
~- _...!
year period preceding the date of exchange. Treas.
Reg. §1.103-10(b)(2)(v)(a), (b); Treas. Reg. §1.103-103-
10(f) Example 17 ("A" reorganization with boot).
11. Exchange of stock in a tax-free "3" reorganization; but
the parent and subsidiary are treated as related through-
out the six-year period. Rev. Rul. 75-~11, 1975-2 C.E.
al,
12. A corporation's cash purchase of 100 percent o= the
stock of another corporation (which later finances a
facility with tax-exempt bonds) which will not be liqui- ''
dated within two years, but which will be operated as
an autonomous subsidiary of the acrn:iring corporation.
The corporations will, however, be. treated as related
parties throughout the-six-year period at least if they
are related on the date of the issue. LTR 8008136.
13. Issuance of a partnership interest_in tax-free exchange
under Section 721 of the Code for property, at least
where •the partner purchased the: property more than 3
years before the- issuance of the bonds. Rev. Rul.
4
• 77-146, 1977-1 C.B. 2~.
~-
14. If the present owner purchased the facility within the
six-year period; the purchase price is a capital ex-
pendi tune, but the prior owner'-s~ capital expenditures
• with respec~: to the facility may be disregarded to t_he
,~ extent they are reflected in the purchase price. Rev.
Rul: 76-427, 1976-2: C.B. 28. See LTR 8011062.
15. Ccst to replace property damaged or cestroyed by fire,
sto ^t, or other casualty to the extent not in excess of
the fair market value (determined i~-znediately before
the casualty) of the property replaced. Treas. Reg.
§1.103-10(b)(2)(iv)(c).
16. Exnenditu=es b_v a Section 501(c)(3) charitable organiza-
tior. for cha_ita:o le activities are not Section 103(b)
(b)(D) capital expenditures for purposes of a related
person's small issue financing of an unrelated facility.
Rev. Rul. 74-289, 1974-1 C.B. 32. See LTR 8011062.
17. Expenditures by ~ political subdivision paid or incurred
in carrying cut its statutory purposes are not Section
103(b)(6)(D) capital expenditures fcr purposes of a
~ srr.all issue financing of an unrelated facility. LTR
•- 8012090.
•
~` •
r- ~?~
i
i
18. Ex~enditu.es by a public utility which is not the prin-.
cipal user .of the bond-financed facility wiy~.h respect
to property of such company or by a Stzte or local go~-
ernmental unit with respect to `she property of such
..unit, . if the following ..conditions are met: (i ) Such
proper~y is used to provide gas, water, sewace disposal
se~ ~ires, electric energy, or telephone ser-~icas; ( ii )
such property, though installed in or corrected to the
facility, is not an integral part of the facility such
that tiie cost of such property is ordinari lv included
as part of the acrn.:isition, construction, or+reconstruc-
tion cost of such facility; and (iii) such property is
of a type normally paid for in the form of periodic
fees based upon time or use. Trews Reg. §1.103-10(b)
(2)(iv)(a)• _
19. Cost of moving equipment or machinery (including
removal and i rstallati on costs? ) except for taxes and
Carr~;ing charges which may be capitalized under Section
250 of the Code. See Eastern. Shoe Manufactur_nc Co: 8
B.T.A.'•1169~(1927), acc., VI3-1:C.B. 9; Adcressoc?=a~h-
h:ulticrach Corte ,~ a T.C.M. lc7 .(195).
20. Theoretical interest of a taxpayer. using his own funds.
See Treas. Reg. .§1.266-1(b)(1)(iv).
seal
•~ •
CONTECH ENGINEERING ir~C.
BALANCE SHEET
SEPTEMBER 30i 1983
ASSETS
CUF2RcNT ASSETS
CASH
ACCOUNTS RECEIVA3LE
NOTES -2ECEIVABLE
TOTAL CURRENT ASSETS
FIXED ASSETS
LEASEHOLD IMPROVEMENTS
FURNITURE 6 FIXTURES
EQUIPMENT
TRANSPORTATION EQUIPMENT
COMPUTERS ~ SOFTWARE
97384.63
160171.23
17.428.97
5.044.21
12069.40
14015.88
27109.96
5.836.24
.. ti4~075.69
LESS ACCUMULATED-DEPRECIATION 23.939.00
TOTAL FIXED ASSETS.
ACCOUNTS,'PAYABLE- .UNEMP. TAXES 428.22
ACCRUED.FEOERAI.''`-INCOME TAX 37365.00
NOTES PAYABLE-'CURRENT 5626.90
TOTAL CURRENT LIABILITIES
TERM LIABILITIES
NOTES PAYABLE 9.528.77
~, TOTAL. TERM. LIABILITIES.
OTHER LIABILLTIES
DEFFERRED :INCOME.: 160171..23
TOTAL iOTNER. LIABILITIES
. ,
~. .
TOTAL LIABILITIES
STOCKHOLDERS EQUITY
COMMON STOCK 1500.00
RETAINED EARNINGS 33.789.93
CURRENT INCOME OR LOSS 66711.47
SEc ACCOUNTANTS COMPILATION LCTTER.
274984.83
____40~136~69_
315121.52
43.420.12..
9528.77
160171.23
213~120.1L
~ •
CONTECH ENGINtERiNG I~vC.
~ BALANCE SHEET
SEPTcMdEr~ 30~ 1983
TOTAL STOCKHOLUERS~ EQUITY
TOTAL LIABILITIES ~ STOCKHOLDERS EG-UITY
SEE ACCOUNTANTS COMPILATION LITTER.
102~0'O1 .40
315121.52
•
INCOME
SALES
INTE.r~EST INCOME
GROSS INCOME
~,~ < <'s
COaT OF SALES
~~ ~ PURCHASES,
,SALARLES
BLUE PRINTS .
BLUE PR.INTS,SUPPLIES
•_`~ 'DRAFTING SUPPLIES
~~.--COMPUTER SUPPLIES _ -
} y ' _ '!~
~:~.;, COST OF GOODS SOLO
1. t Pr~..
'~~"; ;GROSS 'PROF.T" t ~ , r,
v1-1 ~ .1 t ? .3..,. .~l K'1 :.I ~.L. ~~: 1 r
xy „?° EXPENSES ~: ~
s QFF.7CER ~;S~~5ALARY -`
-•
• ~~as . •.;xACLLCICINTL~NGl' b:= LEGAL '
CO'VTECH ENGI?d[~RING INC.
STATEMENT OF INCOME
ScPTEME3ER 30. 1983
THRtE MONTHS ENDED
SEPTEMBER 30. 1983
• AMOUNT PERCENT
~~
'~_•~ ,~,r -ADVERT'IS'ING ~ ~ ~
X462.64`.
'~ AUT(y REPAIRS: •.165.42-
-~ ~
';~ , ~
AUTO ,GAS~
G, OiLL;,, -
+
•
642.14
'
.
s
~~ ~
a~
c
~~ua *: BANK CHARGES= ~
.
~ ~' •.00
` ~ ''BOOKS ~ `_PUBL~II;AT I DNS: _120 :-22
CONTRAGT.~L'ABOR ~~.- 3 822..'32
: CONSULTING;; FEES- 2 X278.75_ '
•-. DEPRECIATION`, 4 ~ 55`6.00
~~; .
`DONATIONS - 82:50 .
1
,
R IPTLONS .
f :, ; DUES E SUBSC ,
:288.97
_
~~ :'E000AT_ION ' ~ ' - X625:00
INSURA
NC~ b~761.67
.
> - INTEREST. ~ 537:.30
~
~
.~;; JANITORIAL 296.00
~
~
'~•~""``MtSCEt,.L~l,NE0U5 ~ _
~~
EXPENSE
•'•
~
?'•~'"
OFF`ICE
u 20.69.
954.
80'
,
>,
,;
;
.
•
~, Ay 1, .f.' L A
~~ ~ POSTAG~;'~•6 FRELGHT ,
-
:
2 i 1.:84 ` .
E. .~
'c Y1 ;RENT ~ `~ n-:~' •1. r ~
tJU i. { D 1 A ~ j'a .b ~.
a~a r:REPAIRS'6 MAINtENANCE
":, ;SALE OF~'.ASSETS .• ' ` ''
~-''`SUPPLIES
TAXES- .PAYROLL.
TAXES= GENERAL
TELEPHONE
TRAVEL 6 ENTERTAINMENT
UTILITIES
3000.00
-' 29.8.0 `
. _' :00 .
258.94
10~5(i7.18
28.55
1366.13
1 ~ 599.97
1.047.19
SIX MONTHS ENDED
SEPTEMEER 30 ~ 1 983
AMOUNT' ~ ~ PERCEN i
99.7 487j271.81 99.8
.3 807.24 .L
100.0. 488~~079.05 100.0
. 1 > .~: ,..
1;1 f-559.52 ' -
2.4
53.6 244094.61. 50.0
.0 100.07 .0
.L '500.06 .1
.0 112.66- .0
.0 390.64- .1
53.9 ~ 256 ~ 532.24:`-x'. 52.6
46.1 231546.81 : 47.4:
11.9 "~ ~ ~52y.000-.00 ~ 10.7;
~2 ~'1 x:155.-00 _ .2
.2. ,,901.15.. •2`
. 1- -203.90 ' .0 ;
.3 ~;2~813..`76 .6
.0 ~ 2:00 .0:
p . ~ ~ 120.22 .0
1 .5 . ` :,'3°~ 822. ~2 .. . 8 `.
.9 5598.75 1.1<
i.
8 ?8823.00'
' 1.8`
.
. 1 _
=:1$2.50 •O:
1.7 11865.92 ~ 2.4
.2 1205.17 .2
• I, c777.00 .2
.0 215..52 .0
.4 ,.~.•1~939.10
: .4.
1 , r
4 98.3 0 ; ~
~~~+~ . 1.
~-
~.
• 0 fi -n
~ •> ,"29 i 80
•0
.0 , ;~1 ~ 043.00,..- .2°
• i -~~~-•-327.34 ~ . 1
a.2 19578.65 4.0
.0 328.55 .1
.5 2769.26 .o
.b 4.547.93 .9
.4 1555.58 .3
ScE ACCOUNTANTS COMPILATION LETTER•
•
TOTAL. EXPENScS
CONTECH tNGIrIEcRING INC.
STATEMENT OF INCOME
'SEPTEMBcR 30. 1y83
THREE MONTHS ENOEO
SEPTEMBER 30~ 1983
A~~IOUNT PcRCENT
SIX .MONTHS E~NOEO
SEPTEMBcR 30~ 1983
AMOUNT PERCENT
69893.18 27..7 127470.34 26.1
NET INCOME BEFORE TAXES -- 46638=78_ -_18=5_ _-_304076.47_ _ _21~3-
' PROVISION.FOR FEDERAL INCO~NE.TAXES
CURRENT -
37365-00
-6.3
1.00
_ 1599 7=7
-
_ -
_
_
.
,.~. s ,. ,... -
-
TOTAL';TAX
-~; 15991.00: .6.3 37365.00
__ __
_
- _--
- 7.7
_
:NET INCOME -
l l .,4-T
-66 ~
7
2. 1
30 ~ 647.78' ':1
-
~ ~ 13.7 ~
_
.
.
,
.~,: ~L ~:a` ":i y acv
~ ~ SE CCOUNTANTS~ COMPILATION LETTER.
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ONTECH ENGINEERING
ORGANIZATIONAL CHART
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WHO NEEDS
FULL-TIME CONTROL SYSTEM ENGINEERS
... ON A PART-TIME BASIS?
{
Contech Process Instrum ent and Electrical Engin eers Offer.
Basic Design Project Managmnent Contract Services
• Field Surveys • Project Planning • Instrument & Electrical.Technicians
• Project Definition • Progress Reporting • Instrument & Electrical Designers
• Control Strategy Development • Cost Control • Instrument & Electrical Engineers
t • Design Specifications • Schedule Control • Project Management Teams
i • Budgetary Cost Estimates • Change Administration • Domestic and International
I Detailed Engineering Procurement Services Typical Projects
• Instrument Engineering Design • Purchase Specifications • Control Room Consolidations
• Electrical Engineering Design • Inquiry & Bid Evaluations • Distributed Control and Computer
• Related Mechanical and Process • Purchase Orders Additions
Design • Expediting and Inspections • Power Distribution Revamps
• Computer Record Systems • Factory Acceptance Testing • Control Improvement &
L • Equipment Specifications Modernization
• P&I Diagram Development Field Services • Programmable Controller
• Detailed Installation Packages
• Power Distribution Systems .Construction Ins ection
p Applications
• Grass Roots
Control Center
L
• Substation & MCC Design .Calibration
.Loo Check .
Design
• Distributed Control Configuration .Start Up Assistance
L • Data Base Preparation
• Analyzer System Design
~_
` Who Needs Full-Time Control System
Engineers on a Part-Time Basis? CONTECH ENGINEERING INC.
Maybe You. Give Us a Call. PROCESS INSTRUMENT ENG/NtzERS
L We'll Appreciate Your Business (713) 471.8010 P.O. Box 923 La Porte, TX 77571
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CONTECH ENGINEERING, INC.
Charles R. Gipson, P.E.
Condensed Resume
Background
-+- B.S. Chemical Engineering, 1967
The University of Texas (Austin, Texas)
+ Registered Professional Engineer (Texas #34621) 1973
Experience
+ 1983 Project Manager, Utility Monitoring Project,
ARCO Petroleum Products Company, Houston, Texas
I
~ + 1982 Project Manager, Gasoline Blending Project,
ARCO Petroleum Products Company, Houston, Texas
+ _1981 Project Manager, Warrengas Terminal Instrument & Power
.Revamp, Warren Petroleum Company, Galena Park, Texas
+ 1980 Section Supervisor, Instrumentation and Electrical,
Exxon Coal Liquefaction Plant, Baytown, Texas
+ 1979 Field Engineer, Exxon Project Management Team,
Exxon Coal Liquefaction Plant, Baytown, Texas
+ 1978 Project Engineer, Exxon Project Management Team,
Exxon Coal Liquefaction Project,
Arthur G. McKee Offices, Cleveland, Ohio
+ 1977 Start-up Advisor, Alyeska Pipeline Service Company,
Trans-Alaska Pipeline Start-up, Prudhoe Bay, Alaska
+ 1976 Project Engineer, Union Carbide, Ethylene Oxide Unit
Analyzers and Sample Systems, Seadrift, Texas
+ .1975 Project Engineer, Exxon Chemical Company, Butyl
. Rubber Plant Computerization, Baytown, Texas
+ 1974 Field Engineer, Exxon Project Management Team,
Lago Hydrodesulfurization II, Aruba, Netherlands
Antilles
~ + 1973 Project Engineer, Crude Topping Units Control
Consolidation, Conoco, Inc., Ponca City, Oklahoma
i_
+ 1972 Instrument Start-up Engineer, Diamond Chemical Company
Chrome Plant, Wilmington, North Carolina
+ 1971 Project Engineer, Armco Steel Company, Direct
Reduction Unit Analyzers, Houston, Texas
•~ •
f Condensed Resume - C. R. Gipson (cont.)
r'
+ 1970 Instrument Start-up Engineer, Occidental Petroleum
Company, Ammonia/Urea Plant, Al Khobar, Saudia Arabia
+ 1969 Instrument Engineer, Exxon Chemical Company,
Polyolefins Unit 1 and 3, Baytown, Texas
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CONTECH ENGINEERING, INC.
Joe L. Copeland, P.E.
Condensed Resume
Background
+" B.S. Mechanical Engineering, 1968
Texas A&M University
+ Registered Professional Engineer (Texas #41199) 1966
Experience
+ 1982 Project Manager, BTPE Project, Exxon Chemical
Americas, Baytown, Texas
+ 1981 Project Manager, Crude Units Reinstrumentation Project,
TOSCO Corporation, E1 Dorado, Arkansas
~ + 1980 Project Manager, UNICORN Consolidation Project,
Exxon Chemical Americas, Baytown, Texas
+ 1979 Project Engineer, Ethylene Oxide Unit Analyzer Revamp,
Union Carbide, Seadrift, Texas
+ 1977 Project Engineer, Utilities Control Center Project,
Exxon Company, U.S.A., Baytown, Texas
+ 1975 Instrument Engineer, Butyl Rubber Plant Computerization,
-Exxon Chemical Company, Baytown, Texas
1 + 1974 Instrument Engineer, Boiler Controls Revamp,
~ E. I. Dupont, Orange, Texas
+ 1973 Instrument Engineer, Flue Gas Monitoring Systems,
Houston Lighting and Power Company, Houston, Texas
+ 1972 Instrument Engineer, Power P1ant~Construction,
Houston Lighting and Power Company, Houston, Texas
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CONTECH ENGINEERING, INC.
__ Joe M. Payne, P.E.
Condensed Resume
Background
+ B.S. Electrical Engineering, 1967
University of Houston
+ Registered Professional Engineer (Texas #33248)
Experience
+ 1983 Project Engineer, Electrical Power and Controls, Gas
Plant Refrigeration Compressor, Flying J, Incorporated,
Cutback, Montana
+ 1982 Project Engineer, Electrical Power and Controls, Distillate
Hydrotreater Unit, Southern Union Refining Company,
Covington, New Mexico
+ 1980 Project Manager, 138KV Electrical Substation, Sigmor
Refining Company, Three Rivers, Texas
+ 1980 Electrical Engineering Manager, Electrical Power and
Controls, Fluidic Catalytic Cracking Complex, Sigmor
Refining Company, Three Rivers, Texas
+ 1980 Project Engineer, Electrical Power and Controls, FCC
Tank Farm adn LPG Truck Loading Facilities, Sigmor
Refining Company, Three Rivers, Texas
~ + 1979 Project Engineer, Electrical Power and Controls, Products
Terminal and Pipeline Pump Station, Sigmor Pipeline
~ Company, San Antonio, Texas
+ 1979 Project Engineer, Electrical Power and Controls, Vacuum
~ Distillation Unit and Refinery Electrical Distribution
System Modernization, Crystal Oil Company,
Longview, Texas -
+ 1978 Project Engineer, Electrical Power and Controls,
Fertilizer Terminal, Sigmor Pipeline Company,
Corpus Christi, Texas'
+ 1977 Project Engineer, Electrical Power and Controls,
2500 HP Gas Compressor, Amoco Chemicals Corporation,
~- Texas City, Texas
+ 1975 Project Engineer, Electrical Power and Controls,
Waste Treatment Facilities, Amoco Chemicals Corporation,
Texas City, Texas
•~ •
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Condensed Resume - Joe M. Payne, P.E.
+ 1974 Project Manager, 13.8KV Power Distribution Modifications,
GAF Corporation, Texas City, Texas
+ 1972 Project Engineer, Electrical Distribution System
Coordination Study, GAF Corporation, Texas City, Texas
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CONTECH ENGINEERING, INC.
~~
Sam D. Tucker
Condensed Resume
Background
+- B.S. Electrical Engineering, 1973
Texas A & M University
+ Registered Professional Engineer (Texas #45027) 1978
Experience
+ 1983 Project Engineer, Gasoline Blending Renovation Project,
ARCO Petroleum Products Company, Houston, Texas
+ 1982 Project Engineer, Waste Heat Boiler Additions,
Lone Star Steel Company, Lone Star, Texas
+ 1981 Project Engineer, 100 Megawatt Induction Furnace,
Lone Star Steel Company, Lone Star, Texas
+ 1980 Project Engineer, Automatic Tubing Straightener and
Saw Line, Lone Star Steel Company, Lone Star, Texas
+ 1979 Project Electrical Engineer, 50,000 BBL/DAY Petroleum
Refinery, National Oil Company of Pakistan, Attock,
Pakistan
+ 1977 Electrical Engineer, Utilities Control Center Project,
1978 Exxon Company, USA, Baytown, Texas
+ 1976 Electrical Engineer, Water Treatment Facilities,
Monsanto, Luling, LA.
+ 1975 Electrical Engineer, Butyl Rubber Plant Computerization,
Exxon Chemical Company, USA, Baytown, Texas
+ 1974 Electrical Engineer, Urea/Herbicide Grinding Facility,
E.I. Dupont, La Porte, Texas
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CONTECH ENGINEERING, INC.
Dennis G. Miller
Condensed Resume
Background
+--B.S. Mechanical Engineering, 1972
Oklahoma State University
+ M.S. Mechanical Engineering, 1974
Oklahoma State University
Experience
+ 1982 Project Engineer, Utilities Flow Meter Replacement Project,
ARCO PEtroleum Products Company, Houston, Texas
+ 1981 Project Engineer, Pipeline Backpressure PLC Controls,
Pipeline Surveillance and Custody Transfer Metering
Projects, Exxon Pipeline Company, Houston, Texas
+ 1980 Project Engineer, Pipeline Surveillance and Custody
Transfer Metering Projects, Exxon Pipeline Company,
Houston, Texas
+ 1979 Field Instrument Engineer, Gas Plant ESD Control
Systems Evaluation and Modification, Exxon Company
• USA, Tyler, Texas
+ 1978 Startup Instrument Engineer, Pump
Alaska Pipeline, Alyeska Pipeline
Anchorage, Alaska
+ 1977 Startup Instrument Engineer, Pump
Alaska Pipeline, Alyeska Pipeline
Anchorage, Alaska
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Station 8, Trans
Service Company,
-rf
Station 10, Trans
Service Company,
Startup Control Systems Engineer, Coal Liquefaction
Pilot Facility, Liquefied Coal Development Corporation,
Cresap, West Virginia
+ 1976 Startup Control Systems Engineer, NGL and-Crude
Stabilization Facility, Union Oil Company, East
Kalimantan, Indonesia
+ 1975 Control Systems Engineer, Gas/Oil Separation and
NGL Processing Facilities, Aramco Services Company,
Houston, Texas
+ 1974 Control Systems Engineer, HDLP Polyethylene Plant,
Amoco Chemicals Company, Chocolate Bayou, Texas
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CONTECH ENGINEERING, INC.
-~ r~..~
Raymond L. Haak, P.E.
Condensed Resume•
Background
--~ B.S. Electrical Engineering, 1969
The University of Houston
+ Registered Professional Engineer (Texas #41779)
Experience
+ 1979- Manager of Technical Sales of Conventional and Analytical
1983 Process Instrumentation, Houston, Texas
+ 1978 .Vice-President Analytical Manufacturing Corporation
for measurement of Carbon-in-Water and Oxygen Analyzers,
Houston, Texas
+ 1977 Project Manager, Analytical Project for Shell Oil, Norco
Louisiana involving over 200 process analyzers and sample;
systems
+ 1976 Project Engineer, Mobile Effluent Monitoring trailer for
Mobay Chemical, Baytown, Texas
• + 1975 Instrument Engineer, Effluent Monitoring Stations,
E.I. Dupont, Orange, Texas
+ 1974 Instrument Engineer, Boiler Controls Revamp,
E.I. Dupont, Orange, Texas
+ 1972- Instrument Engineer, Gas Permeation Calibrator design,
1973 manufacture for KIN-TEK Labs, Texas City, Texas
+ 1969- Instrument Engineer, AMOCO Oil Company, Texas City,
1971 Provided instrument engineering and design service to
major refinery for expansions, revamps and modernization
projects.
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CONTECH ENGINEERING, INC.
Background
+ --B~.S. Chemical Engineering, 1944
Case Western Reserve University
+ M.S. Chemical Engineering, 1947
Frank A. Leisey
Condensed Resume
+ Postgraduate work in process control
Purdue University
Illinois Institute of Technology
+ ISA Life Fellow
'~ ~~
Experience -
+ 1981 .Engineering Associate consulting in the area of instrument
1983 and analyzer selection, application, system design,
` installation supervision, start-up, and troubleshooting.
+ 1972- Process Analyzer Specialist/Consultant, Amoco Oil Company,
1981 Texas City, Texas. Provided process analyzer application
engineering and system design for major process unit
expansions for. eight oil refineries as well as supporting
similar work for Amoco Chemical Co. and Amoco Gas Co.
+ 1960- Senior Project Supervisor, Amoco Oil Co., Whiting, Indiana.
1972 Supervised selection, application, and installation of
process analyzer systems for oil refineries and
chemical plants. During this period Frank developed
18 custom-built analyzers for which he now holds 8 patents.
Three of these analyzers are now commercially available.
Frank has published and presented 12 technical papers
in the area of process analyzer design and application.
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+ 1947- Engineer, Project Engineer, Senior Project Engineer,
1960 Standard Oil Company. Specialized in the design and
development of process analyzers and analyzer systems.
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CONTECH ENGINEERING,. INC.
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Ben D. Stanton, P.E.
Condensed Resume
Background
+_ B.S. Electrical Engineering
University of California at Berkely
+ Registered Professional Engineer in Texas and California
Experience
+ Ben Stanton worked for 28 years with Shell Development Company
at Emeryville, California and Houston, Texas. There he
specialized in the application of advanced control concepts,
instrument evaluation, and analyzer design.
+ Since his retirement from Shell Development Company, Ben
has consulted in the area of control systems conceptual design
and computer applications to process control.
+ Ben Stanton enjoys a strong national reputation as an
expert in instrumentation and process control. He has
published widely and taught at the college level.
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CONTECH ENGINEERING, INC.
Milton C. Gaskin
Condensed Resume
Background
+--Durham Business College 1961-1964
Experience
+ 1982 Senior Staff Designer, BTPE Project
Exxon Chemical Americas, Baytown, Texas
f + 1980- Senior Engineering Technician, UNICORN Consolidation
1981 Project, Exxon Chemical Americas, Baytown, Texas
i
~ + 1978- Senior Engineering Technician, Instrument and Electrical
1979 Design Projects, Exxon Chemical Americas, Baytown,
Texas
+ 1977 Senior Engineering Technician, Exxon Utilities Control
~~= Center, Exxon Company, U.S.A., Baytown, Texas
+ 1976 Design Group Leader, Injection Well Instrument and
Electrical Systems, Texaco, Inc., Sour Lake, Texas
+ 1968- Senior Electrical Designer, Major Projects Design Work,
1974 Exxon Co., U.S.A., Baytown, Texas
+ 1963- Electrical Designer, Oil Movements Modernization,
1967 Exxon Co., U.S.A., Baytown, Texas
CONTECH ENGINEERING, INC.
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George H. Roberts
Condensed Resume
Background
+_ Mechanical Technology
University of Houston 1961-66
~'~ ~..
Experience
+ 1982 Staff Designer, Control Modernization Project,
Tenneco Refinery, Chalmette, La.
+ 1981 Staff Designer, Crude Units Reinstrumentation Project,
TOSCO Corporation, E1 Dorado, Arkansas
+ 1980 Senior Designer, UNICORN Consolidation Project,
Exxon Chemical Americas, Baytown, Texas
+ 1978 Senior Designer, Utilities Control Center Project,
Exxon Company, U.S.A., Baytown, Texas
+ 1976 Senior Designer, 532 Crude Unit Instrument Modernization,
ARCO Petroleum Products Company, Houston, Texas
+ 1975 Designer, Furfal Unit Reinstrumentation Project,
Mobil Oil Corp., Beaumont, Texas
+ 1974 Designer, Boiler House Instrument Consolidation,
E.I. DuPont, Orange, Texas
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CONTECH ENGINEERING, INC.
Tommy Rogers
Condensed Resume
Background
±__.Electrical Technology & Pre-engineering 1973 to present
San Jacinto Jr. College
+ Horieywell-Instrumentation & Industrial Controls Application, 1974
+ Fluor Engineering-Instrumentation School, 1978
Experience
+ 1983 Staff Designer, Gasoline Blending Renovation Project,
~ ARCO Petroleum Products Company, Houston, Texas
( ~- + 19.82 Staff Designer, Plant Engineering Projects, ARCO
j Petroleum Products Company, Houston, Texas
_ + 1981 Sr. Electrical Designer, Sulfur Recovery Unit, Sigmor
Refining Co., Three Rivers, Texas
+ 1979 Sr. Electrical Designer, Two months control panel
inspection and check-out, Honeywell Plant, Philadelphia,
Pa., for Aramco, Uthmaniyah, Saudi Arabia. :.Three
.months field assignment-N.G.L. Plant, Aramco, Shedgum,
..Saudi Arabia
'~ _
+ 1978- Sr: Electrical Designer, N.G.L. Plant-Main .Power
! 1977 Substation, Aramco, Shedgum, Saudi Arabia
f + 1976 .Electrical Designer, No. 2 Crude Unit, Tenneco Oil Co.,
Chalmette, La:
~ + 1975- Service Technician, Commercial & Industrial
1.968 Environmental Equipment, Rebuilding of boilers and
compressors.
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CONTECH ENGINEERING, INC.
' J. K. Connor
Condensed Resume
Background
I + Two years Mechanical Engineering
University of Houston, Houston, Texas
Experience
+ 1982 Supervisor of Checkout and Start-up Team,
Mt. Belvieu Plant, Exxon Chemical Americas,
Mt. Belvieu, Texas
+ 1980- Supervisor of Checkout and Loop Transfer Team,
1981 UNICORN Consolidation Project, Exxon Chemical
America, Baytown, Texas
f
+ 1979 Supervisor of .Checkout and Start-up Team, Baytown
Olefins Plant, Exxon Company, U.S.A.,'Baytown, Texas
1 + 1978 Construction Inspector, VCM Plant, Diamond Shamrock Co.,
Pasadena, Texas
~ + 1976- Field survey Technician, Utilities Control Center
1977 Project, Baytown Refinery, Exxon Company, U.S.A.,
' Baytown Refinery, Exxon Company, U.S.A:, Baytown,
Texas
+ 1975 Supervisor of Checkout and Start-up Team, VCM Plant,
1 Shell Chemical Co., Deer Park, Texas
+ 1971- Engineering Technician, Various Sma11 Projects,
~ 1974 S&B Engineers, Houston, Texas
+ 1954- Instrument Technician, Rohm and Haas, Deer Park,
1969 Texas
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CONTECH ENGINEERING, INC.
P.O. Box 923
110 B North Broadway
La Porte, Texas 77571
(713)471-8010
PROJECT EXPERIENCE
The following projects have been completed by CONTECH and are
representative of our capabilities:
+ Paraxylene Unit-Control Room Systems: Design, Procurement, and
Installation, Exxon Chemical Americas, Baytown, Texas
+ Refinery and Chemical Plant Utility Monitoring Systems, ARCO
Petroleum Products Company, Houston, Texas
+ Warrengas Terminal Power Distribution Facilities, Warren
Petroleum Company (Gulf Oil Corporation), Tulsa, Oklahoma
+ Gasoline Blending System Replacement, ARCO Petroleum Products
Company, Houston, Texas
_ + Paramins Unit-Control Room Systems Design, Exxon Chemical
Americas, Baytown, Texas
+ Gas Plant Analyzer Systems, Shell Oil Company, Kalkaska,
Michigan
+ Hexane Analyzer System Design and Fabrication, ARCO Chemical
Company, Port Arthur, Texas
+ Aromatics Recovery Unit Distributed Control System
Modernization, ARCO Chemical Company, Houston, Texas
+ Butyl Rubber Plant Chromatographs and Sample Conditioning
Systems, Exxon Chemical Americas, Baytown, Texas
+ Emergency Shutdown Systems and Critical Instruments Test
Program, Coal Liquifaction Plant, Exxon Company, U.S.A.,
Baytown, Texas
+ Allyl Alcohol Unit-Control Room Relocation and
Instrument Systems Modernization, FMC Corporation, Pasadena,
Texas
+ PVC Reactor Wash Systems-Programmable Controller System Design
and fabrication, Shintech, Inc., Freeport, Texas
~~ ~~
+ Coker and Magnaformer Unit Power Supply Systems Revamp, ARCO
Petroleum Products Company, Houston, Texas
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+ Process Plant Instrumentation Management Workshop, ARCO Chemical
Company, Houston, Texas
+ Air Compression Facilities-Control Systems Engineering Support,
E1 Paso Chemical Company, La Porte, Texas
+ Propylene Oxide Unit-Oxygen Analyzers, Chromatographs, and
Sample Conditioning Systems Reva-np, ARCO Chemical Company,
Pasadena, Texas
+ Polypropylene Catalyst Preparation Area, Field Survey and P&I
Diagram Development, Rexene Polyolefins Company, Pasadena, Texas
+ Control Strategy Development and Testing, ARCO Chemical Company,
Pasadena, Houston, Channelview, and Port Arthur, Texas and Beaver
Valley, Pennsylvania
+ Ethylene Oxide Unit Startup, ARCO Chemical Company, Channelview,
Texas
+ Emergency Shutdown Systems, Docks A,B,C, and D, ARCO Petroleum
Products Company, Houston, Texas
+ Flare Gas Flow Metering Facilities, Houston Refinery, ARCO
Petroleum Products Company, Houston, Texas
+ Mercury Flow Meter Replacement Project, Houston Refinery, ARCO
Petroleum Products Company, Houston, Texas
+ Tank Farm Firewater Facilities-Instrument and Electrical Systems,
ARCO Petroleum Products Company, Houston, Texas
+ LPS Unit Control Building Design Specifications, Exxon Chemical
Americas, Baytown, Texas
+ PCU and CLEU High Accuracy Turbine Flow Metering, Exxon Chemical
Americas, Baytown, Texas
+ Variable Speed Electric Motor Drives, Coal Liquifaction Plant,
Exxon Company, U.S.A., Baytown, Texas
+ PCU Cabling Revamp and On-line Control Transfer, Exxon Chemical
Americas, Baytown, Texas
+ RHB Unit-Critical Temperature Instruments, Exxon Chemical
Americas, Baytown, Texas
+ Lead Additive Monitoring Systems, ARCO Petroleum Products
Company, Houston, Texas
In addition to these projects CONTECH personnel have had
management roles in a number of major projects. These include:
+ Trans Alaska Pipeline Project, Alyeska Pipeline Service Company,
Anchorage, Alaska
• t ~ .
+ Utilities Control Center Project, Exxon Company U.S.A., Baytown,
Texas
+ UNICORN Control Center South, Exxon Chemical Americas, Baytown,
Texas
+ Elastomers Control Center/Computer Control Project, Exxon
Chemical Americas, Baytown, Texas
+ Hydrodesulfurizatior_ Units-Control Systems and Electrical
Facilities, Lago Oil and Transport Company, Aruba, Netherlands
Antilles
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CONTECH ENGINEERING, INC.
P.O. Box 923
110 B North Broadway
La Porte, Texas 77571
(713)471-8010
RECENT CLIENT REFERENCES
d
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R.C. Davis
ARCO Petroleum Products Company
P.O. Box 5094
Houston, Texas 77012
(713)475-4316
L.R. Lester
Exxon Chemical Americas
P.O. Box 4004
Baytown, Texas 77520
(713)425-1201
C.D. Corbell
Exxon Chemical Americas
P.O. Box 4004
Baytown, Texas 77520
(713)425-1199
J.A. Bernard
ARCO Chemical Company
1200 Milam, Suite 3500
Houston, Texas 77002
(713)654-4676
Bill McIntyre
FMC Corporation
Specialty Chemicals Division
12000 Bay Area Blvd.
Pasadena, Texas 77507
(713)474-4171
Gasoline Blender Renovation
Utilities Monitoring Project
Dock Shutdown Systems
Mercury Meter Replacement Projec~
ARU Control Revamp Project.
Paraxylene Unit-Control
Center Systems, Design,
Procurement, Installation,
and Check out
Paramins Project-Control
Center Systems Design
Ethylene Oxide Unit Start up
Propylene Oxide Unit Analyzers
Modcomp Computer Relocation
Control Strategy Development
Projects
Allyl Alcohol Unit-Control Room
Relocation and Instrument
Modernization
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No• 0132
IN~DICE
~'~~\~ of La Yoffie
C1~ ~ I_a Porte, Texas 77571
P ~ gOx 1115
phone (7131 471.5020 '
ndustria~ Development ~0rp.
~ La Porte I
0, Box 1115
La Porte, TX 77571 J
DESCRIPTION
`I Charges
GEN. LEDGER N ~ Express Del ~ VerJ
~O~GEDATE .GOO-203 Federa
.001-600^V
2_27_83
DATE December 27~ 1983
AMOUNT
~ 36.50
INTEREST
I _ _-
--
CUSTOMER -- -`
~~_
~~~
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AMOU
~~
$ 36.50