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<br />j) that property tax revenue lost as a result of the tax abatement agreement will be <br />recaptured by the City if the owner of the property fails to make the improvements <br />or repairs as provided by the agreement; <br /> <br />k) each term agreed to by the owner of the property; <br /> <br />1) a requirement that the owner of the property shall certify annually to the City <br />Council that the owner is in compliance with each applicable term of the <br />agreement; <br /> <br />m) contractual obligations in the event of default, violation of terms or conditions, <br />delinquent taxes, recapture, administration and assignment, or other provisions that <br />may be required by state law, or in the discretion of the City Council; and <br /> <br />n) that the City Council may cancel or modify the agreement if the property owner <br />fails to comply with the agreement. <br /> <br />Section 7. That if any section, paragraph, clause, or provision of this Ordinance shall, for <br />any reason, be held to be invalid or unenforceable, the invalidity or unenforceability of such <br />secti~n, paragraph, clause, or provision shall not affect any of the remaining provisions of this <br />Ordinance. <br /> <br />Section 8. That it is hereby found, determined, and declared that a sufficient notice of the <br />date, hour, place, and subject of the meeting of the City Council at which this Ordinance was <br />adopted was posted at a place convenient and readily accessible at all times as required by the <br />Open Meetings Act, V.T.C.A., Government Code, Chapter 551. <br /> <br />Section 9. That this Ordinance shall take effect immediately from and after its passage by <br />the City Council. <br /> <br />PASSED AND ADOPTED this 14th day of February, 2000, by the City Council of the <br />City of Paris, Paris, Texas. !)~~)y/ d7! <br /> <br /> <br />Charles H. Neeley, May <br /> <br /> <br />ATTEST: <br /> <br />~' <br />'--m~\~~\.~\.N' ~ <br />Mattie Cunningham, City Clerk <br />