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Regular Council Meeting December 12, 2016 Page 4 Regular Anenda 17. Receive input from citizens, discuss and act on a presentation regarding streets bond projects. Mayor Hashmi said his presentation was simply suggestions as a result of the annexation of PJC by the County. He confirmed with Finance Director Gene Anderson that PJC was projecting they would drop their tax rate by .08. Mayor Hashmi inquired of Mr. Anderson the effect on the City's bond rating if the City sold certifications of obligations. Mr. Anderson said based on the two bond ratings, the City could manage it. Mayor Hashmi explained that over the years the roads in Paris had deteriorated due to finances and other important projects, such as the water and sewer bond project. He said if the City continues to ignore this very serious issue that over time the roads will only become worse and a huge bond would be needed to address the problem. He outlined the current tax rates of the taxing authorities and stated with the annexation of PJC, that the citizens of Paris would be paying almost 8 cents less in property taxes. Mayor Hashmi suggested that out of the eight cents decrease, they look at adding five cents of that eight cents to City tax which would mean that the citizen's taxes would still be lower than their current rate and at the same time it would allow redoing streets in Paris. He explained this five cents would generate almost 11 million dollars in revenue that could be used for streets, yet citizens would still be paying less in property taxes than they currently pay. Mayor Hashmi said he would like to hear from citizens and asked that the item be placed on the next agenda. He said if citizens were for this, he would be in favor of issuing certificates of obligation but if they had mixed feelings about it, he would be in favor of putting it on a ballot. Mayor Hashmi said if citizens were against this, then he did not want to do anything. Council Members each expressed a desire to receive input from citizens. Mayor Hashmi asked this item be placed on the next agenda to receive input from citizens. 18. Continue the public hearing, discuss and act on an ORDINANCE NO. 2016 -038: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, AMENDING ZONING ORDINANCE NO. 1710 OF THE CITY OF PARIS, TEXAS, AS HERETOFORE AMENDED, SO AS TO REZONE LOTS 8A AND 12, CITY BLOCK 262, BEING LOCATED AT 1240 N.E. 20TH STREET, IN THE CITY OF PARIS, LAMAR COUNTY, TEXAS, FROM A SINGLE - FAMILY DWELLING DISTRICT (SF -2) TO A MULTI - FAMILY DWELLING DISTRICT (MF -2); DIRECTING A CHANGE ACCORDINGLY IN THE OFFICIAL ZONING MAP OF THE CITY; PROVIDING A REPEALER CLAUSE, A SEVERABILITY CLAUSE, A SAVINGS CLAUSE, A PENALTY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. A Motion to bring this item from the table was made by Mayor Hashmi and seconded by Council Member Drake. Motion carried, 7 ayes — 0 nays. Mr. Efrussy explained this zoning case was heard by Planning and Zoning in November and they voted 4 -1, in favor of recommending approval to City Council. He also said a written