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427 <br /> <br /> PASSED AND ADOPTED this 10th day of February, 1999. <br /> <br /> Michael R. Rhodes, President <br /> <br /> ATTEST: <br /> <br /> Melba Harris, Secretary-Treasurer <br /> <br /> APPROVED AS TO FORM: <br /> <br /> Scott P. Foster, City Attorney <br /> <br /> March 27, 1998 <br /> <br /> Mr. Bob Carter <br /> Panda Energy International, Inc. <br /> 4100 Spring valley, Suite 1001 <br /> Dallas, Texas 75244 <br /> <br /> Dear Mr. Carter: <br /> <br /> It is a pleasure for Paris to have the opportunity to work with Panda <br /> Energy and we look forward to having Panda as a part of our business <br /> community. All of your staff that we have had the pleasure of working <br /> with thus far on this project have been exceptional and extremely <br /> professional in their activities. <br /> <br /> There are three basic components regarding your project that we <br /> thought merited some type of written agreement or understanding. We <br /> would like to lay those items out in this letter for each of our reference. <br /> <br /> Issue number 1: Tax abatement. The sites that you have under <br /> option are either in our designated Enterprise Zone or they are outside the <br /> City. For the site in the City, the City would initiate action for tax <br /> abatement. The city of Paris has typically granted 7 years of abatement at <br /> 100% of value. This is what we would ask the council to adopt for Panda. <br /> <br /> <br />