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<br />Section 6. That the City finds that Kimberly-Clark meets the criteria for tax relief and other <br />incentives adopted by the City and that Kimberly-Clark will be located wholly within the qualified <br />business site and will retain jobs and increase economic activity and stability. As required by <br />Section 2303.4051 (c) (2) of the Act, the City's local incentives, including tax incentives, that, at <br />the election of the City Council, are or will be made available to Kimberly-Clark, the nominated <br />project, are identified and summarized briefly in the attached Exhibit B. <br /> <br />Section 7. That upon approval of the Bank, the Double Jumbo Enterprise Project will be <br />named KIMBERLY-CLARK CORPORATION PROJECT ("Project"). <br /> <br />Section 8. That the Enterprise Project designation must be for a predetermined designation <br />period approved by the Bank, with a beginning date and ending date for the Project; and the <br />designation period for the Project may not exceed five (5) years from the date on which the <br />designation is made, as required by Section 2303.404 of the Act. Kimberly-Clark and the City <br />request that the Bank approve December 1,2005, as the beginning date and December I, 2010, as <br />the ending date of the Project. <br /> <br />Section 9. That the enterprise zone areas within the City are reinvestment zones in <br />accordance with the Texas Tax Code, Chapter 312. <br /> <br />Section 10. That the Paris areas that meet the 2003 requirements in Section 2303.101 of the <br />Act for automatic qualification for designation as an enterprise zone are shown in the attached <br />Exhibit C. <br /> <br />Section 11. That this ordinance shall be effective following passage and publication as <br />required by law. <br /> <br />PASSED, APPROVED, AND ADOPTED this 10th day of October, 2005. <br /> <br />ATTEST: <br /> <br />~O\ CQ~f) <br />J . ce Ellis, City Clerk <br /> <br /> <br /> <br />. Scherik, City Attorney <br />