1999-024-TURNER INTERNATIONAL PIPING SYSTEMS, TAX ABATEMENT AGREEMENT

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RESOLUTION NO. QQ-n?4 WHEREAS, the City Council of the City of Paris has been presented a proposed agreement by and between the City of Paris, Paris, Texas, and Turner International Piping Systems, Inc, , establishing a reinvestment zone in the City of Paris, Paris, Texas, and providing for a commercial and industrial tax abatement for certain improvements, a copy of which is attached hereto and incorporated herein by reference hereinafter called "AGREEMENT"; and, WHEREAS, upon full review and consideration of the AGREEMENT, and all matters attendant and related thereto, the City Council is of the opinion that the terms and conditions thereof should be approved, and that the Mayor should be authorized to execute it on behalf of the City of Paris; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS TEXAS: 1. That the terms and conditions of the proposed AGREEMENT, having been reviewed by the City Council of the City of Paris and found to be acceptable and in the best interests of the City of Paris and its citizens, be, and the same are hereby, in all things, approved, 2. That the Mayor is hereby authorized to execute the AGREEMENT and all other documents in connection therewith on behalf of the City of Paris substantially according to the terms and conditions set forth in the AGREEMENT. 3. That the terms of the Tax Abatement Agreement and the property the subject thereof meet the Guidelines and Criteria heretofore adopted by the City of Paris that govern Reinvestment Zone No, 7. 4. That, by hereby granting the tax abatement, there will be no substantial adverse effect on the provision of City services or on its tax base, 5. That the planned use of the property the subject of the tax abatement will not constitute a hazard to public safety, health, or morals. 6. That this approval and execution of the AGREEMENT on behalf of the City is not conditional upon approval and execution of any other tax abatement agreement by any other taxing entity. 7. That this resolution shall become effective from and after its passage. PASSED AND ADOPTED this the 18th day of February, 1999.