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<br />THE STATE OF TEXAS )
<br />)
<br />COUNTY OF LAMAR )
<br />
<br />TAX ABATEMENT AGREEMENT
<br />
<br />This agreement is entered into by and between the CITY OF PARIS, PARIS, TEXAS,
<br />a municipal corporation, situated in Lamar County, Texas, acting by and through its Mayor,
<br />Charles H. Neeley, duly authorized, hereinafter called CITY, and TURNER INTERNATIONAL
<br />PIPING SYSTEMS, INC., acting by and through its Vice-President/Plant Manager, Tom
<br />Glascock, Jr., duly authorized, hereinafter called OWNER.
<br />
<br />WIT N E SSE T H:
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 8th day of
<br />February, 1999, pass Ordinance No. 99-011, establishing Reinvestment Zone No.7 in the City
<br />of Paris, hereinafter called CITY, for commercial and industrial tax abatement, hereinafter
<br />referred to as ORDINANCE, as authorized by the Property Redevelopment and Tax Abatement
<br />Act, as amended, being V.T.C.A. Tax Code, Chapter 312; and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 9th day of
<br />November, 1998, in Resolution No. 98-156, elect to be eligible to participate in tax abatement
<br />agreements in order to maintain and enhance the commercial and industrial economic and
<br />employment base of the Paris area for the long term interest and benefit of the CITY and its
<br />citizens: and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 8th day of
<br />February, 1999, in Resolution No, 99-016, pass and adopt a policy on tax abatement incentives;
<br />and,
<br />
<br />WHEREAS, the policy on tax abatement incentives constitutes appropriate guidelines and
<br />criteria governing tax abatement agreements to be entered into by the CITY as required by the
<br />Property Redevelopment and Tax Abatement Act, as amended; and,
<br />
<br />WHEREAS, the contemplated use of the property, as hereinafter defmed, the contemplated
<br />improvements to the property in the amount as set forth in this AGREEMENT, and the other
<br />terms hereof are consistent with encouraging development of said Reinvestment Zone No, 7 in
<br />accordance with the purposes for which it was created and are in compliance with the CITY's
<br />policy on tax abatement incentives and the ordinance creating such reinvestment zone adopted by
<br />the CITY and all applicable laws; NOW, THEREFORE,
<br />
<br />The Parties hereto do mutually contract and agree as follows:
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<br />TAX ABATEMENT AGREEMENT ~ Page 1
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<br />f.XHIBIT A
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