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RESOLUTION NO. 2016-003 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, <br />TEXAS AUTHORIZING THE CITY TO BE ELIGIBLE TO PARTICIPATE <br />IN TAX ABATEMENT AND APPROVING GUIDELINES AND CRITERIA <br />FOR GRANTING TAX ABATEMENTS IN THE CITY OF PARIS, TEXAS; <br />MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE <br />SUBJECT; AND DECLARING AN EFFECTIVE DATE. <br />WHEREAS, Section 312.002 of the Texas Tax Code requires local taxing units to state their <br />intent to participate in tax abatement agreements and to adopt guidelines and criteria for granting tax <br />abatements every two years; and <br />WHEREAS, these updated policies, guidelines and criteria for tax abatement agreements were <br />reviewed and approved by the Paris Economic Development Corporation Board at their meeting on <br />November 17, 2015, a copy of which is attached as Exhibit "A", and incorporated herein by reference, <br />hereinafter referred to as "Agreement"; and <br />WHEREAS, the City Council of the City of Paris, Texas hereby affirms its intent to be eligible to <br />participate in tax abatement in accordance with Chapter 312 of the Texas Tax Code and to adopt the <br />Guidelines and Criteria for Tax Abatement attached hereto and incorporated herein as Exhibit "A;" and <br />WHEREAS, a three-quarters majority vote of the City Council of the City of Paris, Texas is <br />required to amend the Guidelines and Criteria for Tax Abatement. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, <br />TEXAS, THAT: <br />Section 1. The findings set out in the preamble to this resolution are hereby in all things <br />approved. <br />Section 2. The City hereby elects to be eligible to participate in a tax abatement program and <br />approves and adopts the amended Guidelines and Criteria for Tax Abatement attached hereto and <br />incorporated herein as Exhibit "A". <br />Section 3. This resolution shall become effective from and after the date of passage. <br />PASSED AND APPROVED this 11th day of January, 21 <br />TTEST: <br />nice Ellis, City Clerk <br />