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<br />RESOLUTION NO. 97-145
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<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 9th day of
<br />November, 1992, in Resolution No. 92-091, authorize the execution, delivery, and performance
<br />of an agreement with Kimberly-Clark Corporation, pursuant to the Property Redevelopment and
<br />Tax Abatement Act, V.T,C.A" Tax Code Sec. 312,001, et seq. ("Act"), and the Guidelines and
<br />Criteria for Designation of Reinvestment Zones and Tax Abatement Agreements ("Guidelines"),
<br />to exempt a portion of the value of the property owned by Kimberly-Clark Corporation located
<br />in Reinvestment Zone No. Two-A from ad valorem taxation upon and subject to the terms,
<br />conditions, and provisions set forth in the Tax Abatement Agreement, dated effective as of
<br />November 9, 1992 ("Agreement"); and,
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<br />WHEREAS, pursuant to the Agreement, the term of the tax abatement granted therein
<br />began with the tax year beginning January 1, 1993, and expires on December 31, 1997, subject
<br />to the option to extend for an additional two (2) year period expiring on December 31, 1999; and,
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<br />WHEREAS, Kimberly-Clark Corporation is desirous of exercising the option to extend
<br />the period of tax abatement under the Agreement to December 31, 1999; and,
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<br />WHEREAS, Section 312.208(a) of the Act and the Guidelines adopted by the City each
<br />provide that a tax abatement agreement may be modified by the parties thereto by the same
<br />procedure by which the original agreement was approved and executed; and,
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<br />WHEREAS, the City and Kimberly-Clark Corporation now desire to amend the
<br />Agreement in accordance with the Act and the Guidelines to provide for extension of the period
<br />of tax abatement under the Agreement to December 31,1999; NOW, THEREFORE,
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<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS:
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<br />1. That the City Council hereby finds and determines that the terms of the First
<br />Amendment to Tax Abatement Agreement for Reinvestment Zone No. Two-A, the form
<br />of which is attached hereto as Exhibit A, meet the criteria for tax abatement as set forth
<br />in the Act and in the Guidelines adopted by the City of Paris.
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<br />2. That, pursuant to Section 312.208(a) of the Act, the City Council hereby authorizes
<br />the execution, delivery, and performance by the City of the First Amendment to Tax
<br />Abatement Agreement with Kimberly-Clark Corporation in the form attached hereto as
<br />Exhibit A.
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<br />3. That the Mayor of the City of Paris, Eric S. Clifford, be, and he is hereby,
<br />authorized and directed to execute, on behalf of the City of Paris, the First Amendment to
<br />Tax Abatement Agreement under the terms and conditions and in the form shown in
<br />Exhibit A, attached hereto, and to do or cause to be done all things necessary to effect such
<br />Amendment.
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<br />PASSED AND ADOPTED this 8th day ofDece~97,
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