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MASTER ECONOMIC DEVELOPMENT AGREEMENT <br />This Master Economic Development Agreement ("Master Agreement") is made by <br />and among the City of Paris, Texas ("City"), the Paris Economic Development Corporation <br />("PEDC"), and American SpiralWeld Pipe Company, LLC ("American"), acting by and <br />through their respective authorized officers and representatives, relating to the <br />construction and operation of a state of the, art spiral weld pipe mill in Paris, Lamar <br />County, Texas. <br />WITNESSETH: <br />WHEREAS, the City of Paris, Texas and the Paris Economic Development <br />Corporation wish to encourage and incentivize industrial development within the City; and <br />WHEREAS, American SpiralWeld Pipe Company, LLC wishes to construct and <br />operate a state of the art spiral weld pipe mill within the City; and <br />WHEREAS, the City, a home rule municipal corporation, and PEDC own real <br />property suitable for the construction of such spiral weld pipe mill; and <br />WHEREAS, the City has heretofore adopted an economic development program <br />pursuant to TEx.Loc.Gov'T CODE CHAPTER 380; and <br />WHEREAS, the PEDC is a Type A Texas non-profit economic development <br />corporation with the duties and authority granted to it by TEx.Loc.Gov'T CODE CHAPTERS 501 <br />AND 504; and <br />WHEREAS, the City Council of the City of Paris did heretofore, on the 22nd day of <br />January, 2018, in Resolution No. 2018-004, elect to be eligible to participate in tax <br />abatement agreements in order to maintain and enhance the commercial and industrial <br />economic and employment base of the Paris area for the long term interest and benefit of <br />the City and its citizens; and, <br />WHEREAS, under the Texas Enterprise Zone Act (TEx.Gov'T CODE CHAPTER 2303), the <br />designation of an area as an Enterprise Zone also constitutes designation of the area as a <br />reinvestment zone (the "Reinvestment Zone"); and <br />WHEREAS, pursuant to the 2010 Census, the Property granted herein to American <br />by the City and PEDC within City of Paris, Texas, is included within an Enterprise Zone; and <br />32300891 00 1 <br />