2018-028 Resolution Terminating Tax Abatement Agreement with Essent PRMC L.P. dba Paris Regional Medical Center

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RESOLUTION NO. 2018-028 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS; TERMINATING A TAX ABATEMENT AGREEMENT WITH ESSENT PRMC L.P. d/b/a/ PARIS REGIONAL MEDICAL CENTER; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, on October 8, 2012, by Resolution No. 2012-088, the City Council of the City of Paris approved an agreement by and between the City of Paris, Texas and Essent PRMC L.P. d/b/a Paris Regional Medical Center, a Limited Partnership ("PRMC") providing for a commercial and industrial tax abatement for certain improvements; and WHEREAS, said Tax Abatement Agreement ("Agreement"), a copy of which is attached hereto as Exhibit A and incorporated by reference as if fully setout herein, was executed by the parties on October 8, 2012; and WHEREAS, said Agreement related to capital improvements to be made at both PRMC's Northward Bound Campus and it's South Campus, located in the downtown area of the City; and WHEREAS, said Agreement contains a recital, to wit: "WHEREAS, the contemplated use of the improvements located and to be placed at the South Campus at a cost to the Owner [PRMC] of at least $100,000.00 will enable the South Campus to continue to be used as an operational and viable hospital and health care facility in the City of Paris, Lamar County, Texas, for its residents and for others; and this is consistent with encouraging development of said Enterprise Zone in which the South Campus is located in accordance with the purposes for which it was created and is in compliance with the City's policy on tax abatement incentives and the ordinance creating the Enterprise Zone adopted by the City of Paris, Texas, and all applicable laws;" [Emphasis added.]; and WHEREAS, paragraph 5.1 of said Agreement provides, to wit: "5.1 The Owner agrees and covenants that it will diligently and faithfully, in a good and workmanlike manner, pursue the completion of the Improvements described in Sections III and IV, above ... As good and valuable consideration for this AGREEMENT, Owner further covenants and agrees that all construction of the Improvements will be in accordance with all applicable state and local laws, codes and regulations, or Owner will procure a valid waiver thereof. In further consideration, Owner shall thereafter, from the date a Certificate of Occupancy is issued or the Improvements are completed as agreed, until the expiration of this AGREEMENT, continuously operate and maintain the real