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<br />RESOLUTION NO. 93-030 <br /> <br />WHEREAS, the City Council of the City of Paris, desires <br />to promote economic development within the corporate limits <br />of the City of Paris or within the extraterritorial <br />jurisdiction of said city; and <br /> <br />WHEREAS, the provision of certain economic development <br />incentives may encourage prospective businesses and companies <br />to locate within such corporate limits or extraterritorial <br />jurisdiction or existing businesses and companies located <br />therein to expand; and, <br /> <br />WHEREAS, the establishment of specific guidelines, <br />criteria, and procedures are necessary to insure that tax <br />abatement incentives are given and administered effectively; <br />and, <br /> <br />WHEREAS, the adopt ion of gu idelines and cd ter ia are <br />required by state law before an area may be established as a <br />reinvestment zone; NOW THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, <br />PARIS, TEXAS: <br /> <br />1. That the City of Paris hereby establishes certain <br />guidelines and criteria governing tax abatement incentives <br />within that portion of the City of Paris described in <br />Reinvestment Zone Number Four attached hereto as Exhibit A, <br />and such guidelines and criteria shall expressly govern all <br />subsequent tax abatement agreements in said Zone. <br /> <br />2. That such guidelines and criteria shall be <br />effective for two (2) years from the date of adoption and may <br />only be amended or repealed by a vote of three-fourths vote <br />of the City council. <br /> <br />Passed and adopted this 15th day of March, 1993. <br /> <br />~~ <br /> <br />G r~'sher, Mayor <br /> <br />ATTEST: <br /> <br />Mattie Cunningham, CI <br /> <br /> <br />APPROVED AS TO FORM: <br />, <br /> <br />3 <br /> <br /> <br />. CIty Attorney <br />