1989-129-RES WHEREAS, TEXAS DEPARTMENT OF COMMERCE DESIGNATED PARIS ENTERPRISE ZONE ON JUNE 1, 1989

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RESOLUTION NO. 89-129 WHEREAS, the Texas Depar tment of Commerce des ignated the Paris Enterprise Zone on June 1, 1989; and, WHEREAS, the Texas Department of Commerce will consider Campbell Soup (Texas) Inc., as an enterprise project pursuant to a nomination and an application made by the City of Paris, Paris, Texas; and, WHEREAS, the City of Paris desires to pursue the creation of the proper economic and social environment in order to induce the inves tment of pr i vate resources in produc t i ve bus iness enter- prises located in the Paris Enterprise Zone and to provide employment to residents of the Paris Enterprise Zone and to other economically disadvantaged individuals; and, WHEREAS, pursuant to Section 10 of the Texas Enterprise Zone Act, Texas Revised Civil Statutes Annotated Article 5190.7, Campbell Soup (Texas) Inc., has applied to the City of Paris for designation as an enterprise project; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, That, the City of Paris finds that Campbell Soup (Texas) Inc., meets the criteria for designation as an enterprise project under Section 10(c) of the Texas Enterprise Zone Act on the following grounds: 1. Campbell Soup (Texas) Inc., is a "qualified business" under Section 3(a)(9) of the Texas Enterprise Zone Act since it will be engaged in the active conduct of a trade or business in the Paris Enterprise Zone and at least twenty-five percent (25/0) of the business employees will be residents of a Paris Enterprise Zone within the City of Paris's jurisdiction or economically disadvantaged individuals; 2. Campbell Soup (Texas) Inc., is located in the Paris Enterprise Zone which has an unemployment rate of 10.6/0, which is more than one and one-half (It) times the state unemployment rate of 6.9% as supplied by the Texas Employment Commission dated October 4, 1989; 3. There has been and will continue to be a high level of cooperation between public, private, and neighborhood entities within the Paris Enterprise Zone; and, 4. The designation of Campbell Soup (Texas) Inc., as an enterprise project will contribute significantly to the achievement of the plans of the City of Paris for development and revitalization of the Paris Enterprise Zone. BE IT FURTHER RESOLVED, That the City of Paris finds that Campbell Soup (Texas) Inc., meets the criteria for tax relief and other incentives adopted by the City of Paris and nominates Campbell Soup (Texas) Inc., on the grounds that it wi 11 be