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<br />(a) Findinos. Based upon the representations made by Unit, Department hereby <br />reaffirms previous findings that the zone area meets the criteria for designaHon as an <br />enterprise zone as set forth in the Act. <br /> <br />(b) Desionation of Enterprise Zone. Department hereby designates the area <br />described in Exhibit A and Exhibit B attached hereto as an enterprise zone. known as The Paris <br />Enterprise Zone, sometimes referred to herein as the Zone. <br /> <br />I c) Period of Zone Desionation. The Zone shall take effect on June 1. 1989. and <br />terminate on September 1, 1996, unless otherwise specifically provided by the terms of this <br />Agreement. Department may remove the designation, following a public hearing, if the area no <br />longer meets the criteria for designation as set out in the Act or by Department rule or if <br />Department determines that the governing body has not complied with commitments made in the <br />nominating resolution. <br /> <br />(d) Zone Liaison. Unit has designated its Director of Community Development as <br />liaison to communicate and negotiate with Department, enterprise projects, Qualified <br />Businesses, and other entities in or affected by the Zone. <br /> <br />Ie) Data Submitted. Unit further represents that the data provided to Department <br />is accurate and current as of the date of application; and that there has been no material adverse <br />change in the affairs of Unit. <br /> <br />2. PERFORMANCE. Unit represents and warrants that it will provide all tax relief and <br />other incentives or benefits described in its application for zone designation including, but not <br />limited to the following: <br /> <br />Unit shall refund to any qualified business located in such enterprise zone the amount of tax paid <br />under the Municipal Sales and Use Tax Act, TEXAS TAX CODE Chapter 321, by the business and <br />remitted to the Comptroller of Public Accounts to the extent authorized by TEXAS TAX CODE, <br />Section 321.508 for a period of five years from the date Department certifies the entity as a <br />qualified business under the Act. <br /> <br />3. REPORTING REQUIREMENTS. Unit shall submit to Department no later than March 1 of <br />each year an annual report of the progress, in narrative form, of activities within the Zone. <br />This report shall be in a format prescribed by Department and shall include the information <br />specified in Section 23 of the Act. If such report is not received by the deadline, Department <br />may, following a public hearing, consider termination of the designation of the zone. <br /> <br />4. MONrrORING. (a) Unit shall furnish additional information, reports or statements <br />as Department may from time to time request in connection with this Agreement. In order to <br />verify data relating to employment and purchases of equipment. machinery or building <br />materials sold to an enterprise project, Unit and Qualified Businesses must permit on <br />reasonable notice a representative of Department, State Auditor or State Comptroller's Office to <br />inspect the books. records, and properties of Unit and of each Qualified Business at reasonable <br />times and to make copies and abstracts of such books and records and any documents relating to <br />such data. Unit shall include the substance of this section in all agreements with Qualified <br />Businesses executed under the provisions of the Act. <br /> <br />( b ) After each monitoring visit, Department shall provide Unit with a written report <br />of the monitor's findings within sixty (60) days. If the monitoring reports note deficiencies in <br />Unit's performance, the report shall include requirements for timely correction of such <br /> <br />Page 2 of 5 <br />