20-21 - Tax Increment Reinvestment Zone 1 - five to seven directors and amend Bylaws

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ORDINANCE NO. AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, AMENDING ORDINANCE NO. 2019-045 TO ENLARGE THE BOARD OF DIRECTORS OF TAX INCREMENT REINVESTMENT ZONE NO.1 FROM FIVE (5) DIRECTORS TO SEVEN (7) DIRECTORS; PROVIDING A REPEALER CLAUSE; PROVIDING A SEVERABILITY CLAUSE; PROVIDING A SAVINGS CLAUSE; AND DECLARING AN EFFECTIVE DATE. WHEREAS, on November 11, 2019, the City Council of the City of Paris enacted Ordinance No. 2019-045 designating a certain area as Tax Increment Reinvestment Zone No. 1(the "Zone" or "TIRZ No. 1" as authorized by the Tax Increment Financing Act, Chapter 311 of the Texas Tax Code (the "Act"); and WHEREAS, Section 4 of said ordinance established a board of directors for the Zone consisting of five (5) members (the "Board"); and WHEREAS, at its July 11, 2024, meeting, the Board voted unanimously to recommend to City Council to enlarge the Board from five (5) members to seven (7) members in order to have greater representation from the community in determining the direction of the Zone and future expenditure of the Zone fund; and WHEREAS, the City Council, having considered the recommendation of the Board finds that enlarging the Board from five (5) to seven (7) members will provide the opportunity for greater representation from the community in determining the direction of the Zone and future expenditure of the Zone fund, and will also make the number of Board positions consistent with other boards and commissions of the city; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble to this ordinance are hereby in all things approved and incorporated herein for all purposes. Section 2. That City Ordinance No. 2019-045, Section 4 shall be amended to read as follows: "Section 4. That there is hereby established a board of directors for the Zone that shall consist ofseven members... . "a) F-�ve seven members shall be appointed by the City Council of the City of Paris. ..." Section 3. That the remainder of Section 4, shall remain as currently written.