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Government Organization The City was founded in 1839 with the current charter adopted in November of 1948 and last revised in 2022. The City operates under the Council/Manager form of government with 7 council members elected from single member districts. The Mayor is elected by the Council itself to serve as moderator of the group. The Council members can serve a maximum of three consecutive 2 -year staggered terms. The Mayor and Council appoint the City Manager, the City Attorney, and the Municipal Judge. The City is a Home Rule City with all powers granted to home rule cities by the constitution and laws of the State of Texas. The Council enacts legislation, adopts budgets, and determines policies of the City of Paris. The City Manager executes the laws and administers the government of the City. Economic Condition and Outlook Taxable values, as originally certified by the Lamar County Appraisal District, for fiscal year 2025-26 reflect a 4.71% increase over the 2024-25 values. Building permits for new residential and commercial constriction were valued at $70,034,252 for fiscal year 2024-25. This activity will be reflected in next year's taxable values. Sales taxes for 2024-25 increased from the prior year by 5.30%. Sales taxes for 2025-26 on a cash basis were 11.6% above the 2024-25 level as of January 31, 2026. Hotel occupancy taxes were down 7.03% compared to 2023-24. This decrease was driven by the closure of one hotel due to a remodel. Franchise fees for 2024-25 were up 1.01% compared to the previous year. This is an immaterial amount. The City of Paris, Paris Economic Development Corporation, and the Lamar County Chamber of Commerce have been actively recruiting new business to the area as well as supporting already existing businesses. PEDC has several active incentive commitments in regard to its recruitment of new industry and support of existing industry. There are currently incentives totaling $1,060,654 involving Lions Head, Universal Fabricating, Rodgers -Wade, and Ametsa. General Fund receipts equaled 110.91% of the budget. General Fund expenditures were 103.12% of the budget. For the 2025- 26 fiscal year, the City Council adopted a tax rate of .47239 cents per $100 of value. This rate is $0.01119 cents higher than the previous year and allows maintenance of all services at their current levels and funds all required interest and sinking funds. Taxable property value increased 4.74%. Long-term Financial Planning -and Relevant Financial Policies The City continues to exercise its long-range financial plan. The City forinalized a key financial policy in 2010 that had been informally followed previously: a utility rate maintenance policy. The utility rate maintenance policy will help assure the financial integrity of the enterprise fund along with its related interest and sinking funds. Another policy was formalized in 2013 in the form of a reserve level guideline for both the general fund and utility fund. Adequate reserve levels provide the City with the ability to deal with extraordinary events and maintain its credit worthiness. This credit worthiness, as reflected in the current financial statements, allowed the City to obtain very favorable interest rates on debt issued from 2016 through 2025. Major Initiatives The City continues to work on its long-range plan to maintain its infrastructure. The City called for a general obligation bond election in May 2013 in the amount of $45,000,000 which passed overwhelmingly. Proceeds from these bonds were used for 1-3