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<br />DRAFT <br /> <br />F:ATTORNEY\RESWORK\CURRENT\ Tax Abatement Guidelines and Criteria Res <br />December 5, 2005 <br /> <br />RESOLUTION NO. <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, <br />PARIS, TEXAS, ESTABLISHING GUIDELINES AND CRITERIA <br />GOVERNING TAX ABATEMENT INCENTIVES WITHIN THE CITY OF <br />PARIS AND ITS EXTRATERRITORIAL JURISDICTION; MAKING <br />OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND <br />PROVIDING AN EFFECTIVE DATE. <br /> <br />WHEREAS, the City Council of the City of Paris desires to promote economic <br />development within the corporate limits of the City of Paris and within its extraterritorial <br />jurisdiction; and <br /> <br />WHEREAS, the provision of certain economic development incentives may encourage <br />prospective businesses and companies to locate within such corporate limits or extraterritorial <br />jurisdiction or existing businesses and companies located therein to expand; and, <br /> <br />WHEREAS, the establishment of specific guidelines, criteria, and procedures are <br />necessary to insure that tax abatement incentives are given and administered effectively; and, <br /> <br />WHEREAS, the adoption of guidelines and criteria are required by state law before an <br />area may be established as a reinvestment zone; NOW THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, <br />TEXAS: <br /> <br />Section 1. That the findings set out in the preamble to this resolution are hereby in all <br />things approved. <br /> <br />Section 2. That the City of Paris hereby establishes certain guidelines and criteria, <br />attached hereto as Exhibit A, governing tax abatement incentives within the City of Paris and <br />its extraterritorial jurisdiction, and such guidelines and criteria shall expressly govern all <br />subsequent tax abatement agreements in the City of Paris and its extraterritorial jurisdiction. <br /> <br />Section 3. That such guidelines and criteria shall be effective for two (2) years from the <br />date of adoption and may only be amended or repealed by a vote of three-fourths vote of the <br />City council. <br /> <br />Section 4. That this resolution shall be effective from and after its date of passage. <br /> <br />o~ <br /> <br />'TO_. 0000' <0. <_",_,_--,_'__",0__0'__<""'" ""'_"'__""""""0'"_'_0 0' """,0_""""",_0,, -r <br />