1998-043-RES WHEREAS, CITY COUNCIL DESIRES TO PROMOTE

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~ "'1 ... . , " , RESOLUTION NO. 98-043 WHEREAS, the City Council of the City of Paris, Paris, Texas, desires to promote the development or redevelopment of a certain contiguous area within its jurisdiction by designating it a reinvestment zone to be known as Reinvestment Zone Number 5; and, WHEREAS, the City has preliminarily determined that the area described by the metes and bounds description attached hereto as Exhibit A and depicted on the plat attached hereto as Exhibit B meets the criteria for a reinvestment zone under the Property Redevelopment and Tax Abatement Act, as amended; and, WHEREAS, the Act further requires that, prior to the adoption of the ordinance providing for the establishment of a reinvestment zone to promote development or redevelopment within such zone thrQugh the use of tax abatement, the City Council must hold a public hearing on the adoption of the proposed Reinvestment Zone Number 5, find that the improvements sought are feasible and practical and would be of benefit to the land to be included in the zone and to the community, and provide interested persons the opportunity to speak and present evidence for or against the designation; and, WHEREAS, the City desires, by the calling and holding of such public hearing, to provide a reasonable opportunity for any owner of property located within the proposed zone, any other taxing districts, and any other interested persons to speak for or against the creation of the proposed reinvestment zone or the inclusion of any property therein; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS: 1. That a public hearing shall be held at 6:00 p.m. on April 9, 1998, in the City Council Chambers of the City Hall located at 135 1st Street S.E., Paris, Lamar County, Texas, at which time any interested person may appear and speak for or against the creation of the proposed Reinvestment Zone No.5, whether all or part of the territory described in the metes and bounds description attached hereto as Exhibit A and depicted on the plat attached hereto as Exhibit B should be included in such proposed reinvestment zone, and the concept of offering tax abatement or other economic incentives, if any. 2. That notice of such public hearing shall be published in the official newspaper of the City of Paris at least seven (7) days prior to the date of such hearing and that written notice of such hearing, along with a copy of this resolution, shall be delivered to the presiding officer of the governing body of each taxing unit that includes in its boundaries real property that is to be included in the proposed reinvestment zone. A notice shall be presumed delivered when placed in the mail postage paid and properly addressed to the appropriate presiding officer. Any notice properly addressed and sent by registered or certified mail for which a return receipt is received by the sender is considered to have been delivered. ATTEST: ~~,~~~~- Mattie Cunningham, City Clerk APPROVED AS TO FORM: -