1990-040-RES WHEREAS, the enhancement of the local economy best interest of the citizens of Paris, Texas; and

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(v) the proposed project's effect on the safety, health and morals of the City's residents; and (vi) whether the proposed project:will have any substantial long-term adverse effect on the provision of the City's services or its tax base. (g) Economic Qualification. In order to be eligible to receive tax Abatement, the planned improvements: ( i) must be reasonably expected to increase the appraised value of the property; AND (ii) must be expected to prevent the loss of employment, retain or create employment on a permanent full-time basis in the city during the. term of the Agreement; AND (iii) . should not be expec~ed to solely. or primarily have the effect of merely transf~rring existing employment from one part of the city to another without demonstration of increased future investment (Dollars or Jobs) or unusual circumstances whereby without such a move employment is likely to be reducea; AND (iv) must be necessary because capacity cannot be -provided efficiently utilizing existing improved property when reasonable allowance is made for neces- sary improvements or relevant governmental actions. (h) Taxability. During the term of the Agreement, taxes shall be payable as follows: ( i) the Base Year Value of eligible property as determined each year shall be fully taxable; and (ii) the additional value of eligible property shall be taxable in the manner described in the Agree- ment. The Chief Appraiser of the County shall annually determine an assessment of the real and personal property com- prising the Reinvestment Zone. Each year, the company or indi- vidual receiving Abatement pursuant to an Agreement shall furnish the assessor with such information as may be necessary to deter- mine the amount of any Abatement. Once such value has been established, the Chief Appraiser shall notify the affected jurisdictions which levy taxes on such property. jmw3:373ajcgl 041090-1 -4-