1990-039-RES WHEREAS, by Resolution duly adopted by the City of the City of Paris, Paris, Texas on May 10, 1990

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RESOLUTION NO. 90-039 WHEREAS, by Resolution duly adopted by the City Council of the City of Paris, Paris, Texas on May 10, 1990, the City elec ted to par t ic i pa te in tax aba temen t in accordance wi th the Property Redevelopment and Tax Abatement Act, V.T.C.A., Tax Code ~312.001 et.seq.; and adopted Guidelines and Criteria for Designation of Reinvestment Zones and Tax Abatement Agreements; and, WHEREAS, the Texas Department of Commerce authorized and approved the creation and designation of the Paris Enterprise Zone, including among other property the real property described in Exhibit A attached hereto, pursuant to the Agreement for Designation of an Enterprise Zone, dated June 1, 1989, by and between the Texas Department of Commerce and the City of Paris; and, WHEREAS, Section 312.2011 of the Property Redevelopment and Tax Abatement Act, V.T.C.A., Tax Code ~ 312.001 et.seq. prov ides that des igna t ion of an ar ea as an en terpr i se zone under the Texas Enterprise Zone Act constitutes designation of the area as a reinvestment zone under the Property Redevelopment and Tax Abatement Act, V.T.C.A., Tax Code ~ 312.001 et.seq., without further hearing or other procedural requirements or other designation; and, WHEREAS, by Ordinance No. 89-036 duly adopted by the City Council of the City of Paris, Paris, Texas, on October 2, 1989, the City established and designated Reinvestment Zone No. One, encompassing the real property described in Exhibit A attached hereto for purposes of the Tax Increment Financing Act and the Property Redevelopment and Tax Abatement Act, V.T.C.A., Tax Code ~ 312.001 et.seq.; and, WHEREAS, Campbell Soup Company owns certain real property in the City of Paris, located within Reinvestment Zone No. One, on which Campbell Soup Company has constructed and is currently operating a prepared food manufacturing plant and related facilities; and, WHEREAS, the existing facilities are leased by Campbell Soup Company to and operated by Campbell Soup (Texas) Inc., a wholly-owned subsidiary of Campbell Soup Company; and, WHEREAS, Campbell Soup Company proposes to mod ify and improve the existing facilities by the construction and installation of certain improvements which Campbell Soup Company anticipates will increase the efficiency of the facilities, thereby facilitating the maintenance of current employment positions at the facilities, and creating approximately 50 additional full-time employment positions; and, WHEREAS, the Campbell Soup Company and Campbell Soup (Texas), Inc. s ubmi t ted an appl ica t ion for tax abatement to the City in accordance with the Guidelines and Criteria for Designation of Reinvestment Zones and Tax Abatement Agreements; and,