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<br />h) that property tax revenue lost as a result of the tax abatement agreement will be <br />recaptured by the City if the owner of the property fails to make the improvements <br />or repairs as provided by the agreement; <br /> <br />i) each term agreed to by the owner of the property; <br /> <br />j) a requirement that the owner of the property shall certify annually to the City Council <br />that the owner is in compliance with each applicable term of the agreement; <br /> <br />k) contractual obligations in the event of default, violation of terms or conditions, <br />delinquent taxes, recapture, administration and assignment, or other provisions that <br />may be required by state law, or in the discretion of the City Council; and <br /> <br />I) that the City Council may cancel or modify the agreement if the property owner fails <br />to comply with the agreement. <br /> <br />Section 7. That if any section, paragraph, clause, or provision of this Ordinance shall, for <br />any reason, be held to be invalid or unenforceable, the invalidity or unenforceability of such section, <br />paragraph, clause, or provision shall not affect any of the remaining provisions of this Ordinance. <br /> <br />Section 8. That it is hereby found, determined, and declared that a sufficient notice of the <br />date, hour, place, and subject of the meeting of the City Council at which this Ordinance was adopted <br />was posted at a place convenient and readily accessible at all times as required by the Open Meetings <br />Act, V.T.C.A., Government Code, Chapter 551. <br /> <br />Section 9. That this Ordinance shall take effect immediately from and after its passage by <br />the City Council. <br /> <br />PASSED AND ADOPTED this 8th day of May, 2006 by the City Council of the City of <br />Paris, Paris, Texas. <br /> <br />Curtis Fendley, Mayor <br /> <br />ATTEST: <br /> <br />Janice Ellis, City Clerk <br /> <br />APPROVED AS TO FORM: <br /> <br />John D. Lestock, Assistant City Attorney <br />