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<br />RESOLUTION NO. 98-086
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<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 17th day of May,
<br />1993, in Resolution No. 93-051, authorize the execution, delivery, and performance of an
<br />agreement with Campbell Soup Company, pursuant to the Property Redevelopment and Tax
<br />Abatement Act, V.T.C.A., Tax Code Sec. 312.001, et seq. ("Act"), and the Guidelines and
<br />Criteria for Designation of Reinvestment Zones and Tax Abatement Agreements ("Guidelines"),
<br />to exempt a portion of the value of the property owned by Campbell Soup Company located in
<br />Reinvestment Zone No. Four from ad valorem taxation upon and subject to the terms, conditions,
<br />and provisions set forth in the Tax Abatement Agreement, dated effective as of April 12, 1993
<br />("Agreement"); and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 8th day of June,
<br />1998, in Resolution No. 98-074, authorize the execution of the First Amendment to Tax
<br />Abatement Agreement for Reinvestment Zone No. Four granting an option to extend said
<br />agreement for an additional two (2) year period expiring on December 31, 2000; and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 8th day of June,
<br />1998, in Resolution No. 98-075, approve the partial assignment of said Agreement to Silgan Can
<br />Company; and,
<br />
<br />WHEREAS, Silgan Can Company has agreed, as consideration for the City of Paris
<br />approving said partial assignment, to retain all existing jobs, same being one hundred forty-six
<br />(146), and to the continuation all other obligations under said agreement; and,
<br />
<br />WHEREAS, the form of the Second Amendment to Tax Abatement Agreement, attached
<br />hereto as Exhibit A, should, in all things be approved, and the Mayor, Charles H. Neeley, should
<br />be authorized to execute the same; NOW, THEREFORE,
<br />
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the
<br />form of the Second Amendment to Tax Abatement Agreement Between the City of Paris and
<br />Campbell Soup Company dated May 17, 1993, Partially Assigned to Silgan Can Company on June
<br />8, 1998, attached hereto as Exhibit A, be, and the same is hereby, approved; and,
<br />
<br />BE IT FURTHER RESOLVED, that the Mayor, Charles H. Neeley, be, and he is
<br />hereby, authorized and directed to execute, on behalf of the City of Paris, the Second Amendment
<br />to Tax Abatement Agreement, under the terms and conditions and in the form shown in Exhibit
<br />A, attached hereto.
<br />
<br />PASSED AND ADOPTED this 29th day of June, 1998.
<br />
<br />~'f
<br />
<br />Charles H. Neeley, Mayor
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