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<br />RESOLUTION NO. 98-085 <br /> <br />WHEREAS, the City Council of the City of Paris did heretofore, on the 8th day of June, <br />1998, pass Resolution No. 98-074, which said Resolution and Exhibit A thereto should be <br />amended; NOW, THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that <br />Resolution No. 98-074, be, and the same are hereby, amended so that such shall read as follows: <br /> <br />"WHEREAS, the City Council of the City of Paris did heretofore, on the <br />17th day of May, 1993, in Resolution No. 93-051, authorize the execution, <br />delivery, and performance of an agreement with Campbell Soup Company, <br />pursuant to the Property Redevelopment and Tax Abatement Act, V.T.C.A., Tax <br />Code Sec. 312.001, et seq. ("Act"), and the Guidelines and Criteria for <br />Designation of Reinvestment Zones and Tax Abatement Agreements <br />("Guidelines"), to exempt a portion of the value of the property owned by <br />Campbell Soup Company located in Reinvestment Zone No. Four from ad valorem <br />taxation upon and subject to the terms, conditions, and provisions set forth in the <br />Tax Abatement Agreement, dated effective as of April 12, 1993 ("Agreement"); <br />and, <br /> <br />"WHEREAS, pursuant to the Agreement, the term of the tax abatement <br />granted therein began with the tax year beginning January 1, 1994, and expires on <br />December 31, 1998, subject to the option to extend for an additional two (2) year <br />period expiring on December 31, 2000; and, <br /> <br />"WHEREAS, Campbell Soup Company is desirous of exercising the option <br />to extend the period of tax abatement under the Agreement to December 31, 2000; <br />and, <br /> <br />"WHEREAS, Section 312.208(a) of the Act and the Guidelines adopted by <br />the City each provide that a tax abatement agreement may be modified by the <br />parties thereto by the same procedure by which the original agreement was <br />approved and executed; and, <br /> <br />"WHEREAS, the City and Campbell Soup Company now desire to amend <br />the Agreement in accordance with the Act and the Guidelines to provide for <br />extension of the period of tax abatement under the Agreement to December 31, <br />2000; NOW, THEREFORE, <br /> <br />"BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />PARIS: <br /> <br />"1. That the City Council hereby finds and determines that the terms of <br />