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<br />RESOLUTION NO. 98-084
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 9th day of
<br />November, 1992, in Resolution No. 92-091, authorize the execution, delivery, and performance
<br />of an agreement with Kimberly-Clark Corporation, pursuant to the Property Redevelopment and
<br />Tax 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 Kimberly-Clark Corporation located
<br />in Reinvestment Zone No. Two-A from ad valorem taxation upon and subject to the terms,
<br />conditions, and provisions set forth in the Tax Abatement Agreement, dated effective as of
<br />November 9, 1992 ("Agreement"); and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 8th day of
<br />December, 1997, in Resolution No. 97-145, authorize the execution of the First Amendment to
<br />Tax Abatement Agreement which granted the option to extend said agreement for an additional
<br />two (2) year period expiring on December 31, 2000; and,
<br />
<br />WHEREAS, Kimberly-Clark Corporation has recently completed installation of and has
<br />placed in production machine P18, which accounts for approximately one-half (1/2) of the fifty
<br />(50) new, permanent jobs created under the terms of the Tax Abatement Agreement, and it is
<br />deemed appropriate that said Agreement be amended to change the date of completion of machine
<br />P18; and,
<br />
<br />WHEREAS, Section 312.208(a) of the Act and the Guidelines adopted by the City each
<br />provide that a tax abatement agreement may be modified by the parties thereto by the same
<br />procedure by which the original agreement was approved and executed; and,
<br />
<br />WHEREAS, the City and Kimberly-Clark Corporation now desire to amend the
<br />Agreement in accordance with the Act and the Guidelines to change the completion date of
<br />machine P18; NOW, THEREFORE,
<br />
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS:
<br />
<br />1. That the City Council hereby finds and determines that the terms of the Second
<br />Amendment to Tax Abatement Agreement for Reinvestment Zone No. Two-A, the form of which
<br />is attached hereto as Exhibit A, meet the criteria for tax abatement as set forth in the Act and in
<br />the Guidelines adopted by the City of Paris.
<br />
<br />2. That, pursuant to Section 312.208(a) of the Act, the City Council hereby authorizes the
<br />execution, delivery, and performance by the City of the Second Amendment to Tax Abatement
<br />Agreement with Kimberly-Clark Corporation in the form attached hereto as Exhibit A.
<br />
<br />3. That the Mayor ofthe City of Paris, Charles H. Neeley, be, and he is hereby, authorized
<br />and directed to execute, on behalf of the City of Paris, the Second Amendment to Tax Abatement
<br />
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