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<br />RESOLUTION NO. 98-077 <br /> <br />WHEREAS, the Commissioners Court of Lamar County, Texas did heretofore, on the 8th <br />day of June, 1998, create Reinvestment Zone Number 1998-1, which said Zone is located within <br />the extraterritorial jurisdiction of the City of Paris; and, <br /> <br />WHEREAS, the City Council of the City of Paris, Paris, Texas, desires to promote <br />economic development within the corporate limits of the City of Paris and within its <br />extraterritorial jurisdiction by the creation of a reinvestment zone for commercial and industrial <br />tax abatement, as authorized by the Property Redevelopment and Tax Abatement Act, as amended; <br />and <br /> <br />WHEREAS, the provision of certain economic development incentives may encourage <br />prospective businesses and companies to locate within such corporate limits or extraterritorial <br />jurisdiction or existing businesses and companies located therein to expand; and, <br /> <br />WHEREAS, it is deemed appropriate that the City of Paris approve the creation by the <br />County of Lamar of Reinvestment Zone Number 1998-1; NOW THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the <br />creation by the County of Lamar of Reinvestment Zone Number 1998-1 be, and the same is <br />hereby, approved; and, <br /> <br />BE IT FURTHER RESOLVED, that the City of Paris does hereby elect to become <br />eligible to participate in tax abatement agreements in said Reinvestment Zone Number 1998-1 as <br />authorized under the Property Redevelopment and Tax Abatement Act, as amended. <br /> <br />PASSED AND ADOPTED this 8th day of June, 1998. <br /> <br />tiJA <br /> <br />Charles H. Neeley, Mayor <br /> <br /> <br />ATTEST: <br /> <br /> <br />Mattie Cunningham, City Clerk <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />Scott P. Foster, City Attorney <br />