|
<br />RESOLUTION NO. 98-075
<br />
<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-[], authorize the execution of the First Amendment to Tax Abatement
<br />Agreement for Reinvestment Zone No. Four granting an option to extend said agreement for an
<br />additional two (2) year period expiring on December 31, 2000; and,
<br />
<br />WHEREAS, Campbell Soup Company, having sold its two-piece can manufacturing
<br />operation, has assured the purchaser thereof, Silgan Can Company, that it will make its best effort
<br />to procure assignment of the tax abatement agreement upon the assurance by Silgan Can Company
<br />of the retention of all existing jobs and the continuation all other obligations under said agreement;
<br />and,
<br />
<br />WHEREAS, Silgan Can Company has expressed its agreement to comply with the
<br />obligations under the tax abatement agreement; therefore, it is deemed appropriate that the City
<br />of Paris permit the assignment of said agreement thereto; and,
<br />
<br />WHEREAS, the form of the Assignment of Tax Abatement Agreement from Campbell
<br />Soup Company to Silgan Can Company, attached hereto as Exhibit A, should, in all things be
<br />approved, and the Mayor, Charles H. Neeley, should be authorized to acknowledge approval of
<br />said assignment by signing the same; NOW, THEREFORE,
<br />
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the
<br />form of the Assignment of Tax Abatement Agreement from Campbell Soup Company to Silgan
<br />Can Company, 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 acknowledge approval, on behalf of the City of Paris, of the
<br />Assignment of Tax Abatement Agreement from Campbell Soup Company to Silgan Can Company
<br />by signing the same in the form shown in Exhibit, attached hereto.
<br />
|