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<br />RESOLUTION NO.
<br />
<br />2003-113
<br />
<br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
<br />PARIS, TEXAS, AUTHORIZING THE EXECUTION OF THE FIRST
<br />AMENDMENT TO THE TAX ABATEMENT AGREEMENT BETWEEN
<br />THE CITY OF PARIS AND H-W COMMERCIAL WAREHOUSE, INC.
<br />DATED APRIL 13, 1998, ASSIGNED TO PARIS WAREHOUSE 107, INC.
<br />ON FEBRUARY 8, 1999; MAKING OTHER FINDINGS AND PROVISIONS
<br />RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE.
<br />
<br />WHEREAS, the City Council of the City of Paris, Paris, Texas, did heretofore, on the
<br />13th day of April, 1998, in Resolution No. 98-046, authorize the execution, delivery, and
<br />performance of an agreement with H - W Commercial Warehouse, Inc., pursuant to the Property
<br />Redevelopment and Tax Abatement Act, V.T.C.A., Tax Code Sec. 312.001, etseq. ("Act"), and
<br />the Guidelines and Criteria for Designation of Reinvestment Zones and Tax Abatement
<br />Agreements ("Guid elines"), to exempt a portion of the value of the property owned by H-W
<br />Commercial Warehouse, Inc. located in Reinvestment Zone No. Five from ad valorem taxation
<br />upon and subject to the terms, conditions, and provisions set forth in the Tax Abatement
<br />Agreement, dated effective as of January 1, 1999 ("Agreement"); and,
<br />
<br />WHEREAS, during the course of negotiations for financing, H-W Commercial
<br />Warehouse, Inc. transferred ownership of the property the subject of the abatement to Paris
<br />Warehouse 107, Inc., which companies have common ownership, and the City Council did
<br />heretofore, on the 8th day of February, 1999, in Resolution No. 99-018, authorize the execution
<br />of the Consent of Assignment of Tax Abatement Agreement from H-W Commercial Warehouse,
<br />Inc. to Paris Warehouse 107, Inc.; and,
<br />
<br />WHEREAS, Section VIII of said Tax Abatement Agreement provides an option for a two
<br />(2) year extension of the term of said Agreement, and Paris Warehouse 107, Inc. has certified that
<br />it is in compliance with the terms of said Agreement and has requested such extension; and,
<br />
<br />WHEREAS, the form of the First Amendment to Tax Abatement Agreement, attached
<br />hereto as Exhibit A, should, in all things be approved, and the Mayor should be authorized to
<br />execute the same; NOW, THEREFORE,
<br />
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS,
<br />TEXAS:
<br />
<br />Section 1. That the findings set out in the preamble to this resolution are hereby in all things
<br />approved.
<br />
<br />Section 2. That the City Council of the City of Paris, Paris, Texas, hereby fmds and
<br />determines that the terms of the First Amendment to Tax Abatement Agreement for Reinvestment
<br />Zone No. Five, the form of which is attached hereto as Exhibit A, meet the criteria for tax
<br />abatement as set forth in the Act and in the Guidelines adopted by the City of Paris.
<br />
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