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<br />RESOLUTION NO. 2004-164 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, <br />PARIS, TEXAS, ELECTING TO BECOME ELIGIBLE TO PARTICIPATE <br />IN TAX ABATEMENT AGREEMENTS AS AUTHORIZED UNDER THE <br />PROPERTY REDEVELOPMENT AND TAX ABATEMENT ACT, AS <br />AMENDED; DIRECTING THE CITY MANAGER TO DEVELOP <br />GUIDELINES AND CRITERIA TO GOVERN ALL TAX ABATEMENT <br />AGREEMENTS WITH THE CITY OF PARIS; MAKING OTHER FINDINGS <br />AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN <br />EFFECTIVE DATE. <br /> <br />WHEREAS, the City Council of the City of Paris desires to promote economic development <br />within Paris; and, <br /> <br />WHEREAS, the creation of certain reinvestment zones for tax abatement purposes within <br />the City of Paris and its extraterritorial jurisdiction, especially within the City's enterprise zone area, <br />will likely contribute to the economic development of Paris by encouraging major investment and <br />the creation of jobs; and, <br /> <br />WHEREAS, the passage of Senate Bill 1225 (70th Legislature) amended the Property <br />Redevelopment and Tax Abatement Act to allow cities to establish their own local criteria for the <br />designation of reinvestment zones for tax abatement purposes; 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 of Paris does hereby elect to become eligible to participate in tax <br />abatement agreements as authorized under the Property Redevelopment and Tax Abatement Act, <br />Chapter 312 of the Texas Tax Code, as amended. <br /> <br />Section 3. That the City Manager shall develop guidelines and criteria to govern all tax <br />abatement agreements with the City of Paris as required by the Property Redevelopment and Tax <br />Abatement Act, as amended. <br /> <br />Section 4. That this resolution shall be effective from and after its date of passage. <br /> <br />PASSED AND ADOPTED this 22nd day of sePtem~e(, 2004. 7 <br /> <br /> <br /> <br />" <br /> <br /> <br />.) <br />