2004-165-RES ESTABLISHING GUIDELINES AND CRITERIA GOVERNING TAX ABATEMENT INCENTIVES WITHIN THE CITY OF PARIS AND ITS EXTRATERRITORIAL JURISDICTION

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RESOLUTION NO. 2004-165 A RESOLUTION OF THE, CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, ESTABLISHING GUIDELINES AND CRITERIA GOVERNING TAX ABATEMENT INCENTIVES WITHIN THE CITY OF PARIS AND ITS EXTRATERRITORIAL JURISDICTION; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris desires to promote economic development within the corporate limits of the City of Paris and within its extraterritorial jurisdiction; and WHEREAS, the provision of certain economic development incentives may encourage prospective businesses and companies to locate within such corporate limits or extraterritorial jurisdiction or existing businesses and companies located therein to expand; and, WHEREAS, the establishment of specific guidelines, criteria, and procedures are necessary to insure that tax abatement incentives are given and administered effectively; and, WHEREAS, the adoption of guidelines and criteria are required by state law before an area may be established as a reinvestment zone; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the City of Paris hereby establishes certain guidelines and criteria, attached hereto as Exhibit A, governing tax abatement incentives within the City of Paris and its extraterritorial jurisdiction, and such guidelines and criteria shall expressly govern all subsequent tax abatement agreements in the City of Paris and its extraterritorial jurisdiction. Section 3. That such guidelines and criteria shall be effective for two (2) years from the date of adoption and may only be amended or repealed by a vote of three-fourths vote of the City council. Section 4. That this resolution shall be effective from and after its date of passage. PASSED AND APPROVED this 22nd day of September{{1.. .}14. /' iJ .. ".,. Curtis Fendley, Ma ~/ "";:-:~" ATTEST: