|
<br />RESOLUTION NO. 2004-028
<br />
<br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
<br />PARIS, TEXAS, AUTHORIZING THE EXECUTION OF A CONSENT OF
<br />ASSIGNMENT OF THE TAX ABATEMENT AGREEMENT FROM SESACO
<br />CORPORATION TO SESAME SOLUTIONS, LLC; MAKING OTHER
<br />FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND
<br />DECLARING AN EFFECTIVE DATE.
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 12th day of
<br />March, 2001, authorize the execution, delivery, and performance of an agreement with Sesaco
<br />Corporation, pursuant to the Property Redevelopment and Tax Abatement Act, V.T.C.A., Tax
<br />Code Sec. 312.001, et seq. ("Act"), and the Guidelines and Criteria for Designation of
<br />Reinvestment Zones and Tax Abatement Agreements ("Guidelines"), to exempt a portion of the
<br />value of the property owned by Sesaco Corporation located in Reinvestment Zone No.9 from ad
<br />valorem taxation upon and subject to the terms, conditions, and provisions set forth in the Tax
<br />Abatement Agreement, dated effective as of January 1, 2002 ("Agreement"); and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 11th day of June,
<br />2001, in Resolution No. 2001-084, authorize the execution of Amendment No. One to Tax
<br />Abatement Agreement Between the City of Paris, Paris, Texas, and Sesaco Corporation Dated
<br />March 12, 2001, revising the terms of said Agreement; and,
<br />
<br />WHEREAS, during the course of the formation of a joint venture with T. J. Harkins
<br />Commodities, Sesaco Corporation transferred ownership of the property the subject of the
<br />abatement to Sesame Solutions, LLC, and it is deemed appropriate that the City of Paris consent
<br />to the assignment of the abatement agreement; and,
<br />
<br />WHEREAS, the form of the Consent of Assignment of Tax Abatement Agreement from
<br />Sesaco Corporation to Sesame Solutions, LLC, attached hereto as Exhibit A, should, in all things
<br />be approved, and the Mayor should be authorized to 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 form ofthe Consent of Assignment of Tax Abatement Agreement from
<br />Sesaco Corporation to Sesame Solutions, LLC, attached hereto as Exhibit A, be, and the same is
<br />hereby, approved.
<br />
|