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2011-026 ORD PARTICIPATING IN THE TEXAS ENTERPRISE ZONE PROGRAM UNDER CH 2303
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2011-026 ORD PARTICIPATING IN THE TEXAS ENTERPRISE ZONE PROGRAM UNDER CH 2303
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11/20/2017 3:24:59 PM
Creation date
8/17/2011 9:58:11 AM
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CITY CLERK
Doc Type
Ordinance
CITY CLERK - Date
8/8/2011
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business site and will retain jobs and increase economic activity and stability. As required by <br />Section 2303.4051(c)(2) of the Act, the City's local incentives, including tax incentives, that at the <br />election of the City Council, are or will be made available to Kimberly-Clark, the nominated project, <br />are identified and summarized in the attached Exhibit "B". <br />Section 7. Upon approval by the Bank, the Double Jumbo Enterprise Project will be <br />named KIMBERLY-CLARK CORPORATION PROJECT ("Project"). <br />Section B. The Enterprise Project designation must be for a predetermined designation <br />period approved by the Bank, with a beginning date and ending date for the Project; and the <br />designation period for the Project may not exceed five (5) years from the date on which the <br />designation is made, as required by Section 2303.404 of the Act. Kimberly-Clark and the City <br />request that the Bank approve April 28, 2011, as the beginning date and September 1, 2016, as the <br />ending date of the Project. <br />Section 9. The enterprise zone areas within the City are reinvestment zones in <br />accordance with the Texas Tax Code, Chapter 312. <br />Section 10. The Paris areas that meet the 2003 requirements in Section 2303.101 of the <br />Act for automatic qualification for designation as an enterprise zone are shown in the attached <br />Exhibit "C". <br />Section 11. That the City Council voted by a supermajority vote of the entire Council to <br />suspend the rule requiring two readings before adoption of ordinances 6 ayes and 0 nays. <br />Section 12. That this ordinance shall be effective following passage and publication as <br />required by law. <br />PASSED, APPROVED, AND ADOPTED this 8th day of AuQusr 2011 <br />TTEST: <br />. . <br />nice Ellis, City Clerk <br />APPROVED AS TO FORM: <br />W. Kent McIlya , ' Attorney <br />
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