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of adoption and may only be amended or repealed by a vote of three-fourths vote of the City council.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