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WHEREAS, the City of Paris has, pursuant to Chapter 791 of the Texas Government
<br />Code, the Interlocal Cooperation Act, previously entered into an agreement styled Interlocal
<br />Agreement, Tax Trust Agreement, Limited Power of Attorney by and Among the City of Paris,
<br />Lamar County, Paris Independent School District, North Lamar Independent School District and
<br />Paris Junior College, whereby the other taxing entities have agreed to designate the City of Paris
<br />as Trustee for certain identified lots foreclosed for delinquent tax purposes for use in said
<br />program; and,
<br />WHEREAS, Section 277.001(g) of the Loca1 Government Code authorizes political
<br />subdivisions of the State of Texas to acquire or assemble interests in real property and sell,
<br />exchange, or otherwise convey said real property interests to individuals, corporations,
<br />partnerships, or other legal entities for the development of low or moderate income housing, on
<br />such terms and conditions and for such value as sha11 serve the public interest; and,
<br />WHEREAS, Section 253.010 of the Local Government Code authorizes municipalities
<br />to provide for the manner in which any real property acquired by a municipality may be sold or
<br />transferred to certain non-profit entities engaged in developing housing for low income individuals
<br />and families to promote community-based revitalization; and,
<br />WHEREAS, Section 253.011 of the Local Government Code authorizes municipalities
<br />to transfer real property, without the requirements of notice and bidding, to non-profit
<br />organizations in furtherance of a public purpose within the municipality; and,
<br />WHEREAS, Paris Living, a Community Development Corporation and a non-profit
<br />entity, has indicated an interest in participating in the aforesaid program for construction of new
<br />single family residential houses; and,
<br />WHEREAS, the City Council of the City of Paris, Texas, has previously adopted
<br />Resolution No. 2004-069, on April 12, 2004, authorizing and empowering the City to negotiate
<br />a contract (hereinafter referred to as the "Agreement") with Paris Living, Inc. for participation
<br />in the aforesaid program;
<br />NOW, THEREFORE, THESE PREMISES CONSIDERED, and in return for the
<br />consideration recited herein, the City of Paris, hereinafter referred to as "CITY" and Paris Living,
<br />Inc., hereinafter referred to as "PARIS LIVING", agree as follows:
<br />L For the purposes of this Agreement, the following definitions sha11 apply:
<br />a. Contract with the Taxing Entities sha11 mean that Interlocal Agreement, Tax Trust
<br />Agreement, and Limited Power of Attorney previously entered into by and among the City
<br />of Paris, Lamar County, Paris Independent School District, North Lamar Independent
<br />School District, and Paris Junior College for the implementation of the program stated
<br />herein.
<br />b. Lot or Lots sha11 mean a tract, City lot, or other parcel of real property, whether
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