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DRAFT <br />H:4ITTORNEYQANICE\ENTERPRISE\WAREHOUSEWUTHORIZING TAX ABATEMENT AGREEMENT <br />RESOLUTION NO. <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, <br />PARIS, TEXAS, APPROVING AND AUTHORIZING A TAX ABATEMENT <br />AGREEMENT WITH PARIS WAREHOUSE 107, INC.; MAKING OTHER <br />FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND <br />PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, the City of Paris is in receipt of a Tax Abatement and Reinvestment Zone <br />Designation Application from Paris Warehouse 107, Inc., requesting a tax abatement for <br />improvements to its facilities located at 2300 13" S.W. in Paris, Texas; and, <br />WHEREAS, such Application was presented to the Board of Directors of the Paris <br />Economic Development Corporation on the lOth day of September, 2004, for review and <br />recommendation to the City Council of the City of Paris, and the PEDC has recommended that Paris <br />Warehouse 107, Inc. be granted a one hundred percent (100%) tax abatement for a period of seven <br />(7) years; and, <br />WHEREAS, the City Council of the City of Paris has been presented a proposed agreement <br />by and between the City of Paris, Paris, Texas, and Paris Warehouse 107, Inc, providing for a <br />commercial and industrial tax abatement for certain improvements, a copy of which is attached <br />hereto and incorporated herein by reference hereinafter called "AGREEMENT"; and, <br />WHEREAS, upon full review and consideration of the AGREEMENT, and all matters <br />attendant and related thereto, the City Council is of the opinion that the terms and conditions thereof <br />should be approved, and that the Mayor should be authorized to execute it on behalf of the City of <br />Paris; 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 terms and conditions of the proposed AGREEMENT, having been <br />reviewed by the City Council of the City of Paris and found to be acceptable and in the best interests <br />of the City of Paris and its citizens, be, and the same are hereby, in all things, approved. <br />Section 3. That the Mayor is hereby authorized to execute the AGREEMENT and all other <br />documents in connection therewith on behalf of the City of Paris substantially according to the terms <br />and conditions set forth in the AGREEMENT. <br />