90-019 ORD PROVIDING CODE OF ORDINANCES BE REVISED BY AMENDING CHAPTER 30 OF SAID CODE

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ORDINANCE N0. 90-019 AN ORDINANCE OF THE CITY OF PARIS, PARIS, TEXAS, PROVIDING THAT THE CODE OF URDINANCES, CITY OF PARIS, BE REVISED BY AMENDING CHAPTER 30 OF SAID CODE; PKOVIDING FOR THE ESTABLISHMENT OF REINVES'TMENT ZONE N0. TWO: REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH; AND PKOVIDING FOR AN EFFECTIVE DATE OF JULY 5, 1990. WHEREAS, the City Council of the City of Paris, Paris, Texas, desires to promote the development or redevelopment of a certain contiguous geographic area within its jurisdiction by the creation of a reinvestment zone for commercial and industrial tax abatement, as authorized by the Property Redevelopment and Tax Abatement Act, as amended; and, WHEREAS, on the 5th day of July, 1990, a hearing before the City Council was had, such date being at least seven (7) days after the date of publication of the notice of such public hearing and the delivering of written notice to a11 taxing entities which includes within its boundaries of real property that is to be included in the proposed reinvestment zone; and, WHERE;AS, the City at such public hearing invited any interested person to appear and speak for or against the creation of the reinvestment zone and whether all or part of the territory described should be included in the proposed reinvestment zone, and any concerns regarding the offering of tax abatement incentives; and, WHEREAS, the proponents of the reinvestment zone offered evidence, both oral and documentary, in favor of all the foregoing matters relating to the creation of the reinvestment zone and 0_ opponents of the reinvestment zone appeared to contest the creation of the reinvestment zone, if any; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: gl: That the facts and recitations contained in the preamble of this Ordinance are hereby found and declared to be true and correct. §2: That the City, after conducting such hearing and having heard such evidence and testimony, has made the following findings and determinations based on the evidence and testimony presented to it: a) That the public hearing on adoption of the reinvestment zone has been properly called, held and conducted and that notices of such hearings have been published as required by law and mailed to all taxing units overlapping the territory inside the proposed reinvestment zone; arid, b) That the boundaries of the reinvestment zone should be the area as described in the metes and bounds description attached hereto as Exhibit A and depicted on the plat attached as Exhibit B; and, c) That creation of the proposed zone with boundaries as described in Exhibit A and Exhibit B will result in benefits to the City and to land included in the zone and that the improvements sought are feasible and practical; and, dj That the reinvestment zone as defined in Exhibit A and Exhibit B meets the criteria for the creation of a