14-MOTION TO APPROVE RES AUTHORIZING CITY TO BECOME ELIGIBLE TO PARTICIPATE IN TAX ABATEMENTS UNDER CHAPTER 312 OF TX TAX CODE

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Draft RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS AUTHORIZING THE CITY TO BECOME ELIGIBLE TO PARTICIPATE IN TAX ABATEMENT AND APPROVING AMENDED GUIDELINES AND CRITERIA FOR GRANTING TAX ABATEMENTS IN THE CITY OF PARIS, TEXAS; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris, Texas has previously adopted a resolution expressing its intent to consider Tax Abatements and adopting Tax Abatement Guidelines as required by the Texas Tax Code, Chapter 312; and WHEREAS, Section 312.002 of the Texas Tax Code requires the city to update its guidelines and criteria for granting tax abatements every two years; and WHEREAS, the Paris City Council desires to amend the Tax Abatement Guidelines that will govern the implementation of the City's Tax Abatement Program as allowed by the Texas Tax Code, Chapter 312; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, THAT: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved. Section 2. The City hereby elects to be eligible to participate in a tax abatement program and adopts the Amended Guidelines and Criteria for Tax Abatements attached hereto and incorparated herein as Exhibit "A". The Guidelines are the policies that the City of Paris, Texas will follow in considering and approving Tax Abatement Agreements with property owners within the City Limits. Section 3. This resolution shall become effective from and after the date of passage. PASSED AND APPROVED this 11th day of June, 2012 ATTEST: Janice Ellis, City Clerk APPROVED AS TO FORM: W. Kent McIlyar, City Attorney A.J. Hashmi, M.D., Mayor 133