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DRAFT
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<br />LISAkRESOLUTIONS\CURRENT\Lamar Power - Amendment One to TAG Res
<br /> September 25, 2001
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<br />RESOLUTION NO.
<br />
<br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
<br />PARIS, TEXAS, APPROVING AND AUTHORIZING THE EXECUTION OF
<br />AMENDMENT NUMBER ONE TO TAX ABATEMENT AGREEMENT
<br />WITH LAMAR POWER PARTNERS, FORMERLY PANDA PARIS POWER,
<br />L.P.; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE
<br />SUBJECT; AND PROVIDING AN EFFECTIVE DATE.
<br />
<br /> WHEREAS, the City Council of the City of Paris did heretofore, on the 8th day of June,
<br />1998, in Resolution No. 98-079, authorize the execution, delivery, and performance of an agreement
<br />with Panda Paris Power, L.L.C., pursuant to the Property Redevelopment and Tax Abatement Act,
<br />V.T.C.A., Tax Code Sec. 312.001, et seq. ("Act"), and the Guidelines and Criteria for Designation
<br />of Reinvestment Zones and Tax Abatement Agreements ("Guidelines"), to exempt a portion of the
<br />value of the property owned by Panda Paris Power, L.L.C. located in Reinvestment Zone 1998-1
<br />from ad valorem taxation upon and subject to the terms, conditions, and provisions set forth in the
<br />Tax Abatement Agreement, dated effective as of January 1, 1999; and,
<br />
<br /> WHEREAS, in order to assist Panda Paris Power, L.L.C., then known as Panda Paris I,
<br />L.L.C., in effectuating its contractual relationship with the affiliated legal entity which owned the
<br />project and the project assets and which was not in existence previously, same being Panda Paris
<br />Power, L.P., the City Council of the City of Paris did heretofore, on February 18, 1999, in Resolution
<br />No. 99-025, authorize the execution of a new Tax Abatement Agreement with Panda Paris Power
<br />L.P. that was identical in form to the previous abatement agreement and which replaced said previous
<br />agreement; and,
<br />
<br /> WHEREAS, since the execution of the Tax Abatement Agreement, the contacts for notice
<br />as set out in paragraph 13.3 of the Agreement have changed, and it is deemed appropriate that said
<br />Agreement be amended to reflect such change; and,
<br />
<br /> WHEREAS, the form of the First Amendment to Tax Abatement Agreement Between the
<br />City of Paris, Paris, Texas, and Lamar Power Partners, LP, formerly Panda Paris Power, L.P. dated
<br />February 18, 1999, attached hereto as Exhibit A, should, in all things, be approved, and the Mayor
<br />should be authorized to execute the same; NOW, THEREFORE,
<br />
<br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS,
<br />TEXAS:
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