10-APPROVE ABATEMENT REQUEST OF T&K MACHINE

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Draft RESOLUTION NO. A RESOLUTIOIV OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS; APPROVING AND AUTHORIZING A TAX ABATEMENT AGREEMENT WITH T & K MACHINE, INC.; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris has been presented a proposed agreement by and between the City of Paris, Texas and T&K Machine, Inc., providing for a commercial and industrial tax abatement for certain improvements, a copy of which is attached hereto as Exhibit "A", and incorporated herein by reference hereinafter called "Agreement"; and, WHEREAS, a public hearing was held before the City Council on November 12, 2012, to allow interested persons to be heard regarding any matter related to the Tax Abatement Agreement; and, WHEREAS, upon review and consideration of the Agreement, and all matters attendant and related thereto, the City Council is of the opinion that the terms and conditions thereof meet the Guidelines and Criteria for Tax Abatement and should be approved, and that the Mayor should be authorized to execute it on behalf of the City of Paris, Texas. 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. That the terms of the Tax Abatement Agreement and the property the subject thereof ineet the City's Guidelines and Criteria for Tax Abatement adopted by the City of Paris by Resolution No. 2012-072. Section 3. That the terms and conditions of the proposed Agreement attached hereto as Exhibit "A", having been reviewed by the City Council of the City of Paris and found to be acceptable and in the best interests of the City of Paris and its citizens, be, and the same are hereby, in all things approved. Section 4. That the Mayor is hereby authorized to execute the Agreement and all other documents in connection therewith on behalf of the City of Paris substantially according to the terms and conditions set forth in the Agreement attached hereto as Exhibit "A". Section 5. That the planned use of the property the subject of the tax abatement will not constitute a hazard to public safety, health, or welfare. Section 6. That this approval and execution of the agreement on behalf of the City is not conditioned upon approval and execution of any other tax abatement agreement by any other taxing entity. � � 3'7