2013-039 Approving an Economic Incentive Agreement between the Paris Economic Development Corporation and Campbell Soup Supply Company, LLC

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RESOLUTION NO. 2013 -039 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING AN ECONOMIC INCENTIVE AGREEMENT BETWEEN THE PARIS ECONOMIC DEVELOPMENT CORPORATION AND CAMPBELL SOUP SUPPLY COMPANY, LLC; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, on October 1, 2013, the Paris Economic Development Corporation entered into an Economic Incentive Agreement with Campbell Soup Supply Company, LLC related to Campbell Soup's $46,100,000.00 investment in a new Ready to Eat Product line at the Paris, Texas Plant; and, WHEREAS, pursuant to City and PEDC policy, the City Council shall review all economic incentive agreements involving an expenditure in excess of $400,000.00; and WHEREAS, the City Council hereby finds that it is in the best interest of the City to approve the PEDC Economic Incentive Agreement with Campbell Soup for the new Ready to Eat Product line at the Paris, Texas plant. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble of this resolution are hereby in all things approved. Section 2. That the Economic Incentive Agreement October 1, 2013 between the Paris Economic Development Corporation and Campbell Soup Supply Company, LLC form, attached hereto as Exhibit "A ", is hereby ratified and approved. PASSED AND ADOPTED this 14th day of OctobeA 2013. A.J. Hashm, M.D., 0,5V �, ATTEST: a ice Ellis, City Clerk APPROV AS ORM: W. Kent Illy , ty Attorney