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<br />F:\Attorney\Lisa\Resolutions\CiJRRENT\Sesaco - Assignment Res.wpd
<br />February 3, 2004
<br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
<br />PARIS, TEXAS, AUTHORIZING THE EXECUTION OF A CONSENT OF
<br />ASSIGNMENT OF THE TAX ABATEMENT AGREEMENT FROM SESACO
<br />CORPORATION TO SESAME SOLUTIONS, LLC; MAKING OTHER
<br />FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND
<br />DECLARING AN EFFECTIVE DATE.
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 12th day of March,
<br />2001, authorize the execution, delivery, and performance of an agreement with Sesaco Corporation,
<br />pursuant to the Property Redevelopment and Tax Abatement Act, V. T. C.A., Tax Code Sec. 312.001,
<br />et seq. ("Act"), and the Guidelines and Criteria for Designation of Reinvestment Zones and Tax
<br />Abatement Agreements ("Guidelines"), to exempt a portion of the value of the property owned by
<br />Sesaco Corporation located in Reinvestment Zone No. 9 from ad valorem taxation upon and subject
<br />to the terms, conditions, and provisions set forth in the Tax Abatement Agreement, dated effective
<br />as of January 1, 2002 ("Agreement"); and,
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the l lth day of June,
<br />2001, in Resolution No. 2001-084, authorize the execution of Amendment No. One to Tax
<br />Abatement Agreement Between the City ofParis, Paris, Texas, and Sesaco Corporation Dated March
<br />12, 2001, revising the terms of said Agreement; and,
<br />WHEREAS, during the course of the formation of a joint venture with T. J. Harkins
<br />Commodities, Sesaco Corporationtransferred ownership ofthe property the subject ofthe abatement
<br />to Sesame Solution, LLC, and it is deemed appropriate that the City of Paris consent to the
<br />assignment of the abatement agreement; and,
<br />WHEREAS, the form of the Consent of Assignment of Tax Abatement Agreement from
<br />Sesaco Corporation to Sesame Solutions, LLC, attached hereto as Exhibit A, should, in all things be
<br />approved, and the Mayor should be authorized to execute the same; NOW, THEREFORE,
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS,
<br />TEXAS:
<br />Section 1. That the findings set out in the preamble to this resolution are hereby in all things
<br />approved.
<br />Section 2. That the form of the Consent of Assignment of Tax Abatement Agreement from
<br />Sesaco Corporation to Sesame Solutions LLC, attached hereto as Exhibit A, be, and the same is
<br />hereby, approved.
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