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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF PARIS, TEXAS: <br />Section 1. That the findings set out in the preamble to this resolution are <br />hereby in all things approved. <br />Section 2. A contract of sale attached hereto as Exhibit "B" between the City <br />of Paris (as trustee for the taxing units) and the current owner(s) of the Property is <br />hereby authorized, to convey the Property to the taxing units in lieu of paying the <br />taxes owing on it, subject to the terms of Texas Property Tax Code Section 31.061 <br />and the further approvals of Lamar County, Paris ISD and Paris Junior College. All <br />transaction costs of the sale shall be borne by the City of Paris, subject to <br />appropriation. <br />Section 3. A conveyance of the Property to the taxing units in lieu of the <br />payment of taxes, per Texas Property Tax Code Section 31.061, is hereby approved. <br />Section 4. Should the Property be conveyed to the taxing units per Texas <br />Property Tax Code Section 31.061, a subsequent private re -sale of the Property to <br />the City of Paris for $1.00 pursuant to Texas Property Tax Code Section 34.05(1) is <br />hereby approved. <br />Section S. The purchase of the Property by private re -sale made pursuant to <br />Texas Property Tax Code Section 34.05(1) for $1.00 is hereby authorized. <br />Section 6. Proceeds from the private re -sale of the Property shall be <br />distributed as required by the Texas Property Tax Code. <br />Section 7. That this resolution shall be effective from and after its date of <br />passage. <br />PASSED AND APPROVED this 9th day of June, 2014. <br />CITY OF PARIS, TEXAS <br />,�/(i(.✓�i�.l,�.�t% ✓mot l.L�bd�' <br />Richard Grossnickle, Mayor Pro -Tem <br />