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RESOLUTION NO. 93 -030 <br />WHEREAS, khe City Council of the City of Paris, desires <br />to promote e�Womic development within the corporate limits <br />of the City of Paris or within the extraterritorial <br />jurisdiction of said city; and <br />WHEREAS, the provision of certain economic development <br />incentives may encourage prospective businesses and companies <br />P to locate within such corporate limits or extraterritorial <br />jurisdiction or existing businesses and companies located <br />therein to expand; and, <br />WHEREAS, the establishment of specific guidelines, <br />criteria, and procedures are necessary to insure that tax <br />abatement incentives are given and administered effectively; <br />and, <br />WHEREAS, the adoption of guidelines and criteria are <br />required by state law before an area may be established as a <br />reinvestment zone; NOW THEREFORE, <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, <br />PARIS, TEXAS: <br />1. That the City of Paris hereby establishes certain <br />guidelines and criteria governing tax abatement incentives <br />within that portion of the City of Paris described in <br />Reinvestment Zone Number Four attached hereto as Exhibit A, <br />and such guidelines and criteria shall expressly govern.all <br />subsequent tax abatement agreements in said Zone. <br />2. That such guidelines and criteria shall be <br />effective for two (2) years from the date of adoption and may <br />only be amended or repealed by a vote of three- fourths vote <br />of the City council. <br />Passed and adopted this 15th day of March, 1993. <br />G rge isher, Mayor <br />ATTEST: <br />L <br />Mattie Cunningham, Ci Clerk <br />APPROVED AS TO FORM: <br />T. Ki Hd`yne1f3, City Attorney <br />J <br />