2001-164-RES APPROVING/AUTHORIZING EXECUTION OF AMENDMENT NUMBER ONE TO TAX ABATEMENT AGREEMENTWITH LAMAR POWER PARTNERS
RESOLUTION NO. 2001-164
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
PARIS, TEXAS, APPROVING AND AUTHORIZING THE EXECUTION OF
AMENDMENT NUMBER ONE TO TAX ABATEMENT AGREEMENT
WITH LAMAR POWER P ARTNERS, FORMERLY PANDA PARIS POWER,
L.P.; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE
SUBJECT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Paris did heretofore, on the 8th day of June,
1998, in Resolution No. 98-079, authorize the execution, delivery, and performance of an
agreement with Panda Paris Power, L.L.C., pursuant to the Property Redevelopment and Tax
Abatement Act, V.T.C.A., Tax Code Sec. 312.001, et seq. ("Act "), and the Guidelines and
Criteria for Designation of Reinvestment Zones and Tax Abatement Agreements ("Guidelines"),
to exempt a portion of the value of the property owned by Panda Paris Power, L. L. C. located in
Reinvestment Zone 1998-1 from ad valorem taxation upon and subject to the terms, conditions,
and provisions set forth in the Tax Abatement Agreement, dated effective as of January 1, 1999;
and,
WHEREAS, in order to assist Panda Paris Power, L.L.c., then known as Panda Paris I,
L. L. C., in effectuating its contractual relationship with the affiliated legal entity which owned the
project and the project assets and which was not in existence previously, same being Panda Paris
Power, L.P., the City Council of the City of Paris did heretofore, on February 18, 1999, in
Resolution No. 99-025, authorize the execution of a new Tax Abatement Agreement with Panda
Paris Power L. P. that was identical in form to the previous abatement agreement and which
replaced said previous agreement; and,
WHEREAS, since the execution of the Tax Abatement Agreement, the contacts for notice
as set out in paragraph 13.3 of the Agreement have changed, and it is deemed appropriate that said
Agreement be amended to reflect such change; and,
WHEREAS, the form of the First Amendment to Tax Abatement Agreement Between the
City of Paris, Paris, Texas, and Lamar Power Partners, LP, formerly Panda Paris Power, L.P.
dated February 18, 1999, attached hereto as Exhibit A, should, in all things, be approved, and the
Mayor should be authorized to execute the same; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS,
TEXAS:
Section 1. That the fmdings set out in the preamble to this resolution are hereby in all
things approved.
Section 2. That the form of the First Amendment to Tax Abatement Agreement Between
the City of Paris, Paris, Texas, and Lamar Power Partners, LP, formerly Panda Paris Power, L.P.
dated February 18, 1999, attached hereto as Exhibit A, revising the notice provisions therein, be,
and the same is hereby, approved.
Section 3. That the Mayor be, and he is hereby, authorized and directed to execute, on
behalf of the City of Paris, the First Amendment to Tax Abatement Agreement with Lamar Power
Partners, LP, formerly Panda Paris Power, L.P., under the terms and conditions and in the form
shown in Exhibit A, attached hereto.
Section 4. That this resolution shall be effective from and after its date of passage.
PASSED AND APPROVED this 4th day of October, 2001.
ATTEST:
~tM,..~~~
Mattie Cunningham, City Cle
APPROVED AS TO FORM:
FIRST AMENDMENT TO TAX ABATEMENT AGREEMENT
BETWEEN THE CITY OF PARIS, PARIS, TEXAS,
AND LAMAR POWER PARTNERS, LP,
FORMERLY PANDA PARIS POWER, L.P.
DATED FEBRUARY 18,1999
STATE OF TEXAS
)
)
)
KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF LAMAR
That this First Amendment to Tax Abatement Agreement is made this 4th day of October,
2001, by and between the CITY OF PARIS, PARIS, TEXAS, acting by and through its Mayor,
Michael J. Pfiester, duly authorized, hereinafter called CITY, and LAMAR POWER PARTNERS,
LP, formerly Panda Paris Power, L.P., acting by and through its authorized officer whose
signature appears below, hereinafter called OWNER.
RECITALS
WHEREAS, the City Council of the City of Paris did heretofore, on the 8th day of June,
1998, in Resolution No. 98-079, authorize the execution, delivery, and performance of an
agreement with Panda Paris Power, L. L. C., pursuant to the Property Redevelopment and Tax
Abatement Act, V.T.C.A., Tax Code Sec. 312.001, et seq. ("Act"), and the Guidelines and
Criteria for Designation of Reinvestment Zones and Tax Abatement Agreements (" Guidelines"),
to exempt a portion of the value of the property owned by Panda Paris Power, L. L. C. located in
Reinvestment Zone 1998-1 from ad valorem taxation upon and subject to the terms, conditions,
and provisions set forth in the Tax Abatement Agreement, dated effective as of January 1, 1999;
and,
WHEREAS, in order to assist Panda Paris Power, L.L.c., then known as Panda Paris I,
L.L.C., in effectuating its contractual relationship with the affiliated legal entity which owned the
project and the project assets and which was not in existence previously, same being Panda Paris
Power, L.P., the City Council of the City of Paris did heretofore, on February 18, 1999, in
Resolution No. 99-025, authorize the execution of a new Tax Abatement Agreement with Panda
Paris Power L.P. that was identical in form to the previous abatement agreement and which
replaced said previous agreement; and,
EXIDBIT A
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WHEREAS, since the execution of the Tax Abatement Agreement, the contacts for notice
as set out in paragraph 13.3 of the Agreement have changed, and it is deemed appropriate that said
Agreement be amended to reflect such change; NOW, THEREFORE,
WITNESSETH
Section 1. That OWNER does hereby mutually agree with CITY that the following section
of said Agreement be amended to read as follows:
" 13.3. Any written notice required or permitted under the terms of this
AGREEMENT shall be given and be deemed to have been duly served if either (1)
delivered in person, or (2) deposited certified mail, return receipt requested,
postage prepaid in the United States mail, addressed to the designated
representative of the respective parties which are designated as follows:
OWNER
Lamar Power Partners, LP
c/o FPL Energy - Tax Dept.
700 Universe Boulevard
Juno Beach, FL 33408-0420
CITY
City Manager
City of Paris
P. O. Box 9037
Paris, Texas 75461-9037
With a copy to:
Lamar Power Partners, LP
c/o Cummings Westlake, LP
11000 Richmond Ave., Suite 650
Houston, TX 77042
With a copy to:
City Clerk
City of Paris
P. O. Box 9037
Paris, Texas 75461-9037"
Section 2. That this First Amendment to Tax Abatement Agreement shall be effective
from and after the date of execution hereof.
Section 3. That all other provisions of the original Agreement, not affected by this
Amendment, shall remain in full force and effect.
EXECUTED on this the 4th day of October, 200 1.
CITY OF PARIS, PARIS, TEXAS
By:
Michael J. Pfiester, Mayor
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ATTEST:
Mattie Cunningham, City Clerk
APPROVED AS TO FORM:
Larry W. Schenk, City Attorney
LAMAR POWER PARTNERS, LP
By:
Name:
Title:
ATTEST:
Secretary
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