1998-156-RES WHEREAS, CITY COUNCIL DESIRES TO PROMOTE ECONOMIC
RESOLUTION NO. 98-156
WHEREAS, the City Council of the City of Paris desires to promote economic
development within Paris; and,
WHEREAS, the creation of certain tax abatement zones within the City of Paris and its
extraterritorial jurisdiction will likely contribute to the economic development of Paris by
encouraging major investment and the creation of jobs; and,
WHEREAS, the passage of Senate Bill 1225 (7Oth Legislature) amended the Property
Redevelopment and Tax Abatement Act to allow cities to establish their own local criteria for the
designation of tax abatement zones; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the
City of Paris does hereby elect to become eligible to participate in tax abatement agreements as
authorized under the Property Redevelopment and Tax Abatement Act, as amended; and,
BE IT FURTHER RESOLVED, that the City Manager, Michael E. Malone, shall
develop guidelines and criteria to govern all tax abatement agreements with the City of Paris as
required by the Property Redevelopment and Tax Abatement Act, as amended.
PASSED AND ADOPTED this 9th day of November, 1998.
ATTEST:
Mattie Cunningham, City Cler
APPROVED AS TO FORM:
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Scott P. Foster, City Attorney