92-048 ORD PROVIDING CODE OF ORDINANCES BE AMENDED BY AMENDING CHAPTER OF SAID CODE

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ORDIPdANCE N0. 92-048 AN ORDINANCE OF THE CITY OF PARIS, PARIS, TEXAS, PROVIDING THAT THE CODE OF ORDINANCES, CITY UF PARIS, BE REVISED BY AMENDING CHAPTER 30 OF SAID CODE; PROVIDING FOR THE ESTABLISHMENT OF REINVESTMENT ZONE N0. TWO-A: REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING FOR AN EFFECTIVE UATE OF OCTOBER 15, 1992. WHEREAS, the City Council of the City of Paris, Paris, Texas, desires to promote the development or redevelopment of a certain contiguous geographic area within its jurisdiction by the creation of a reinvestment zone for commercial and industrial tax abatement, as authorized by the Property Redevelopment and Tax Abatement Act, as amended; and, WHEREAS, on the 15th day of October, 1992, a hearing before the City Council was had, such date being at least seven (7) days after the dat:e of publication of the notice of such public hearing and the delivering of written notice to all taxing entities which i.ncludes within its boundaries of real property that is to be included in the proposed reinvestment zone; and, WHEREAS, the City at such public hearing invited any interested person to appear and speak for or against the creation of the reinvestment zone and whether all or part of the territory described should be included iri the proposed reinvestment zone, and any concerns regarding the offering of tax abatement incentives; and, WHEREAS, the proponents of the reiiivestment zone offered evidence, both oral and documentary, in favor of all the foregoing matters relating to the creation of the reinvestment zone and no opponents of the reinvestment zone appeared to contest the creation of the reinvestment zone; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: §1: That the facts and recitations contained in the preamble of this Ordinance are hereby found and declared to be true and correct. §2: That the City, after canducting such hearing and having heard such evidence and testimony, has made the following findings and determinations based on the evidence and testimony presented to it: a) That the public hearing on adoption of the reinvestment zone has been properly called, held and conducted and that notices of such hearings have been published as required by law and mailed to aIl taxing units overlapping the territory inside the proposed reinvestment zone; and, b) That the boundaries of the reinvestment zone are depicted as the shaded areas A, B, C and D on the plant site drawing attached hereto as Exhibit B, which plant site lies upon the tract of land described in three parcels on Exhibit A-1, A-2 and A-3 attached hereto, hereinafter referred to as Zone Two-A; and, c) That creation of the proposed zone within said PROPERTY, will result in benefits to the City and to land included in the zone and that the improvements sought are feasible and practical; and, d) That the reinvestment zone withiri said Zone Two-A meets the criteria tor the creation of a reinvestment