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PEDC Board Meeting Minutes December 10, 2013 Page 3 of 3 Discuss and take action on proposed operating policies and procedures for the Paris EDC as recommended by the Committee. — Bruce Carr & Vicki Ballard Bruce Carr told those present that he would like the Board to consider a revision to the Cash Advances process by changing the word "should" to "will ". Discussion took place on the proposed Code of Ethics and Budget, Audit and Financial Reporting. Kent McIlyar suggested he and Bruce get together to discuss the Code of Ethics further. Rebecca Clifford made the motion to approve the Cash Advances revision; Budget, Audit and Financial Reporting with corrections to spelling and table the Code of Ethics process; seconded by Stephen Grubbs. Motion Carried 3 -0. Discuss and take action on committee report to review the PEDC operating budget and revised chart of accounts. — Bruce Carr & David Turner Bruce Carr told those present that with the Program of Work discussion that will take place at the January 2014 meeting, the allocation will be discuss then, also. No action was taken on this item. Discuss and take action on the proposed revision(s) to the current Tax Abatement Criteria as instructed by the Paris City Council at its June 24, 2013 meeting. — Steve Gilbert Steve Gilbert told those present that he had received the depreciation information from the Appraisal District. Apparently, the equipment is valued on a case -by -case basis. Steve Gilbert proposed that language be included that depreciation of equipment would reserve the right for separate depreciation schedule. Bruce Carr stated that he wasn't comfortable with approving the criteria without all voting members of the board being present. Bruce Carr made a motion to table for consideration at the January, 2014 meeting; seconded by Stephen Grubbs. Motion Carried 3 -0. The Board convened into executive session at 4:42 p.m. pursuant to Section 551.072, Section and Section 551.087 of the Texas Government Code to discuss and deliberate on the following: A. Section 551.072 - Real Property B. Section 551.087 — Economic Development Negotiations Note: Matt Frierson left at 4:54 p.m. and Pam Anglin left at 5:28 p.m. The Board re- convened into open session at 5:55 p.m. The Board took no action as a result of the Executive Session. Bruce Carr made a motion to adjourn at 5:56 p.m.; seconded by Stephen Grubbs. Motion Carried 3 -0. Respectfully submitted, Shannon Barrentine Asst. Executive Director Paris EDC