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260 <br /> <br /> After further discussion among the Boardmembers concerning the <br />· amendment to the Bylaws, Boardmember Michael Rhodes made a <br /> motion, seconded by Boardmember Barney Bray to table the <br /> agenda item requesting the City Council of the City of Paris <br /> to approve an amendment to Section 4.13 of the Bylaws of the <br /> Paris Economic Development Corporation. The motion carried <br /> unanimously. <br /> <br /> President Fendley asked if there was any other business and <br /> there being none he declared the board meeting adjourned. <br /> <br /> PRESIDENT CURTIS FENDLEY <br /> <br /> ATTEST: <br /> <br /> ASSISTANT CITY CLERK, BARBARA DENNY <br /> <br /> PARIS ECONOMIC DEVELOI'MENT CORPORATION <br /> RESOLUTION NO. 96-009 <br /> <br /> WHEREAS, the Paris Economic Development Coporation has received a request from <br /> Bits International Company, dba Bitco, to guarantee a $25,000.00 line of credit from <br /> Peoples National Bank, and it is deemed appropriate that such request be granted; and, <br /> <br /> WHEREAS, the form or such guaranty, attached hereto as Exhibit A, should, in all <br /> things, be approved, and the President of the Paris Economic Development Corporation, Curtis <br /> Fcndlcy, should be authorized to execute the same; and, <br /> <br /> WHEREAS, in the interest of time, it further deemed appropriate that this resolution <br /> granting approval of such request be executed in accordance with Section 5.06 of the Bylaws of <br /> the Paris Economic Development Corporation; NOW, TIIEREFORE, <br /> <br /> BE IT RESOLVED BY THE PARIS ECONOMIC DEVELOPMENT <br /> CORPORATION, that the Paris Economic Development Corporation shall guarantee the <br /> payment and performance of a $25,000.00 line of credit extended to Bits International Company, <br /> dba Bitco, by Peoples National Bank, a national banking association, under those terms and <br /> conditions shown in Exhibit A, attached hereto; and, <br /> <br /> BE IT FURTHER RESOLVED, Curtis Fendley, President of the Paris Economic <br /> Developmcut Corporation, be, and he is hereby, authorized and directed to execute, on behalf <br /> of the Paris Economlc Development Corporation, the Guaranty to Peoples National Bank <br /> guaranteeing a $25,000.00 line of credit extended to Bits International Compauy. dba Bitco, <br /> under the terms and conditions and in the form shown in Exhibit A, attached hereto; and, <br /> <br /> <br />