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279 <br /> <br /> President Fendley asked Mr. Vest to give the Director's Report. Mr. Vest introduced <br /> his new assistant in economic development, Jodi Carr. Mr. Vest advised that due <br /> to advertising they had received two responses since the last meeting with one <br /> direct mail response. He said that they had also had a prospect from T.U. Electric , <br /> and Texas Department of Commerce. Mr. Vest stated that in connection with BITCO <br /> Plant, they had closed for the Christmas holidays and did not reopen. He said <br /> that BITCO has been served papers by the Board that they are in violation of the <br /> lease. He said they have been notified by the Northeast Texas Economic <br /> Development District that they are in default on their equipment loan and the banks <br /> have notified them that they have until January 22nd, to address the bank loan. He . <br /> said that he had cashed their letter of credit and given it to Mr. Anderson, the <br /> Finance Director. President Fendley called for questions concerning Mr. Vest's <br /> report and there were none. <br /> <br /> President Fendley asked City Attorney Haynes if he had anything to report at this <br /> time and he said that he did not have a report to give at this time. <br /> <br /> President Fendley asked if there was any other business. He asked the <br /> Boardmembers to note on their calendars that the next regularly scheduled meeting <br /> for the month of February would be held on 12, 1997, at 4:00 o'clock, p.m. <br /> <br /> He declared the meeting adjourned. <br /> <br /> President Curtis Fendley <br /> <br /> Assistant City Clerk Barbara Denny <br />