Laserfiche WebLink
288 <br /> <br /> Mr. Vest said that Prospect No. 0410597 is a Canadian Company that is looking at <br /> purchasing the BITCO building and relocating their operations to Paris. Mr. Vest <br /> asked the Board to consider allowing the Executive Committee to continue <br /> negotiations with this company. Mr. Vest said that he had reviewed their financial <br /> information and would like the Board's approval for the Executive Committee to <br /> continue negotiations and present any proposals to the Board for approval at a later <br /> date. Boardmember Rhodes made a motion, seconded by Boardmember Bray for <br /> the Executive Committee to continue negotiations with the prospect and to present <br /> any proposals to the Board for their approval which carried unanimously. <br /> <br /> President Fendley said that the Executive Committee presented our package to <br /> Babcock & Wilcox which he felt was favorably received. He said that they had not <br /> received any feedback at this time. <br /> <br /> President Fendley stated that the next items on the agenda were the discussion and <br /> development of the Annual Plan of Work and the Annual Budget for fiscal year <br /> 199711998. He said that there has been discussion concerning a one day workshop <br /> at the Love Civic Center. He said this information has to be presented to the City <br /> Council by July 1, 1997. He said that the Board also needs to look at the <br /> appropriations, the money expended, and future projects in the next twelve to <br /> thirty-six months. He said the Board needs to look at strategic planning. Mr. Vest <br /> said he thought the Board could meet at 11:00 A.M. with some food brought in and <br /> continue until the Board is finished. He suggested May 29, May 30, or the first or <br /> second week of June. After discussion, it was the consensus of the Board to meet <br /> on May 29, 1997. <br /> <br /> City Attorney T. K. Haynes reported that a suit has been filed to perpetuate <br /> testimony and they have asked to take dispositions from a representative of the <br /> City and a representative of P.E.D.C. He said in connection with this suit, that he has <br /> taken the liberty of arranging for counsel to represent us in that matter and all the <br /> BITCO related matters if the Board so chooses. He said a resolution has been <br /> prepared for the Board's approval in this matter. <br /> <br /> City Attorney Haynes read the resolution. Boardmember Amis made a motion, <br /> seconded by Boardmember Bray to adopt the resolution. <br /> <br /> Resolution No. 97-003-requesting the City Attorney of the City of Paris to procure <br /> additional legal counsel for representation to prosecute and defend civil actions, and <br /> to cooperate in the prosecution of criminal actions, arising from the BITCO Projec twas presented. <br /> <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> <br /> RESOLUTION NO. 97-003 <br /> <br /> WHEREAS, Section 4.13(B) of the Bylaws of the Paris Economic Development <br /> Corporation establishes the City Attorney of the City of Paris as the legal counsel for the PEDC <br /> and authorizes the Board of Directors to request tile City Attorney's advice and consultation with <br /> rcgard to matters affecting thc PEDC; and, <br /> <br /> WHEREAS, it is deemed appropriate that the Board of Directors, in accordance with said <br /> Section 4.13(B), request that the City Attorney procure additional legal counsel for representation <br /> to prosecute and defend civil actions, and to cooperate in the prosecution of criminal actions, <br /> arising from the Bitco project; NOW, THEREFORE, <br /> <br /> <br />