1998-06-29-Minutes - Laserfiche WebLink

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366 MINUTES OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION SPECIAL MEETING June 29, 1998 The Paris Economic Development Corporation met in a special meeting on Monday, June 29, 1998, at 4:00 P.M., in the City Hall North Annex Meeting Room, Paris, Texas. President Curtis Fendley called the meeting to order with the following boardmembers present: Dick Amis, Michael Rhodes, and Leon Williams. Also present at this meeting were ex-officio boardmembers, Sims Norment, Mayor Charles Neeley, Executive Director Gary Vest, City Manager Michael E. Malone and City Attorney Scott Foster. President Fendley stated that the first item on the agenda was consideration of a resolution authorizing Southwest Securities as financial advisor and authorizing the City Attorney to procure bond counsel to initiate the process of issuing approximately $4,000,000.00 in Sales Tax Revenue Bonds, Series 1998, and to seek the concurrence of the Paris City Council in authorizing the same. President Fendley stated that the board wanted to amend the resolution to also include other financing options. He asked Mr. Vest to explain this action. Mr. Vest stated that the Board would like to have the freedom to either issue and sell the bonds at a public sale or secure the same type financing through our local lending institutions. After discussion by the Board, City Attorney Scott Foster read the resolution. Resolution No. 98-008, authorizing the Paris Economic Development Corporation to initiate the process of issuing approximately $4,000,000.00 in Sales Tax Revenue Bonds, Series 1998. By resolution, Southwest Securities is retained as financial advisor and City Attorney Scott P. Foster is requested to procure bond counsel, and in the alternative Paris Economic Development Corporation should seek financing in a means that best suits its needs for said process subject to authorization of such process initiation by the City Council of the City of Paris.