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388 <br /> <br /> Finance Director Gene Anderson stated that the bid from Salomon Smith Barney <br /> represented the Iow bid. After discussion with Mr. Almon and Mr. Tart <br /> concerning each of the bids being a fair and competitive market bid, President <br /> Rhodes called for any questions concerning these bids. Attorney Peter Tart <br /> stated that the Board needed a motion accepting the bid of Salomon Smith <br /> Barney as the lowest bidder, adoption of a resolution authorizing the issuance of <br /> the bonds pursuant to the official notice of sale circulation, authorization to <br /> submit a transfer proceedings to the Attorney General's Office for their review, <br /> authorization of a paying agent registrar agreement with the Bank of New York <br /> and authorization of a sales tax remittance agreement between the City of Paris <br /> and the E.D.C which meets the Attorney General's requirements. He advised that <br /> the City Council would meet at 6:00 P.M. for adoption of a resolution required by <br /> State Law approving the indebtedness authorized by resolution by the Paris <br /> Economic Development Corporation Board. <br /> <br /> President Rhodes called for questions and there were none. He stated that the <br /> next item on the agenda was the consideration of and action on letting the bid for <br /> the issuance of approximately $4,200,000.00 Taxable Sales Tax Revenue Bonds, <br /> Series 1998. President Rhodes called for a motion on this item. Boardmember <br /> Dick Amis made a motion, seconded by Boardmember Barney Bray, to award the <br /> bid to Salomon Smith Barney for the issuance of approximately $4,200,000.00 <br /> Taxable Sales Tax Revenue Bonds, Series 1998, and the motion carried <br /> unanimously. <br /> <br /> President Rhodes stated that the next item on the agenda was consideration of <br /> and action on a resolution authorizing the issuance of Taxable Sales Tax <br /> Revenue Bonds, Series 1998, providing for the security of the bonds, approving <br /> the sale and all other authorizations as necessary, and all other material related <br /> thereto, including a Sales Tax Remittance Agreement. <br /> <br /> City Attorney Scott Foster stated that normally he would read the resolution, but <br /> Attorney Peter Tart explained the resolution prior to this item on the agenda. He <br /> said if anyone had any questions, he would defer them to Mr. Tart at this time. <br /> There were no questions. <br /> <br /> Resolution No. 98-014, authorizing the issuance of Taxable Sales Tax Revenue <br /> Bonds, Series 1998, providing for the security of the bonds, approving the sale <br /> and all other authorizations as necessary, and all other material related thereto, <br /> including a Sales Tax Remittance Agreement. <br /> <br /> Resolution No. 98-014 <br /> CERTIFICATE FOR RESOLUTION <br /> <br /> THE STATE OF TEXAS : <br /> COUNTY OF LAMAR : <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> <br /> We, the undersigned officers of said Corporation, hereby certify as follows: <br /> <br /> 1. The Board of said Corporation convened in REGULAR MEETING ON THE 9TH DAY <br /> OF NOVEMBER, 1998, at the regular meeting place, and the roll was called of the duly constituted <br /> officers and members of said Board, to-wit: <br /> <br /> <br />