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425 <br /> <br /> MINUTES OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> REGULAR MEETING <br /> February 10, 1999 <br /> <br /> The Paris Economic Development Corporation met in a regular meeting on <br /> Wednesday, February 10, 1999, at 4:00 P.M., in the City Council Chambers, City <br />-- Hall, Paris, Texas. President Mike Rhodes called the meeting to order with the <br /> following boardmembers present: Melba Harris, Barney Bray, and Dick Amis. <br /> Also present were ex-officio boardmembers Mayor Charles Neeley, Chamber <br /> President George Struve, Executive Director Gary Vest, and City Attorney Scott <br /> Foster. <br /> <br /> President Rhodes stated that the next item on the agenda was approval of the <br /> minutes from the previous meeting of the Paris Economic Development <br /> Corporation. He asked if there were any corrections or additions to the minutes <br /> of the previous meeting, and there were none. Boardmember Dick Amis made a <br /> motion, seconded by Boardmember Barney Bray, that the minutes be approved <br /> as presented. The motion carried unanimously. <br /> <br /> President Rhodes asked Gene Anderson, Director of Finance, to give the financial <br /> report for the month of January. Mr. Anderson gave the financial report. Mr. <br /> Anderson stated that he would be glad to answer any questions. President <br /> Rhodes asked if he was able to make the investment on the INS Fund. Mr. <br /> Anderson said that this cannot be accomplished through a certificate of deposit <br /> with one of the local banks, specifically Liberty National Bank, because of the <br /> location of the City of Paris depository. He said that the Paris Economic <br />-- Development Corporation's funds are not covered under the depository <br /> agreement as it is written, and he is going to have to purchase some other type <br /> instrument in order for the fund to be insured. After discussion, Mr. Rhodes <br /> advised that perhaps this amount could be placed in three different certificates of <br /> deposit. Mr. Vest asked Mr. Anderson if he had spoken with Mr. Coker of the <br /> school system concerning the funds, and Mr. Anderson stated that he would get <br /> with Mr. Coker. Mr. Anderson said that he would report this information and the <br /> action taken at the next meeting. President Rhodes asked if anyone had any <br /> questions and there were.none. Boardmember Bray made a motion, seconded by <br /> Boardmember Harris, that the financial report be approved as presented. The <br /> motion carried unanimously. <br /> <br /> President Rhodes asked Gary Vest to give the Director's Report. Mr. Vest <br /> discussed responses received due to the advertising program, and he said that <br /> he had attended the T.E.D.C. Meeting in Austin this past month. He said one <br /> important item at this meeting was the formation of a sales tax communities <br /> organization which will be a part of the Texas Economic Development Council. <br /> He said that they adopted a legislative strategy for this session which he <br /> provided to each boardmember. He said there are a lot of economic development <br /> bills in this legislative session, and Mark Homer was appointed to the House <br />__ Economic Development Committee. He said that T.E.D.C. is pushing for state <br /> priority services for regional economic development efforts in parts of the state <br /> that combine on a development program. Mr. Vest also discussed the requested <br /> changes in connection with the Texas Open Meetings Records Act concerning <br /> confidentiality. Mr. Vest advised that they have obtained two grants for Turner <br /> International Piping Systems. <br /> <br /> <br />