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431 <br /> <br /> <br /> WHEREAS, an Investment Tax Credit and a Reseamh and Development Credit would <br /> enable the State of Texas to partner with cities and counties to attract new business to the state; <br /> and, <br /> <br /> WHEREAS, the Legislature should enact a long-term strategy for attracting business <br /> investment in Texas, enacting a credit policy that rewards future capital investment and investment <br /> in research and development activities; and, <br /> <br /> WHEREAS, this policy should be geared to attract businesses of all sizes, but special <br /> emphasis should be placed on attracting investment to the rural areas of the state and to areas of <br /> the state that are in economic distress; NOW, THEREFORE, <br /> <br /> BE IT RESOLVED BY THE PARIS ECONOMIC DEVELOPMENT <br /> CORPORATION, that, as a member of InvesTexas, we support the enactment of an Investment <br /> Tax Credit and a Research and Development Credit in order to put Texas's economic development <br /> policy on strong footing for the next century. <br /> <br /> PASSED AND ADOPTED this 10th day of March, 1999. <br /> <br /> Michael R. Rhodes, President <br /> <br /> ATTEST: <br /> <br /> Melba Harris, Secretary-Treasurer <br /> <br /> APPROVED AS TO FORM: <br /> <br /> Scott P. Foster, City Attorney <br /> <br /> After discussion by the Board, Boardmember Dick Amis made a motion, <br /> seconded by Boardmember Jay Guest that this resolution be adopted, and the <br /> Board voted unanimously to adopt the resolution. <br /> <br /> President Rhodes stated the next item on the agenda was consideration of and <br /> action on approving and authorizing the execution of an investment agreement <br /> for participation in the Lone Star Investment Pool, designating the Pool as an <br /> agency and instrumentality, approving investment policies of the Pool, appoint <br /> authorized representatives, and designating investment officers. Mr. Rhodes <br />-- said that this item was discussed as a possible investment vehicle in order to <br /> obtain a higher interest rate. Mr. Vest stated that this fund does meet all the <br /> public investment requirements and statutes. <br /> <br /> City Attorney Scott Foster read the resolution. <br /> <br /> Resolution No. 99-003, approving and authorizing the execution of an investment <br /> agreement for participation in the Lone Star Investment Pool, designating the <br /> Pool as an agency and instrumentality, approving investment policies of the Pool, <br /> appoint authorized representatives, and designating investment officers. <br /> <br /> <br />