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448 <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 Barney Bray made <br /> a motion, seconded by Boardmember Melba Harris, 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 May. Mr. Anderson gave the financial report. Mr. Anderson <br /> stated that he would be glad to answer any questions concerning this report. <br /> Boardmember Barney Bray made a motion, seconded by Boardmember Jay <br /> Guest, that the financial report be approved as presented. The motion carried <br /> 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 stated that he <br /> had attended the regional meeting of the Northeast Texas Economic Developers <br /> Roundtable in Carthage on June 10. Mr. Vest stated that the groundbreaking at <br /> the power plant had been held this past month. Mr. Vest stated that an <br /> application has been submitted for an enterprise project for Campbell Soup on <br /> the Pace Project. <br /> <br /> President Rhodes stated that the next item was consideration of and action on a <br /> resolution approving the Annual Plan of Work to be undertaken by the Board <br /> during the fiscal year 1999/2000. Mr. Vest discussed the Annual Plan of Work for <br /> fiscal year 199912000, as well as the Annual Budget for fiscal year 1999/2000. Mr. <br /> Vest said that he would be glad to answer questions concerning these items. <br /> <br /> After discussion, Boardmember Amis requested that Mr. Anderson at a future <br /> date discuss the Board's current bonding capacity. <br /> <br /> Mr. Vest stated that in connection with the BITCO lawsuit in Federal Court last <br /> week we received a summary judgment and our Attorney Clark McCoy will file the <br /> paperwork for the summary judgement of 1.4 million dollars against BITCO. He <br /> said that the only item left is to pursue David Rhoades, who has been separated <br /> off due to legal counsel, and has fought with us all through this lawsuit. Mr. Vest <br /> stated that at some point the Board will have to decide whether to pursue this <br /> item. After discussion, it was the consensus of the Board that Mr. Vest should <br /> contact our attorney and ask him to contact Mr. Rhoades attorney regarding the <br /> negotiation of a settlement and bring this information back to the next meeting <br /> for discussion. <br /> <br /> Resolution No. 99-003A, approving the Annual Plan of Work outlining the <br /> activities, tasks, projects and programs to be undertaken by the Board during the <br /> fiscal year 1999/2000. <br /> <br /> <br />