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<br />
<br /> MINUTES OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION
<br /> SPECIAL MEETING
<br />-- January 26, 2000
<br />
<br /> The Paris Economic Development Corporation met in a special meeting on
<br /> Wednesday, January 26, 2000, at 12:20 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: Dick Amis and Jay Guest. Also present were
<br /> ex-officio boardmembers Mayor Charles Neeley, Chamber Chairman Paul
<br /> Swasko, City Manager Michael E. Malone, City Attorney Larry Schenk, Executive
<br /> Director Gary Vest, and Attorney Clark McCoy.
<br />
<br /> President Rhodes stated that the first item on the agenda was a closed session in
<br /> accordance with Section 551.071 of the Open Meetings Act to seek the advice of
<br /> the attorney regarding pending litigation styled Northeast Texas Economic
<br /> Development District, Inc., Plaintiff, and Paris Economic Development
<br /> Corporation, Intervenor, v. Charles Rhoades, Willie Mae Rhoades, Steven R.
<br /> Rackley, Bits International Company, Inc., C. David Rhoades, Karen R. Rackley, R.
<br /> Gall Andrews and Roger A. Rhoades, Defendants, Cause No. 98C0187-102, 102nd
<br /> Judicial District Court, Bowie County, Texas.
<br />
<br /> The Paris Economic Development Corporation went into executive session at
<br /> 12:21 P.M.
<br />
<br /> President Rhodes reconvened the Board into open session at 12:52 P.M.
<br />
<br /> President Rhodes stated that the next item was discussion, consideration of and
<br /> action on approving and authorizing the Director of the Paris Economic
<br /> Development Corporation to execute a written compromise settlement agreement
<br /> with C. David Rhoades in that action styled Northeast Texas Economic
<br /> Development District, Inc., Plaintiff, and Paris Economic Development
<br /> Corporation, Intervenor, v. Charles Rhoades, Willie Mae Rhoades, Steven R.
<br /> Rackley, Bits International Company, Inc., C. David Rhoades, Karen R. Rackley, R.
<br /> Gail Andrews and Roger A. Rhoades, Defendants, Cause No. 98C0187-102, 102nd
<br /> Judicial District Court, Bowie County, Texas, and approving a division of funds in
<br /> the amount of 41 2/3% to the Northeast Texas Economic Development District,
<br /> Inc., (NTEDD) and the remainder to the Paris Economic Development Corporation.
<br />
<br /> Boardmember Jay Guest made a motion, seconded by Boardmember Dick Amis,
<br /> to approve the written compromise settlement agreement presented to the Board
<br /> by our attorneys in this action styled Northeast Texas Economic District, Inc.,
<br /> Plaintiff, and Paris Economic Development Corporation, Intervenor, v. C. David
<br /> Rhoades, and to authorize the Director of the Paris Economic Development
<br /> Corporation to execute our said written compromise settlement agreement
<br /> presented by our attorneys and to approve a division of funds as a result of the
<br />
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