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602 <br /> <br /> President Rhodes called for consideration of and action on a resolution regarding the <br /> breach of contract by Exide. <br /> <br />Mr. Vest explained that the incentive agreement that the Paris Economic <br />Development Corporation had with Exide required that they stay in operation in the <br />City of Paris for five years. He said they operated for three years and vacated the <br />premises in October of 2000, so they are in violation of the incentive agreement. Mr. <br />Vest further explained that the Paris Economic Development Corporation gave them <br />$20,000.00 for improvements to the facility. Mr. Vest advised that all of the <br />improvements stayed with the facility, but the agreement called for them to operate <br />at least five years. Mr. Vest said Exide is a solid corporation and he feels they will <br />try to stay with the agreement. <br /> <br />Resolution No. 2001-002, resolving that Exide Corporation has breached the <br />Incentive Agreement dated October 2, 1997 with the Paris Economic Development <br />Corporation, and the Board of Directors of the Paris Economic Development <br />Corporation does hereby request the City Attorney of the City of Paris to take any and <br />all necessary and appropriate action against Exide Corporation for it breach of <br />contract under the Incentive Agreement dated October 2, 1997, was presented. A <br />motion was made by Boardmember Melba Harris, seconded by Boardmember Jay <br />Guest, for approval of the resolution. The motion carried unanimously. <br /> <br /> <br />