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PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> <br /> RESOLUTION NO. 2001-002 <br /> <br /> A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PARIS <br /> ECONOMIC DEVELOPMENT CORPORATION DECLARING EXIDE <br /> CORPORATION IN BREACH OF THAT ECONOMIC INCENTIVE <br /> AGREEMENT BETWEEN THE PARIS ECONOMIC DEVELOPMENT <br /> CORPORATION AND EXIDE CORPORATION; REQUESTING THE CITY <br /> ATTORNEY TAKE ACTION WITH REGARD TO THE BREACH OF SAID <br /> CONTRACT BY EXIDE CORPORATION; MAKING OTHER FINDINGS <br /> AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN <br /> EFFECTIVE DATE. <br /> <br /> WHEREAS, the Paris Economic Development Corporation is a non-profit corporation <br />govemed by the Development Corporation Act of 1979 (the Act) and was established for the <br />purposes of promoting, assisting, and enhancing economic development; and, <br /> <br /> WHEREAS, the means and measures authorized by the Act and the assistance provided <br />therein with respect to financing are found to be in the public interest and serve a public purpose of <br />the state in promoting the welfare of the citizens of the state economically by the securing and <br />retaining of business enterprises and the resulting maintenance of a higher level of employment, <br />economic activity, and stability; and, <br /> <br /> WHEREAS, in keeping with the purposes for which the legislature enacted the Development <br />Corporation Act of 1979 and the purposes for which the voters of the City of Paris established the <br />Paris Economic Development Corporation, the PEDC did heretofore, on the 2nd day of October, <br />1997, by and through its Director of Economic Development, Gary Vest, enter into an Incentive <br />Agreement with Exide Corporation for the establishment of a warehouse operation in Paris, Texas, <br />and the maintenance of a workforce of at least twenty (20) persons for a period of at least five (5) <br />years, in consideration of the PEDC providing $20,000.00 for facility improvements; and, <br /> <br /> WHEREAS, it has come to the attention of the PEDC that Exide Corporation did, <br />October 1, 2000, cease operations in Paris, Texas, and vacate its facility at 1221 Church Street, and <br />it is now in default and breach of the terms of the aforesaid Incentive Agreement for failure to <br />maintain a workforce of at least twenty (20) persons for a period of at least five (5) years, and on <br />'other bases as the City Attorney shall determine; and, <br /> <br /> WHEREAS, the Board of Directors of the Paris Economic Development Corporation deems <br />it appropriate to request the City Attorney to take necessary and appropriate action against Exide <br />Corporation for said breach; NOW, THEREFORE, <br /> <br /> <br />