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645 <br /> Minutes of the PEDC <br /> June 12, 2001 <br /> Page 3 <br /> <br /> <br />President Rhodes asked Mr. Vest to introduce Eric Roddy, the new Assistant <br />Director for the Paris Economic Development Corporation, to the Board. <br /> <br />Mr. Vest told the Board that Eric attended Prairiland High School, Paris Junior <br />College, and graduated from Texas A&M Commerce. Mr. Vest said that Eric <br />has worked for Sears all the time he was in college, and also received a <br />scholarship from Sears to help him with his college. Mr. Vest stated that PEDC <br />was fortunate to find Eric. <br /> <br />President Rhodes called for the approval of the Annual Budget for fiscal year <br />2001-2002. <br /> <br />Mr. Vest advised that he worked with Gene Anderson to come up with the <br />budget figures. Mr. Vest discussed the revenue and expenditures with the Board <br />for fiscal year 2001-2002. Mr. Vest advised that at the end of September there <br />should be resources available in the approximate amount of $1,182,796.00. He <br />advised that the revenue that they anticipate receiving is $900,000.00, comprised <br />of sales tax revenue plus $25,000.00 in interest, along with the bond payment <br />from.Paris Packaging of $384,000.00 during the upcoming year, for total <br />resources of $2,491,796.00. Mr. Vest went over the line item expenditures with <br />the Board. <br /> <br />Resolution No. 2001-007, approving the Annual Budget for fiscal year 2001- <br />2002, was presented by City Attorney Schenk. <br /> <br />A motion was made by Director Don Wall for approval of the resolution. The <br />motion was seconded by Director Jay Guest and carried 4 ayes, 0 nays. <br /> <br /> <br />