2000-076-RES AUTHORIZING THE MAYOR AND OTHER CITY

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RESOLUTION NO. 2000-076 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, AUTHORIZING THE MAYOR AND OTHER CITY OFFICIALS TO EXECUTE ANY AND ALL DOCUMENTS NECESSARY TO THE RECEIPT AND ACCEPTANCE OF A REVOLVING LOAN FUND GRANT TO FUND SMALL AND EMERGING BUSINESSES THROUGH THE UNITED STATES DEPARTMENT OF AGRICULTURE, RURAL ECONOMIC AND COMMUNITY DEVELOPMENT DIVISION; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris did heretofore, on the 6th day of August, 1998, in Resolution No. 98-104, authorize an application to be made to the United States Department of Agriculture, Rural Economic and Community Development Division, for a Revolving Loan Fund grant; and, WHEREAS, the United States Department of Agriculture has issued its Letter of Conditions required for the award of said Revolving Loan Fund grant; and, WHEREAS, acceptance of the same by completion of Form FmHA 1942-46 <<Letter of Intent to Meet Conditions" and the conditions set forth must occur within ninety (90) days of the date of said Letter of Conditions, which occurred on May 25, 2000; and, WHEREAS, it is deemed to be in the best interests of the citizens of Paris that the City of Paris accept said grant award and fund small and emerging businesses in the City of Paris; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the Mayor and other City officials, as appropriate, shall be, and are hereby, authorized and directed to execute, on behalf of the City of Paris, the Letter of Intent to Meet Conditions and supporting documents, under the terms and conditions and in the form shown in Exhibit A, attached hereto, and any and all other documents necessary and incident to the receipt and acceptance of a Revolving Loan Fund Grant, in such amount as the City shall be qualified to receive, from the U. S. Department of Agriculture, Rural Development, to fund small and emerging businesses in the city of Paris, Texas. Section 3. That this resolution shall be effective from and after its date of passage. PASSED AND APPROVED this 12th day of June, 2000.