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16-17 - Amend Bylaws of the Paris Economic Development Corporation & Amend Articles of Incorporation
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16-17 - Amend Bylaws of the Paris Economic Development Corporation & Amend Articles of Incorporation
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The Bylaws of the Corporation may also be amended independently at any time by the <br />City Council by adopting a resolution supported by the affirmative vote of no less than five (5) <br />members of the City Council amending said Bylaws and by delivery of the Amended Bylaws to <br />the Secretary -Treasurer of the Corporation. <br />Section 10.05 Oath. The Directors of the Corporation shall take the following oath: <br />"I, , do solemnly swear (or affirm), that I will faithfully <br />execute the duties of the office of Director of the Paris Economic Development <br />Corporation, Paris, Texas, and will to the best of my ability preserve, protect, and <br />defend the Constitution and laws of the United States and of this State and of this <br />City; and I furthermore solemnly swear (or affirm), that I have not directly nor <br />indirectly paid, offered, or promised to pay, contributed, nor promised to <br />contribute any money, or valuable thing or promised any public office or <br />employment, as a reward for the giving or withholding of a vote at the election at <br />which I was elected, or if the office is one of appointment, to secure my <br />appointment, So help me God." <br />SECTION XI <br />INDEMNITY <br />Section 11.01 Indemnity. <br />A. The Corporation shall defend, indemnify and hold its Directors and officers <br />harmless from and against any loss, claim or damages asserted against such <br />Director or officer, by action in court or otherwise, by reason of said Director or <br />officer being or having been such a Director or officer for the Corporation to the <br />fullest extent permitted under applicable Texas law. Provided, however, this <br />indemnification clause is intended to cover only those acts or omissions that were <br />made in good faith and without malicious or felonious intent. <br />B. The Corporation further agrees to indemnify, defend and hold the City of Paris, <br />Texas, its elected officials, officers, and employees harmless from and against all <br />claims and lawsuits for damages, injuries to persons (including death), property <br />damages, including loss of use and expenses (including court costs and attorney's <br />fees) arising out of or resulting from the negligent acts or omissions or intentional <br />acts or omissions of the Corporation or its Directors, officers and employees. The <br />Corporation shall waive any and all claims it may have against the City, it's <br />elected officials, officers and employees connected with, resulting from, or arising <br />out of, claims and suits covered by this indemnification provision, and agrees that <br />any insurance carrier involved shall not be entitled to subrogation under any <br />circumstances against the City of Paris, Texas, its officers, agents, and employees. <br />BYLAWS -PARIS ECONOMIC DEVELOPMENT CORPORATION <br />Updated and Approved by PEDC Board of Directors on 6-16-2020 Res. 2020-001 <br />
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