16-17 - Amend Bylaws of the Paris Economic Development Corporation & Amend Articles of Incorporation

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DRAFT RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS; AMENDING THE BYLAWS OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, on November 15, 1993, by Resolution No. 93-112, the City Council of the City of Paris approved the original Paris Economic Development Corporation Bylaws; and WHEREAS, Section 10.04 of the PEDC Bylaws provides that the Bylaws may at any time and from time to time be amended provided that the Board files with the City a written application approved by the affirmative vote of four (4) members of the voting members requesting that the City approve such amendment to the Bylaws, specifying in said application the amendment or the amendments to be made; WHEREAS, Section 10.04 of the PEDC Bylaws further provides that the City Council may approve any such bylaws changes upon the affirmative votes of five (5) of its members, and such Section 10.04 further provides for amendment of the Bylaws by the Paris City Council in its sole discretion by adopting a resolution supported by the affirmative vote of no less than five (5) members of the City Council amending said Bylaws and by delivery of the Amended Bylaws to the Secretary -Treasurer of the Corporation; and WHEREAS, on June 16, 2020, the PEDC met and approved a resolution by a vote of five (5) ayes to zero (0) nays to amend the bylaws in the form set forth in the Exhibit A to its resolution and requested that the City Council approve same; and WHEREAS, at its regular meeting on June 22, 2020, considered the PEDC's resolution and request to amend its bylaws and approved the PEDC's request in whole or in part and with certain revisions thereto by adopting the amendments set forth in Exhibit 1 attached hereto and incorporated by reference as if fully set forth herein by a vote of ayes to nays; and WHEREAS, it is deemed appropriate and in the best interest of the City of Paris and its citizens that the Bylaws of the Paris Economic Development Corporation be amended as set forth in Exhibit A attached hereto. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, THAT: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the Bylaws of the Paris Economic Development Section are hereby amended to read in their entirety to reflect the language contained in Exhibit A. Section 3. This resolution shall be effective immediately upon passage.