2020-026 - Corrected - Amendment to the PEDC Articles of Incorporation

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RESOLUTION 2020-026 CORRECTED A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, ADOPTING AND APPROVING AN AMENDMENT TO THE ARTICLES OF INCORPORATION, NOW REFERRED TO AS THE CERTIFICATE OF FORMATION, OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION TO INCREASE THE SIZE OF THE BOARD OF DIRECTORS FROM FIVE (5) MEMBERS TO SEVEN (7), MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the citizens of the City of Paris did at an election held on May 1, 1993, provide for the funding of a Type A economic development corporation by the passage of a one-fourth (1/4) of one percent (1%) sales and used tax to carry out industrial development programs; and WHEREAS, on July 12, 1993, by Resolution No. 93-076, the City Council of the City of Paris adopted the Articles of Incorporation of the Paris Economic Development Corporation which Articles were subsequently accepted for filing by the Secretary of State of the State of Texas, who issued a Certificate of Incorporation on July 19, 1993; and WHEREAS, in said Articles of Incorporation, the City Council set the number of directors constituting the Board of Directors at five (5); and WHEREAS, it has become desirable for the City to increase the number of directors sitting on the Board of Directors from five (5) directors to seven (7) directors; and WHEREAS, Texas Local Government Code Sec. 501.302 of the Development Corporation Act provides that the governing body of the authorizing unit of such a corporation may amend the corporation's certificate of formation at any time by adopting the amendment by resolution and delivering the certificate of amendment to the secretary of state; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF 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 City Council of the City of Paris hereby adopts the Certificate of Amendment attached hereto as Exhibit A and incorporated herein by reference which Certificate of Amendment is in all things hereby approve. Section 3. That City Council directs the City Attorney to deliver said Certificate of Amendment to the Secretary of State's office for filing in accordance with the requirements as provided by law.