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PEDC Board Meeting Minutes <br />Tuesday, September 28, 2021 <br />Page 3 of 3 <br />2) Pursuant to Section 551.087 of the Texas Government Code to (1) discuss or deliberate regarding <br />commercial or financial information that the governmental body has received from a business <br />prospect that the governmental body seeks to have locate, stay, or expand in or near the territory of <br />the governmental body and with which the governmental body is conducting economic development <br />negotiations; or (2) to deliberate the offer of a financial or other incentive to a business prospect <br />described by Subdivision (1), to wit: <br />• Project Iron Horse <br />• Project Rocket X <br />• Project Fast Track <br />• Project Mustang <br />3) Section 551.071 of the Texas Government Code, Consultation with Attorney, to receive legal <br />advice from the PEDC Attorney about (1) pending or contemplated litigation and/or (2) on matters <br />in which the duty of an attorney to their client under the Texas Disciplinary Rules of Professional <br />Conduct of the State Bar of Texas clearly conflict with this chapter, regarding potential loan to <br />Paris Economic Development Corporation. <br />Chairman Bray convened the Board into Executive Session at 5:57 p.m. <br />o <br />Choi Hyena i O den Session and Consider <br />Chairr„Action on Items Discussed in Executive Session <br />man Bra reconvened the Board into Open Session at 6:31 m. <br />Mr. Fendley made the motion to approve the option agreements discussed in executive session and give Chase and <br />Josh the Authority to sign them. Mr. Homer seconded the motion. <br />Vote: 5 -ayes to 0 -nays. <br />Mr. Fendley made the motion to approve moving forward with the land acquisition and securing the financing to <br />do so as set forth in executive session and under terms of the option agreements, pending Paris City Council <br />approval. Dr. Hashmi seconded the motion. <br />Vote: 5 -ayes to 0 -nays. <br />D scuss,Future endo Ite m <br />s <br />Dr. Hashmi requested that spec buildings be on a future agenda for discussion. <br />Adjourn <br />Mr. Fendley made a motion to adjourn the meeting. Mr. Coleman seconded the motion. <br />Vote: 5 -ayes to 0 -nays <br />Mr. Bray adjourned the meeting at 6:32 p.m. <br />Respectfully submitted, <br />Y W <br />p pPtt, <br />µ <br />Stephen Kelly <br />Executive Assistant <br />Paris Economic Development Corporation <br />