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<br />M>>tQRANDUM OF AGREFlftlIT <br /> <br />(A) Participants <br /> <br />The following entities are <br />development and implementation <br />the City of Paris. <br /> <br />party to this agreement related to the <br />of a local economic development program for <br /> <br />City of Paris <br />Chamber of Conunerce of Lamar County <br />Paris, Texas Industrial Foundation, Inc, <br />City of Paris Industrial Development Corporation <br />Lamar County Industrial Development Corporation <br />Paris Junior College <br /> <br />(B) Designation of Lead Economic Development Agency <br /> <br />The Chamber of Conunerce is designated as the Lead Economic Development <br />Agency, In this capacity the Chamber of Conunerce is responsible for the <br />development of a local economic development strategy, Such strategy will <br />be submitted to the other participants listed above for review and conunent <br />and will be submitted to the City Council for formal approval. <br /> <br />Additionally, the Chamber of Conunerce will serve as the initial point of <br />contact for businesses that are considering a location or expansion within <br />the city, The Chamber will screen the requirements of the client business <br />and assemble materials and information to address the client I s needs, <br /> <br />(C) Public Works in Support of Economic Development <br /> <br />In response to reconunendations in the local development strategy and the <br />requirements of individual businesses considering locations or expansions, <br />the City of Paris will develop and implement plans for capital <br />improvements in support of local economic development efforts. <br /> <br />(D) Purchase and Maintenance of Industrial Sites and Buildings <br /> <br />The Paris, Texas Industrial Foundation will be responsible for the <br />identification, purchase, maintenance and sale of industrial sites and <br />buildings, The Foundation will be assisted in the identification of sites <br />by the Chamber of Conunerce, <br /> <br />(E) Industrial Development Bond Financing <br /> <br />Where appropriate, the Industrial Development Authority of the City of <br />Paris or Lamar County will issue industrial development bonds in support <br />of specific projects related to the location or expansion of businesses <br />within the City. Activities shall be in accordance with the by-laws of <br />the industrial development authority and enabling state legislation. <br /> <br />EXHIBIT "A" <br />