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Regular Council Meeting October 10, 2022 Page 2 a. Paris Visitors & Convention Council Board of Directors (8-15-2022) b. Historic Preservation Commission (8-10-2022) c. Planning & Zoning Commission (9-13-2022) d. Paris -Lamar County Board of Health (7-18-2022) 7. Approve RESOLUTION NO. 2022-067: A RESOLUTION OF THE CITY OF PARIS, TEXAS FINDING THAT ONCOR ELECTRIC DELIVERY COMPANY LLC'S ("ONCOR" OR "COMPANY") APPLICATION TO CHANGE RATES WITHIN THE CITY SHOULD BE DENIED; FINDING THAT THE CITY'S REASONABLE RATE CASE EXPENSES SHALL BE REIMBURSED BY THE COMPANY; FINDING THAT THE MEETING AT WHICH THIS RESOLUTION IS PASSED IS OPEN TO THE PUBLIC AS REQUIRED BY LAW; REQUIRING NOTICE OF THIS RESOLUTION TO THE COMPANY AND LEGAL COUNSEL. Re ular Agenda 8. Receive presentation about Credit Access Businesses, and provide direction to staff. Assistant City Manager Rob. Vine reported that on August 12th Mayor Portugal, Pro -Tem Hughes and staff attended a Poverty Task Force meeting at Lewis Hall. He said the Mayor had placed this item on the agenda, and that staff had been collecting ordinances from other cities. He introduced Jenny Wilson with Lamar County United Way, who announced that Daryl Bulls recently went to the Reno City Council and they passed an ordinance regulating credit access businesses. Ms. Wilson introduced Ann Baddour with Texas Appleseed. Ms. Appleseed said these type of businesses were quick cash loans and were due in two week to six months. She explained they often carried balloon payments with the principal due in one lump sum which lead to a cycle of debt many times. Ms. ,Baddour said the APRs averaged 200% to 500% and that the borrowers paid more than two times the amount of their loan in just a few months. She also said there were ten of these businesses iri Paris, on average per store that $1.1 million in loan fees were collected and 22 cars liad.been repossessed in Paris. She said the owners of these companies were in the Dallas/Ft. Worth area, other large cities and even other States. Ms. Baddour explained the solutions as being a policy to create a baseline for a fair and affordable market, low-cost loan products that were affordable and accessible, and financial coaching, workforce development and other supports to help families build wealth. She said an ordinance would limit the size of payday and auto title loans based on borrower income, limit renewals or rollovers of payday and auto title loans and require each payment to reduce the loan principal by at least 25%. Ms. Baddour also said 47 cities in Texas had passed a local ordinance. Ms. Wilson said they believed an ordinance would help those living in poverty. She also said debt management classes were in the works. Council Member Savage inquired how the ordinance would be enforced. Ms. Baddour said through complaints or inspections by the City. Council Member Savage asked if the existing contracts would be enforced under this ordinance and Ms. Baddour said they would not. Council Member Savage asked Ms. Wilson about the County also passing an ordinance. She said they had spoken to the County and it would be A -typical for these businesses to move into a rural