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207 <br /> <br /> PASSED AND ADOPTED this 13th day of November, 1995. <br /> <br /> Philip R. Cecil, President <br /> <br /> ATTEST: <br /> <br /> Richard M. Amis, Secretary-Treasurer <br /> <br /> APPROVED AS TO FORM: <br /> <br /> T. K. Haynes, City Attorney <br /> <br /> The motion carried unanimously and the resolution was adopted. <br /> <br /> President Cecil stated the next agenda item was amending <br /> Resolution No. 95-014 providing that the Paris Economic <br /> Development Corporation guarantee 75% of the master loan to <br />: BITCO in the amount of approximately $360,000.00 in the event <br /> that the Small Business Administration does not become the <br /> guarantor of local banks' 7(a) Small Business Administration <br />-- loan on, or before the 20th day of November, 1995. <br /> <br /> City Attorney Haynes read the resolution. <br /> <br /> Boardmember Barney Bray entered the meeting. <br /> <br /> Boardmember Dick Amis made a motion, seconded by Boardmember <br /> Curtis Fendley to adopt the resolution. <br /> <br /> President Cecil stated that earlier in the day the banks met <br /> about this item and it was his understandinq that all seven <br /> financial institutions will be participating in this item. <br /> After discussion, President Cecil called for questions and <br /> there was none. <br /> <br /> Resolutien No. 95-017-Amending Resolution No. 95-014 providing <br /> that the Paris Economic Development Corporation guarantee 75% <br /> of the master loan to BITCO in the amount of approximately <br /> $360,000.00 in the event than the Small Business Administration <br /> does not become the guarantor of local banks' 7(a) Small <br /> Business Administration loan on, or before the 20th day of <br /> November, 1995. <br /> <br /> RESOLUTION NO. 95-017 <br /> <br /> WHEREAS, the Paris Economic Development Corporation did heretofore, on the 16th <br /> day of August, 1995, pass Resolution No. 95-014, which said Resolution requires amendment <br /> due to changing circumstances; NOW, THEREFORE, <br /> <br /> BE IT RESOLVED BY THE PARIS ECONOMIC DEVELOPMENT <br /> CORPORATION, that Resolution No. 95-014, be, and the same is hereby, amended to read <br /> as follows: <br /> <br /> "WHEREAS, the Paris Economic Development Corporation, hereinafter <br /> called PEDC, has received a request for assistance from Prospect No. 08-101-95, <br /> Bits International Company, dba Bitco, and it is deemed appropriate that such <br /> assistance be provided; NOW, THEREFORE, <br /> <br /> <br />