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281 <br /> <br /> President Fendley called for the reading of the resolution and City Attorney T.K. <br /> Haynes read the resolution. <br /> <br /> Resolution Number 97-001-Authorizing President Curtis Fendley to execute a pro <br /> forma agreement with regard to the BITCO business with Prospect No. 12-103-96 <br /> under the terms and conditions contained therein, and authorizing and directing <br /> President Curtis Fendley and Boardmember Michael R. Rhodes to negotiate <br /> acceptable terms with Prospect No. 12-103-96 for either the lease of, the purchase <br /> of, or the lease with purchase option of the BITCO building, and all other terms as <br /> may be necessary, with any and all such terms being subject to final approval by the <br /> Board of Directors of the Paris Economic Development Corporation. <br /> <br /> Boardmember Mike Rhodes made a motion, seconded by Boardmember Dick Amis <br /> to adopt the resolution as read and the motion carried unanimously. <br /> <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> <br /> RESOLUTION NO. 97-001 <br /> <br /> WHEREAS, the Paris Economic Development Corporation is in receipt of an inquiry from <br /> Prospect No. 12-103-96, and has been requested to execute a pro forma agreement in order that <br /> such prospect may proceed to investigate and propose definitive terms with regard to the Bitco <br /> business; NOW, THEREFORE, <br /> <br /> BE IT RESOLVED BY THE PARIS ECONOMIC DEVELOPMENT <br /> CORPORATION, that the President, Curtis Fendley, be, and he is hereby, authorized and <br /> directed to execute, on behalf of the Paris Economic Development Corporation, a pro forma <br /> agreement with regard to the Bitco business with Prospect No. 12-103-96 under the terms and <br /> conditions contained therein, said agreement being conditioned upon such prospect being found <br /> to possess sufficient capital; and, <br /> <br /> BE IT FURTHER RESOLVED, that the President, Curtis Fendley, and Board Member, <br /> Michael R. Rhodes, be, and they are hereby, authorized and directed to negotiate acceptable <br /> terms with Prospect No. 12-103-96 for either the lease of, the purchase of, or the lease with <br /> purchase option of the Bitco building, and all other terms as may be necessary, with any and all <br /> such terms being subject to final approval by the Board of Directors of the Paris Economic <br /> Development Corporation; and, <br /> <br /> BE IT FURTHER RESOLVED, that a copy of this resolution shall be attached to and <br /> made a part of the pro forma agreement with Prospect No. 12-I03-96. <br /> <br /> PASSED AND ADOPTED this 21st day of January, 1997. <br /> <br /> Curtis Fendley, President <br /> <br /> <br />