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324 <br /> <br /> MINUTES OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> REGULAR MEETING <br /> June 10, 1998 <br /> <br /> The Paris Economic Development Corporation met in a regular meeting on <br /> Wednesday, June 10, 1998, at 4:00 P.M., in the City Hall North Annex, Meeting <br /> Room, Paris, Texas. President Curtis Fendley called the meeting to order with <br /> the following boardmembers present: Dick Amis, Michael Rhodes, and Leon <br /> Williams. Also present at this meeting were ex-officio boardmembers, Bobby <br /> Walters, Mayor Charles Neeley, County Judge Chuck Superville, Executive <br /> Director Gary Vest, City Manager Michael E. Malone and City Attorney Scott <br /> Foster. <br /> <br /> President Fendley stated that the next item on the agenda was approval of the <br /> minutes from the previous meeting of the Paris Economic Development <br /> Corporation. He asked if there were any corrections or additions to the minutes <br /> of the previous meeting and there were none. President Fendley stated since <br /> there were no corrections or additions to these minutes they stood approved as <br /> presented. <br /> <br /> President Fendley asked Gene Anderson, Director of Finance, to give the <br /> financial report. Mr. Anderson gave the May report. President Fendley asked if <br /> anyone had any questions, and there were none. Boardmember Mike Rhodes <br /> made a motion, seconded by Boardmember Dick Amis, that the financial report <br /> be approved as presented. The motion carried unanimously. <br /> <br /> President Fendley stated that the amendment to Section 4-13 of the Bylaws was <br /> passed by the City Council at their June meeting. <br /> <br /> President Fendley asked Mr. Vest to give his report. Mr. Vest discussed <br /> responses received due to the advertising program, the Precision Printing <br /> Project activities, and the activities concerning the B&W Plant property. Mr. <br /> Vest mentioned the East Texas Gulf Highway Association activities and progress <br /> made on the Green Carpet Memorial Route. <br /> <br /> President Fendley stated that the next item on the agenda concerned the <br /> execution of a contract for conducting an auction of the BITCO equipment on <br /> June 25, 1998. Mr. Fendley stated that this item was discussed at the May <br /> meeting. Mr. Vest discussed P.E.D.C.'s obligation to Investment Recovery <br /> Services who will be conducting the auction. <br /> <br /> Resolution No. 98.005, authorizing the execution of a contract with Investment <br /> Recovery Services to conduct an auction of the BITCO International Company, <br /> dba BITCO equipment on June 25, 1998. <br /> <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> <br /> RESOLUTION NO. 98-005 <br /> <br /> WHEREAS, the Paris Economic Development Corporation did heretofore, on the 16th <br /> day of August, 1995, in Resolution No. 95-014, which was amended on the 13th day of <br /> November, 1995, by Resolution No. 95-017, resolve to guarantee seventy-five percent (75 %) of <br /> the master loan made to Bits International Company, d.b.a. Bitco; and, <br /> <br /> <br />