2024-022 - Approving Amendments to PEDC Bylaws

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RESOLUTION N0. 2024-022 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING AMENDMENTS TO THE BYLAWS OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION REMOVING TERM LIMITS FOR MEMBERS OF THE BOARD OF DIRECTORS; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, on November 15, 1993, by Resolution No. 93-112, the City Council of the City of Paris approved the original Paris Economic Development Corporation Bylaws; and WHEREAS, Section 10.04 of the PEDC Bylaws provides that the Bylaws may at any time and from time to time be amended provided that the Board of Directors files with the City a written application approved by the affirmative vote of four (4) or more members of the voting Board requesting that the City Council approve such amendment to the Bylaws, specifying in said application the amendment or the amendments to be made; and WHEREAS, the Paris Economic Development Corporation Board of Directors met on March 19, 2024 and unanimously approved by an affirmative vote of seven (7) Directors an amendment to Article IV, Section 4.05, "Tenure," of the Bylaws to remove term limits for Directors; and WHEREAS, the Corporation has filed an application with the City requesting that the City Council approve same; and WHEREAS, the City Council finds that removing term limits for Directors will allow experienced board members to continue serving, thus significantly furthering the continuity and stability of the board's strategic direction and oversight; and, WHEREAS, Section 10.04 of the PEDC Bylaws further provides that amendments to the Corporation's Bylaws require the City Council to approve such amendments via resolution adopted by an affirmative vote of five (5) or more of its members; and WHEREAS, at its regular meeting on April 22, 2024, the City Council considered and approved the amendments to said Bylaws as set forth in Exhibit A attached hereto and incorporated by reference as if fully set forth herein by a vote of 7 ayes to 0 nays; and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, THAT: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved and are incorporated herein for all purposes.