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<br /> <br />commercial or financial information from business prospects and potential <br />financing for the following: <br />A. Possible Campbell Soup expansion. <br /> <br />At 1:47 P.M. President Wall declared the executive session closed and the <br />PEDC Board back in open session. <br /> <br />President Wall called for a motion to ratify the proposal to the Campbell <br />Soup Company. <br /> <br />A motion was made by Director Sims that the Paris Economic Development <br />Corporation approve the package of incentives for Campbell Soup as <br />proposed. Director Sims asked Mr. Vest to read the wording on the <br />incentive. Mr. Vest read the incentive as follows: "On the new plastic line <br />you have proposed with a capital investment of 38.7 million dollars, the <br />PEDC is offering a two million-dollar cash incentive paid to Campbell up <br />front. PEDC will require an incentive agreement that details your Capital <br />investment, the number of jobs created in a specified time, and that those jobs <br />be maintained in Paris. All of these terms and conditions are subject to <br />negotiations to the mutual satisfaction of both Campbell's and the PEDC." <br />The motion was seconded by Director Bass and carried unanimously. <br /> <br />There being not further business, the meeting was adjourned. <br /> <br /> DON WALL, PRESIDENT <br /> <br /> ATTEST: <br /> <br /> TOMMY HAYNES, ASST. CITY CLERK <br /> <br /> <br />