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<br />Section 1. That the fmdings set out in the preamble to this resolution are hereby in all <br />things approved. <br /> <br />Section 2. That the Incentive Agreement between the Paris Economic Development <br />Corporation and C- Tech, Inc., attached hereto as Exhibit A, be, and the same is hereby, approved. <br /> <br />Section 3. That the borrowing of up to $2,000,000.00 from Hibernia National Bank in <br />the form of a line of credit to fund the incentives provided under the Incentive Agreement with C- <br />Tech, Inc. and to have resources available to fund other possible incentives to future prospects, <br />bearing interest at varying rates and terms as stated in the financing proposal attached hereto as <br />Exhibit B, and payable to Hibernia National Bank in accordance with the terms thereof, be, and <br />the same is hereby, approved. <br /> <br />Section 4. That this resolution shall be effective from and after its date of passage. <br /> <br />PASSED AND ADOPTED this 9th day of June, 2003. <br /> <br />ATTEST: <br /> <br /> <br />.~ <br />~~L.~.~L~~-"_Y- ~ <br />Mattie Cunningham, City Clerk <br /> <br />APPROVED AS TO FORM: <br /> <br />