2001-02-14-PEDC - Laserfiche WebLink

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PARIS ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO. 2001-002 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION DECLARING EXIDE CORPORATION IN BREACH OF THAT ECONOMIC INCENTIVE AGREEMENT BETWEEN THE PARIS ECONOMIC DEVELOPMENT CORPORATION AND EXIDE CORPORATION; REQUESTING THE CITY ATTORNEY TAKE ACTION WITH REGARD TO THE BREACH OF SAID CONTRACT BY EXIDE CORPORATION; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Paris Economic Development Corporation is a non-profit corporation govemed by the Development Corporation Act of 1979 (the Act) and was established for the purposes of promoting, assisting, and enhancing economic development; and, WHEREAS, the means and measures authorized by the Act and the assistance provided therein with respect to financing are found to be in the public interest and serve a public purpose of the state in promoting the welfare of the citizens of the state economically by the securing and retaining of business enterprises and the resulting maintenance of a higher level of employment, economic activity, and stability; and, WHEREAS, in keeping with the purposes for which the legislature enacted the Development Corporation Act of 1979 and the purposes for which the voters of the City of Paris established the Paris Economic Development Corporation, the PEDC did heretofore, on the 2nd day of October, 1997, by and through its Director of Economic Development, Gary Vest, enter into an Incentive Agreement with Exide Corporation for the establishment of a warehouse operation in Paris, Texas, and the maintenance of a workforce of at least twenty (20) persons for a period of at least five (5) years, in consideration of the PEDC providing $20,000.00 for facility improvements; and, WHEREAS, it has come to the attention of the PEDC that Exide Corporation did, October 1, 2000, cease operations in Paris, Texas, and vacate its facility at 1221 Church Street, and it is now in default and breach of the terms of the aforesaid Incentive Agreement for failure to maintain a workforce of at least twenty (20) persons for a period of at least five (5) years, and on 'other bases as the City Attorney shall determine; and, WHEREAS, the Board of Directors of the Paris Economic Development Corporation deems it appropriate to request the City Attorney to take necessary and appropriate action against Exide Corporation for said breach; NOW, THEREFORE,