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PARIS ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO. 2004-001 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION, AWARDING THE BID AND AUTHORIZING THE EXECUTION OF A CONTRACT FOR THE FURNISHING AND DELIVERY OF LABOR, MATERIALS, AND EQUIPMENT AND FOR PERFORMING ALL WORK REQUIRED FOR THE CONSTRUCTION OF HEARNE STREET FROM 1ST STREET S. W. TO 4TH STREET S.W., SUBJECT TO AND CONDITIONED UPON APPROVAL BY THE PARIS CITY COUNCIL; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the Pace Group did, in its Business Retention Survey and Flexible Incentive Plan for the City of Paris, dated May 12, 1994, bring to the attention of the Paris Economic Development Corporation the concern regarding access roads to Delta Logistics and Rodgers- Wade Manufacturing; and, WHEREAS, the current route used to access Delta Logistics, Rodgers-Wade Manufacturing, and warehouses in the vicinity thereof is through residential areas on streets which do not provide adequate turning space for large trucks; and significant amounts of traffic by large vehicles through residential areas not only causes deterioration to the streets but detracts from the comfort of the inhabitants of the neighborhood because of the considerable noise generated by such vehicles; and, WHEREAS, the Board of Directors of the Paris Economic Development Corporation (PEDC) deems it appropriate that the PEDC extend Hearne Street from 1st Street S. W. to 4th Street S.W. for the project entitled "PEDC Hearne Street Extension, 1999," up to the amount of $265,000.00, in order to provide an adequate route for large vehicles traveling to Rodgers-Wade and the warehouses in the vicinity thereof and to alleviate the noise and road deterioration caused by large vehicles traveling through residential areas; and, WHEREAS, the Board of Directors of the Paris Economic Development Corporation (PEDC) did heretofore, on the 13th day of September, 1999, in Resolution No. 99-007, amended by Resolution No. 99-009 on the 29th day of November, 1999, authorize the extension of Hearne Street from 1st Street S.W. to 4th Street S.W. for the project entitled "PEDC Hearne Street Extension, 1999," at a cost not to exceed $265,000.00, to be funded from the Paris Economic Development Corporation Undesignated Fund Balance; and, WHEREAS, the Director of Economic Development did heretofore advertise for bids for furnishing plant, labor, materials, and equipment, and for performing all work required for the construction of Hearne Street from 1st Street S.W. to 4th Street S.W., which bids were received until 10:00 o'clock a.m., Tuesday, the 30th day of December, 2003; and,