Laserfiche WebLink
<br /> <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> <br /> RESOLUTION NO. 2003-002 <br /> <br />A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PARIS <br />ECONOMIC DEVELOPMENT CORPORATION, AUTHORIZING THE <br />FINANCE DIRECTOR OF THE CITY OF PARIS TO MAKE <br />APPROPRIATE INVESTMENTS IN ORDER TO MAINTAIN THE <br />SECURITY OF PEDC FUNDS; MAKING OTHER FINDINGS AND <br />PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN <br />EFFECTIVE DATE. <br /> <br />WHEREAS, the Paris Economic Development Corporation is a non-profit corporation <br />governed by the Development Corporation Act of 1979 (the Act) and was established for the <br />purposes of promoting, assisting, and enhancing economic development; and, <br /> <br />WHEREAS, the means and measures authorized by the Act and the assistance provided <br />therein with respect to financing are found to be in the public interest and serve a public purpose <br />of the state in promoting the welfare of the citizens of the state economically by securing and <br />retaining business enterprises and the resulting maintenance of a higher level of employment, <br />economic activity, and stability; and, <br /> <br />WHEREAS, in keeping with the purposes for which the legislature enacted the <br />Development Corporation Act of 1979 and the purposes for which the voters of the City of Paris <br />established the Paris Economic Development Corporation, it is deemed appropriate that the <br />Finance Director of the City of Paris be authorized to make appropriate investments of funds that <br />are uninsured or not secured by pledged securities in order to maintain the security of PEDC <br />funds; NOW, THEREFORE, <br /> <br />BE IT RESOLVED <br />CORPORATION: <br /> <br />BY THE PARIS <br /> <br />ECONOMIC <br /> <br />DEVELOPMENT <br /> <br />Section 1. That the findings set out in the preamble to this resolution are hereby in all <br />things approved. <br /> <br />Section 2. That the Director of Finance of the City of Paris be, and he is hereby, <br />authorized and directed to make appropriate investments of funds that are uninsured or not secured <br />by pledged securities, including establishing new accounts, diversifying accounts, or taking other <br />similar actions, in order to maintain the security of PEDC funds. <br /> <br />Section 3. That this resolution shall be effective from and after its date of passage. <br />