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<br /> <br /> <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> <br /> RESOLUTION NO. 2003-007 <br /> <br />A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PARIS <br />ECONOMIC DEVELOPMENT CORPORATION, APPROVING AND <br />AUTHORIZING THE EXECUTION OF AN INCENTIVE AGREEMENT <br />WITH C- TECH, INC.; MAKING OTHER FINDINGS AND PROVISIONS <br />RELATED TO THE SUBJECT; AND PROVIDING AN 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 fmancing 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 the securing and <br />retaining of 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 an <br />incentive agreement be entered into with C- Tech, Inc., subject to approval by the City Council of <br />the City of Paris; and, <br /> <br />WHEREAS, the form of the Incentive Agreement, attached hereto as Exhibit A, should, <br />in all things, be approved, and the President should be authorized to execute the same; NOW, <br />THEREFORE, <br /> <br />BE IT RESOLVED THE PARIS ECONOMIC DEVELOPMENT <br />CORPORATION: <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 form of the Incentive Agreement with C- Tech, Inc., attached hereto <br />as Exhibit A, be, and the same is hereby, approved. <br /> <br />Section 3. That the President of the Board be, and he is hereby, authorized and directed <br />to execute, on behalf of the Paris Economic Development Corporation, and subject to approval <br />by the City Council of the City of Paris, the Incentive Agreement, under the terms and conditions <br />and in the form shown in Exhibit A, attached hereto. <br />