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PARIS ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO. 2002-009 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION, APPROVING AND AUTHORIZING THE EXECUTION OF AN INCENTIVE AGREEMENT WITH HYDRO-CONDUIT; 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 governed 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, it is deemed appropriate that a..'1 incentive agreement be entered into with Hydro-Conduit; and, WHEREAS, the form of the Incentive Agreement, attached hereto as Exhibit A, should, in all things, be approved, and the President should be authorized to execute the same; NOW, THEREFORE, BE IT RESOLVED CORPORATION: BY THE PARIS ECONOMIC DEVELOPMENT Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the form of the Incentive Agreement with Hydro-Conduit, attached hereto as Exhibit A, be, and the same is hereby, approved. Section 3. That the President of Board be, and he is hereby, authorized and directed to execute, on behalf ofthe Paris Economic Development Corporation, the Incentive Agreement, under the terms and conditions and in the form shown in Exhibit A, attached hereto. Section 4. That this resolution shall be effective from and after its date of passage.