2010-023 RES APPROVING REVISED BYLAWS FOR PEDC REVISED BYLAWS FOR PEDC

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(5) Shall along with the Finance Director for the City of Paris, Texas have charge and custody of and be responsible for all funds and securities of the Corporation and shall endorse on behalf of the Corporation for collection, checks, notes and other obligations and shall deposit the same to the credit of the Corporation in the depository bank designated by the City of Paris. (6) Whenever required by the Board, the Secretary-Treasurer (with the assistance of the Finance Director for the City of Paris, Texas,) shall render a statement of the Corporation's cash account; he/she shall enter regularly in the books of the Corporation a full and accurate account of the Corporation, and perform all acts incident to the position of Secretary- Treasurer, subject to the control of the Board. Such written statements and accounts of the Corporation shall be maintained and filed in the Finance Director's Office for the City of Paris, Texas. (7) The Secretary-Treasurer shall give a bond for the faithful discharge of his duties in such sum, if any, as the Board may require. (8) Shall receive and give receipts for money due and payable to the Corporation from any source whatsoever, and shall deposit all such moneys in the name of the Corporation in the depository bank designated by the City of Paris. (9) Shall assist the Executive Director with monitoring recipients of PEDC economic development funds for compliance with terms of Economic Incentive Agreements. (10) Shall, in general, perform all duties incident to that office and such other duties as from time to time may be assigned to him by the Chairman or the Board. D. The Assistant Secretaries-Treasurers, if any, shall in general, perform such duties as may be assigned to them by the Secretary-Treasurer, or by the Chairman or the Board. Section 6.05 Removal frorrc Office. Any officer elected or appointed by the Board may be removed from office by an affirmative vote of no less than four (4) members of the Board of Directors whenever in its judgment the best interests of the Corporation will be served. Section 6.06 Ex-officio "Members." The Mayor and the City Manager for the City of Paris, Texas, the Lamar County Judge, the President of Paris Junior College, the President of the Lamar County Chamber of Commerce, or their authorized designee may attend all the meetings of the Board as "Ex-Officio Members." These representatives are encouraged to attend all PEDC meetings but shall have no power to vote on matters before the Board and Ex-Officio Members may be excluded from certain executive sessions concerning personnel matters upon majority vote of the voting members of the Board. Their attendance shall be for the purpose of BYLAWS-PARIS ECONOMIC DEVELOPMENT CORPORATION 8