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PEDC Board Meeting Minutes <br />June 24, 2010 <br />Discussion and possible action authorizing amendment to existing agreement and passing the <br />interest savings to Paris Packaging from the issuance and sale of Paris Econornic Development <br />Corporation Sales Tax Revenue Refunding Bonds, Taxable Series 2010. Motion was made by Fike <br />Burkhart to approve the Resolution as subrnitted; seconded by Chad Brown. Motion carried. <br />Discussion and possible action regarding the Job Retention Training Agreement benefitting Turner <br />Industries. Steve stated that Tom Glascock, Paris Plant Manager for Turner Industries was looking for a <br />vendor to donate the mig welders to Paris ISD. Dr. Pam Anglin, PJC President was also trying to locate <br />the mig welders, but that the welders should not be part of the Job Retention Training Agreement. Kent <br />Mcllyar stated that he is still working on the agreement. Pike Burkhart made a motion to table this item; <br />seconded by Chad Brown. Motion carried. <br />Discussion and possible action regarding a Resolution and Credit Agreement with Capital One <br />Bank to issue Corporate Credit Cards to the Paris Economic Development Corporation. Steve told the <br />Board that essentially this credit application was to approve a$SO,OOO line of credit to be used for PEDC <br />expenses. Pike Burkhart had a concern with the Resolution wording and wondered if Kent McIlyar could <br />amend it and have the bank accept the revised version. Dan Smith made a motion to approve the <br />documents, as submitted; seconded by Chad Brown. Motion carried. <br />The Board convened into executive session at 12:30 p.m. pursuant to Section 551.087 and Section <br />551.072 of the Texas Government Code to discuss and deliberate on the following: <br />A. Section 551.087 - Economic Development Negotiations <br />B. Section 551.072 - Real Property <br />Executive session ended at 1:50 p.m. There was no action taken as a result of executive session. <br />Dan Smith adjourned the meeting at 1:50 p.m. <br />Respectfully submitted, <br />Shannon Barrentine <br />PEDC - Comm. Dev. Specialist <br />2 <br />13 <br />