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<br /> <br /> <br /> Regular Council Meeting <br /> January 23, 2012 <br /> Page 10 <br /> <br /> AND KENNETH WHITE; MAKING OTHER FINDINGS AND PROVISIONS <br /> RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. <br /> <br /> Interim City Manager Gene Anderson explained that the City of Paris received a rural <br /> business enterprise grant in 2008 and part of the grant was awarded in the form of a low interest <br /> loan to Kenneth White that was executed in conjunction with a loan to Mr. White made by <br /> Lamar National Bank. Mr. Anderson said the loans were in the amount of $60,000.00 each and <br /> were used for the purchase of a building and expansion of Mr. White's business. He also said <br /> that under the program the City's loan held a second lien to the Lamar National Bank loan and <br /> that Mr. White had been making timely payment on both loans. He said the current balances of <br /> the loans were approximately $51,000.00 and $49,000.00 respectively. Mr. Anderson also said <br /> that Lamar National was proposing to loan Mr. White an additional $30,000.00 for his business <br /> and as the second lien holder, the City must agree to loan and agree to accept second lien <br /> position to the additional loan amount. <br /> <br /> A Motion to deny this item was made by Council Member Pickle and seconded by <br /> Council Member Wright. Motion carried, 6 ayes - I nay, with Council Member McCarthy <br /> casting the dissenting vote. <br /> <br /> 18. Pursuant to Section 551.071 of the Texas Government Code, Consultation with Attorney, <br /> to receive legal advice from the City Attorney about pending or contemplated litigation <br /> and/or on matters in which the duty of an attorney to his client under the Texas <br /> Disciplinary Rules of Professional Conduct of the State Bar of Texas, clearly conflict <br /> with this chapter. <br /> <br /> Mayor Hashmi convened City Council into Executive Session at 8:15 p.m. <br /> <br /> 19. Reconvene into open session and possibly take action on those matters discussed in <br /> Executive Session. <br /> <br /> Mayor Hashmi reconvened City Council into open session at 8:23 p.m. A Motion to <br /> reconsider item 16 was made by Council Member Pickle and seconded by Council Member <br /> McCarthy. A Motion to table item 16 until the next council meeting and at such time that the <br /> City Attorney had an opportunity to further research the issue. The Motion was seconded by <br /> <br /> Council Member McCarthy. Motion carried, 7 ayes - 0 nays. <br /> <br /> 20. Consider and approve future events for City Council and/or City Staff pursuant to <br /> Resolution No. 2004-081. <br /> <br /> None were referenced. <br />