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PEDC Meeting <br />November 20, 2002 <br />Page 6 <br /> <br />issue. City Attorney Schenk said what he may provide is that they will not be liable <br />to the PEDC so we are the only ones accepting that limited liability. That does not <br />mean that it is in any way to be construed that we are indemnifying a third party. <br />City Attorney Schenk said if they were willing to accept that for the standpoint of our <br />ability to make a claim, then he felt this clause would do what he wanted it to do. <br /> <br />After further discussion, a motion was made by Director Fendley, seconded by <br />Director Dunn, for approval of the resolution. The motion carried unanimously. <br /> <br />President Guest announced that the Board would convene into executive session <br />pursuant to Section 551.072, Texas Government Code (The Texas Open Meetings <br />Act), to deliberate the purchase exchange, lease, or value of real property, where <br />deliberation in an open meeting would have a detrimental effect on negotiations with <br />a third person, to discuss the following: <br /> <br />A. Purchase of real property for economic development purposes. <br /> <br />President Guest declared the executive session open and the regular session closed <br />at 4:45 P. M. <br /> <br />President Guest declared the executive session closed and the regular session open <br />at 5:14 P. M. <br /> <br />President Guest called for possible action regarding the purchase of real property for <br />economic development purposes. <br /> <br />A motion was made by Director Severson, seconded by Director Dunn, authorizing <br />the Gary Vest, Executive Director of the Paris Economic Development Corporation, <br />to pursue further negotiation regarding property that would be of use for economic <br />development purposes. The motion carried unanimously. <br /> <br />There being no further business, the meeting was adjourned. <br /> <br /> <br />