10-H PEDC (8/20/03) - Laserfiche WebLink

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MINUTES OF THE REGULAR MEETING OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION August 20, 2003 The Paris Economic Development Corporation met in regular session on Wednesday, August 20, 2003, 4:00 P.M., at Paris Junior College, Bobby R. Walters Applied Technology Building, Room 1206, 2400 Clarksville Street. President Mike Dunn called the meeting to order with the following Directors present: Dick Severson, Sims Norment, and Rodney Bass. Also present were Executive Director Gary Vest, Ex-officio Member Bobby Walters, Pam Anglin, City Manager Michael E. Malone, City Attorney Larry W. Schenk, and City Clerk Mattie Cunningham. Vice President Dunn called for the approval of the minutes from the previous meetings of July 9, and July 23, 2003. A motion was made by Director Bass, seconded by Director Severson, for approval of the minutes as presented. The motion carried unanimously. Vice President Dunn called for the finance report. City Manager Malone advised that the Director of Finance, Gene Anderson, was not able to attend the meeting and he passed out the financial reports. City Manager Malone said that the Cash & Investments on hand as of July 1, 2003, totaled $375,877.62; the Debt Reserve and Debt I&S Cash & Investments on hand on July 1, 2003, totaled $936,244.47, for a grand total of $1,312,222.09. City Manager Malone pointed out that the Sales Tax totaled $76,369.23. He called the Board's attention to the Cash & Investments On Hand as of July 31, 2003, which was $1,396,306.96 with the Debt Reserve & Debt I&S Cash & Investments On Hand as of July 31, 2003, of $936,451.51 for a total of $2,332,758.47. A motion was made by Director Severson, seconded by Director Bass, for approval of the financial report. The motion carried unanimously. Vice President Dunn called for the Director's report. Gary Vest advised that they were still working on the Greenball Corporation,