14-D PEDC (10/09/03) - Laserfiche WebLink

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MINUTES OF THE SPECIAL MEETING OF THE PARIS ECONOMIC DEVELOPMENT CORPORATION October 9, 2003 The Paris Economic Development Corporation met in special session on Thursday, October 9, 2003, 1:00 P.M., at Paris Junior College, Bobby R. Walters Applied Technology Building, Room 1206, 2400 Clarksville Street, Paris, Texas. President Wall called the meeting to order with the following Directors present: Richard Severson, Sims Norment and Rodney Bass. Also present were Executive Director Gary Vest, Ex-officio Members Pam Anglin, Mayor Curtis Fendley, City Manager Michael E. Malone, City Attorney Larry W. Schenk, and Assistant City Clerk Tommy Haynes. President Wall called for the approval of the minutes from the previous meeting of August 20, 2003. A motion was made by Director Bass, seconded by Director Sims, for approval of the minutes. The motion carried unanimously. President Wall called for the approval of the minutes from the previous meeting of September 18, 2003. A motion was made by Director Bass, seconded by Director Severson, for approval of the minutes. The motion carried unanimously. President Wall called for the financial report. Gene Anderson, Director of Finance, came forward presenting the sales tax payment for the year and advised that is was pretty self-explanatory. Mr. Anderson advised that they do not have the September Financials at this time so he had furnished them with a cash flow statement. He said the unusual payments made in August included the incentive payment to C-Tech of one million dollars; the new industry project, which relates to the INdustrial Park, in the amount of $23,705.00; and the TCIM incentive payment of $50,000.00. He advised that they only owe one more payment of $25,000.00 for the TCIM INcentive and it will be made in this fiscal year. Mr. Anderson said the other expenditures were routine matters.