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MINUTES OF THE REGULAR MEETING OF THE PARIS ECONOMIC <br />DEVELOPMENT CORPORATION <br />DECEMBER 17, 2003 <br />The Paris Economic Development Corporation met in regular session on Thursday, <br />December 17, 2003, 4:00 P.M., at Paris Junior College, Bobby R. Walters Applied <br />Technology Building, Room 1206, 2400 Clarksville Street, Paris, Texas. President <br />Don Wall called the meeting to order with the following Directors present: Sims <br />Norment, Richard Severson, and Rodney Bass. Also, present were Executive <br />Director Gary Vest, City Manager Michael E. Malone, City Attorney Larry W. <br />Schenk, and City Clerk Mattie Cunningham. <br />President Wall called for the approval of the minutes from the previous meetings <br />of November 19, 2003. A motion was made by Director Norment, seconded by <br />Director Bass, for approval of the minutes as presented. The motion carried <br />unanimously. <br />President Wall called for the Financial Report from Gene Anderson, Director of <br />Finance for the City of Paris. <br />Mr. Anderson advised that the Board had been furnished with an updated sales tax <br />report and reminded the board that the collection for December will not be known <br />until February. He pointed out that the first two months of the year, the sales tax <br />collection was down, but in December it was up. He said compared to this time last <br />year they were down about three thousand. <br />Mr. Anderson said that the second page is the November cash flow report and there <br />is not anything out of the ordinary. Mr. Anderson pointed out that the line item for <br />New Industry Project of $9,089.00 were three different payments related to EPA <br />testing of property, Young Title, and gravel or some type dirt work. He said that <br />the other expenditures were routine. <br />President Wall asked if PEDC was going to award the bid for the Industrial Park or <br />are they going to wait? Will they drawn down their loan as they need the money <br />or take it all at once, or pay from cash on hand before they touch that money? Mr. <br />Vest said they have paid everything they could as they go, but they are looking at <br />three months before they have their first draw. <br />Mr. Vest said the other thing that will come into play is concrete because they <br />