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<br />MINUTES OF THE REGULAR MEETING OF THE PARIS ECONOMIC <br />DEVELOPMENT CORPORATION <br />April 14, 2004 <br />The Paris Economic Development Corporation met in regular session on <br />Wednesday, April 14, 2004, 4:00 P.M., at Paris Junior College, Bobby R. <br />Walters Applied Technology Building, Room 1206, 2400 Clarksville Street, <br />Paris, Texas. President Don Wall called the meeting to order with the <br />following Directors present: Mike Dunn, Richard Severson and Rodney Bass. <br />Also, present were Executive Director Gary Vest, Mayor Curtis Fendley, <br />Interim City Manager Terry Townsend, City Attorney Larry Schenk and Acting <br />City Clerk Sherian Dixon. <br />President Wall called for approval of the minutes of the meeting for January 20, <br />2004. A motion was made by Director Severson to approve the minutes. <br />Director Bass seconded the motion and it carried unanimously. <br />President Wall called for the Financial Reports for January 2004 and February <br />2004 and Gene Anderson, Director of Finance, came forward. Mr. Anderson <br />stated that the sales tax has been above average for the last three months and <br />this was a good economic indicator. <br />He stated there was minimal activity on the Cash Flow Statement for January. <br />He pointed out the Debt Payment category on the February Cash Flow <br />Statement. He explained this was a minus because it was a correction. <br />President Wall called for any questions concerning the Financial Reports. There <br />being none, Director Dunn made a motion to accept the Financial Reports. <br />Director Severson seconded the motion and it passed unanimously. <br />Executive Director Gary Vest came forward to give the Director’s Report. He <br />informed the Directors that Southwestern Foundry was in Chapter 11. He said <br />they had indicated that one of their major problems was the cost of electricity. <br />Mr. Vest had researched this and it would cost the PEDC $2500 to get TXU to <br />do an assessment of the electrical usage by the foundry and come back with <br />some cost cutting measures. Mr. Vest stated that TXU no longer performed <br /> <br />