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PEDC Board Meeting Minutes <br />September 19, 2014 <br />Page 2 of 2 <br />John Brockman made a motion to continue the guarantee of a loan (line of credit) for BodyGuard <br />with Peoples Bank; the guarantee will be extended in the amount of $75,000 rather than $100,000 <br />for one year; with the term of the note being 48 months after the extension; as well as, the <br />borrowing base to be monitored by Peoples Bank at 80% of eligible receivables and all other <br />terms and conditions of the agreement will remain the same. In addition, grant them a one year <br />extension for attaining the 15 required employees which would be extended to September 1, <br />2015; seconded by David Turner. Motion Carried 5 -0. <br />John Brockman made a motion that the PEDC staff work on the Incentive for Project Powder Puff <br />to obtain quotes for a survey of 7.5 Acres on the Northwest Industrial Park to be completed by <br />October 20, 2014; seconded by David Turner. Motion Carried 5 -0. <br />David Turner made a motion to adjourn at 10:59 a.m.; seconded by Stephen Grubbs. Motion <br />Carried 5 -0. <br />Respectfully submitted, <br />Chassidi Taylor <br />Administrative Assistant <br />Paris EDC <br />