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7 <br />r � <br />Page 2 <br />(3) The many years that have been required just to make application for <br />the loan is an indication of the elaborate set of regulations and <br />requirements we would be working under after completion of this project. <br />(4) The massive debt imposed on the City of Paris would result in <br />excessive rates that could be counter- effective in the future <br />development of Industry and population growth in our City. <br />(5) The uncertainty and extended period of the development of the Sewer <br />Plan has had a very determental effect on the normal maintenance <br />of our present facilities. <br />As a final consideration, it is our opinion-that the City of Paris will be better <br />served by the use of our own financial capabilities in future planning. A practical <br />5 year plan should be developed to make additions and improvements in our Water <br />and Sewer facilities, based on our needs of the present and forceable future. For <br />these reasons, it is our recommendation that the I & I Sewer Project be cancelled <br />immediately." <br />Mayor Burnett declared the executive session closed, and the regular session open. <br />Resolution No. 2130 resolving that all contracts authorized with Hayter Engineering <br />Inc. are hereby cancelled, and affording the contractor an opportunity for con- <br />sultation with the City Council at it's regular meeting in December was presented. <br />A motion was made by Councilman Williams, seconded by Councilman McGee approving <br />the Resolution. The motion carried 6 ayes, 1 nay, Councilman Kohls voting nay. <br />