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Regular Council Meeting January 23, 2012 'P* AND KENNETH WHITE; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. Interim City Manager Gene Anderson explained that the City of Paris received a rural business enterprise grant in 2008 and part of the grant was awarded in the form of a low interest loan to Kenneth White that was executed in conjunction with a loan to Mr. White made by Lamar National Bank. Mr. Anderson said the loans were in the amount of $60,000.00 each and were used for the purchase of a building and expansion of Mr. White's business. He also said that under the program the City's loan held a second lien to the Lamar National Bank loan and that Mr. White had been making timely payment on both loans. He said the current balances of the loans were approximately $51,000.00 and $49,000.00 respectively. Mr. Anderson also said that Lamar National was proposing to loan Mr. White an additional $30,000.00 for his business and as the second lien holder, the City must agree to loan and agree to accept second lien position to the additional loan amount. A Motion to deny this item was made by Council Member Pickle and seconded by Council Member Wright. Motion carried, 6 ayes — 1 nay, with Council Member McCarthy casting the dissenting vote. 18. Pursuant to Section 551.071 of the Texas Government Code, Consultation with Attorney, to receive legal advice from the City Attorney about pending or contemplated litigation and/or on matters in which the duty of an attorney to his client under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas, clearly conflict with this chapter. Mayor Hashmi convened City Council into Executive Session at 8:15 p.m. 19. Reconvene into open session and possibly take action on those matters discussed in Executive Session. Mayor Hashmi reconvened City Council into open session at 8:23 p.m. A Motion to reconsider item 16 was made by Council Member Pickle and seconded by Council Member McCarthy. A Motion to table item 16 until the next council meeting and at such time that the City Attorney had an opportunity to further research the issue. The Motion was seconded by Council Member McCarthy. Motion carried, 7 ayes — 0 nays. 20. Consider and approve future events for City Council and/or City Staff pursuant to Resolution No. 2004 -081. None were referenced.