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<br />RESOLUTION NO. 98-087 <br /> <br />WHEREAS, the Paris Economic Development Corporation (PEDC) did heretofore, on <br />the 13th day of May, 1998, in Resolution No. 98-004, authorize the Director of Economic <br />Development to submit to the Chapman Revolving Loan Fund a loan request in the amount of <br />$250,000.00; and, <br /> <br />WHEREAS, the PEDC did heretofore, in said Resolution No. 98-004, pledge its one- <br />quarter (1/4) cent economic development sales tax to the repayment of said loan; and, <br /> <br />WHEREAS, it is deemed appropriate tl1at the authorization of the City Council of the City <br />of Paris be sought with regard to such loan application; NOW, THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the <br />submittal by the Paris Economic Development Corporation to the Chapman Revolving Loan Fund <br />of a loan request in the amount of $250,000.00 be, and the same is hereby, approved; and, <br /> <br />BE IT lWmER RESOLVED, that the pledging by the PEDC of its one-quarter (1/4) <br />cent economic development sales tax to the repayment of said loan be, and the same is hereby, <br />approved. <br /> <br />PASSED AND ADOPTED this 9th day of July, 1998. <br /> <br />cM!~ <br /> <br />Charles H. Neeley, Mayo <br /> <br />ATTEST: <br /> <br />~~\l~~~ <br /> <br />Mattie Cunningham, City Clerk \ <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />Scott P. Foster, City Attorney <br />