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