2002-009-PEDCR
PARIS ECONOMIC DEVELOPMENT CORPORATION
RESOLUTION NO. 2002-009
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PARIS
ECONOMIC DEVELOPMENT CORPORATION, APPROVING AND
AUTHORIZING THE EXECUTION OF AN INCENTIVE AGREEMENT
WITH HYDRO-CONDUIT; MAKING OTHER FINDINGS AND
PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the Paris Economic Development Corporation is a non-profit corporation
governed by the Development Corporation Act of 1979 (the Act) and was established for the
purposes of promoting, assisting, and enhancing economic development; and,
WHEREAS, the means and measures authorized by the Act and the assistance provided
therein with respect to financing are found to be in the public interest and serve a public purpose of
the state in promoting the welfare of the citizens of the state economically by the securing and
retaining of business enterprises and the resulting maintenance of a higher level of employment,
economic activity, and stability; and,
WHEREAS, in keeping with the purposes for which the legislature enacted the Development
Corporation Act of 1979 and the purposes for which the voters of the City of Paris established the
Paris Economic Development Corporation, it is deemed appropriate that a..'1 incentive agreement be
entered into with Hydro-Conduit; and,
WHEREAS, the form of the Incentive Agreement, attached hereto as Exhibit A, should, in
all things, be approved, and the President should be authorized to execute the same; NOW,
THEREFORE,
BE IT RESOLVED
CORPORATION:
BY
THE
PARIS
ECONOMIC
DEVELOPMENT
Section 1. That the findings set out in the preamble to this resolution are hereby in all things
approved.
Section 2. That the form of the Incentive Agreement with Hydro-Conduit, attached hereto
as Exhibit A, be, and the same is hereby, approved.
Section 3. That the President of Board be, and he is hereby, authorized and directed to
execute, on behalf ofthe Paris Economic Development Corporation, the Incentive Agreement, under
the terms and conditions and in the form shown in Exhibit A, attached hereto.
Section 4. That this resolution shall be effective from and after its date of passage.
PASSED AND ADOPTED this 18th day of ~
Jay Guest, President
ATTEST:
Cr-
/<
INCENTIVE AGREEMENT
STATE OF TEXAS
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KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF LAMAR
THAT, the PARIS ECONOMIC DEVELOPMENT CORPORATION, acting by and
through its President, Jay Guest, duly authorized, hereinafter called PEDC, and HYDRO-
CONDUIT, A DIVISION OF RINKER, acting by and through its General Manager, Jeffrey
Irvine, duly authorized, hereinafter called HYDRO-CONDUIT, do hereby contract and agree as
follows:
1.
HYDRO-CONDUIT agrees to construct an 8" water line to connect and serve its
existing facility located at 1545 Church Street, Paris, Texas.
2.
PEDC agrees to provide a cash grant of $5,000.00 upon the completion of such
water line.
3.
In the event that HYDRO-CONDUIT fails to complete construction of the water
line, PEDC shall not be obligated to provide the grant provided herein.
EXECUTED on this 18th day of December, 2002.
PARIS ECONOMIC DEVELOPMENT
CORPORATION
By:
Jay Guest, President
ATTEST:
Curtis Fendley, Secretary-Treasurer
APPROVED AS TO FORM:
Larry W. Schenk, City Attorney
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EXHIBIT ..A-
HYDRO-CONDUIT, a division of RINKER
By:
Jeffrey Irvine, General Manager
STATE OF TEXAS
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COUNTY OF LAMAR
BEFORE ME, the undersigned authority, on this day personally appeared JA Y GUEST,
President of the Paris Economic Development Corporation, Paris, Texas, known to me to be the
person whose name is subscribed to the foregoing instrument, and acknowledged to me that he
executed the same for the purposes and consideration therein expressed and in the capacity therein
stated.
2003.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this 18th day of December,
Notary Public, State of Texas
STATE OF TEXAS
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COUNTY OF LAMAR
BEFORE ME, the undersigned authority, on this day personally appeared JEFFREY
IRVINE, General Manager of Hydro-Conduit, a division of Rinker, known to me to be the person
whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed
the same for the purposes and consideration therein expressed and in the capacity therein stated.
2002.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this - day of December,
Notary Public, State of Texas
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