03-E PEDC (6/5/03)MINUTES OF THE PARIS ECONOMIC DEVELOPMENT
CORPORATION SPECIAL MEETING
JUNE 5, 2003
The Paris Economic Development Corporation met in special session on
Thursday, June 5, 2003, at 12:15 P. M., at the Lamar County Chamber of
Commerce, 1125 Bonham Street, Paris, Texas. President Don Wall called the
meeting to order with the following Directors present: Rodney Bass, Mike
Dunn, Richard Severson, and Sims Norment. Also present were ex-officio
Board Members Mayor Curtis Fendley and City Manager Michael E. Malone,
Executive Director Gary Vest, City Attorney Larry W. Schenk, and Lisa Wright.
President Wall called the meeting to order at 12:15 p.m. and immediately
adjourned the public session and the Board went into closed session to consider
the following Item 2:
Closed session in accordance with Sec. 551.087 of the Open
Meetings Act, discuss possible incentives, pending negotiations,
and commercial or financial information from business prospects
and potential financing for the following:
A. Project Holt.
President Wall opened the public session at 12:51 p.m. and called for
consideration of and motion on the following resolution:
Resolution No. 2003-008, approving and authorizing the execution of a loan
agreement, promissory note, and other financing instruments associated with a
line of credit of up to $2,000,000.00 to fund an incentive agreement with C-
Tech, Inc. and other incentive and associated expenses was presented by City
Attorney Schenk.
Director Sims Norment moved that Resolution No. 2003-008 be approved,
seconded by Director Mike Dunn. There was no further discussion. Motion
carried 3-0 with Directors Rodney Bass and Richard Severson abstaining.
Paris Economic Development Corporation
June 5, 2003
Page 2
President Wall called for consideration of and motion on the following
resolution:
Resolution No. 2003-007, approving and authorizing the execution of an
incentive agreement with C-Tech, Inc. was presented by City Attorney Schenk.
Director Rodney Bass moved that Resolution No. 2003-007 be approved,
seconded by Director Sims Norment. There was no further discussion. Motion
carried 5-0.
There being no further business, the meeting was adjourned at 12:55 p.m.
DON WALL, PRESIDENT
ATTEST:
LISA WRIGHT