General Board Meeting called to order at 8:00 a.m. by Chairman Mr. Meyer. Present were Directors Mr. Meyer, Mr. Schloss and Mr. Bettag, Chief Svetanics and Ms. Vincent. There were no citizens of the district present. Montgomery Bank President Donald Doherty joined the meeting at 8:08 a.m.
Reason for meeting was discussion of district financial matters with Mr. Doherty. Mr. Doherty and the Board discussed the difference of cashing in District owned CD’s or transferring funds internally from account to account. Mr. Doherty will check whether there are penalties when cashing in an early CD.
Motion by Mr. Bettag to accept the suggestion by Mr. Doherty to cash in one-half of General Fund CD’s in the amount of $400,000 as outlined by Montgomery Bank, 2nd by Mr. Schloss, roll call vote Mr. Meyer aye, Mr. Schloss, aye, Mr. Bettag aye.
Mr. Doherty left the meeting at 8:50 a.m.
Motion by Mr. Bettag to adjourn general meeting at 9:00 a.m., 2nd by Mr. Schloss, roll call vote Mr. Meyer, aye, Mr. Schloss aye and Mr. Bettag aye.
Respectfully submitted,
Jerry G. Schloss, Secretary
JGS/pgv