A quorum being present, this conference call meeting was called to order by President Meints at 100pm CST.
Members present include Harlan Meints,Tim Groshens, Gordy Behm, Ken Gutzwiller, Colleen O’Leary, Jim Teschendorf, and Becky Ricklefs.
The purpose of this meeting will be to obtain security funds for the Curly Leaf Pondweed project on Diamond Lake. As petitioner for the assessment, DLARA needs to agree to reimburse the MFCR Watershed District for engineering, viewing, and similar costs in the unlikely event the assessment is not approved. These security funds will be returned to DLARA as soon as the project has received the necessary approvals ~6 months from now. The proposed loan will be at a rate of approximately 3% plus the blended rate currently earned on DLARA investments at the bank.
Resolved, that the Board of Directors authorize DLARA adopt the attached banking resolution from Harvest Bank in place of any prior banking resolutions; Moved by Tim G, 2nd by Ken G., Motion passed—all Ayes.
Further Resolved, that to the extent required by law, the Board of Directors authorize that DLARA agrees to assume responsibilities for the costs incurred by the Watershed District related to the petition to create an assessment to control vegetative invasive species; Moved by Tim G., 2nd by Gordy B., Motion passed—all Ayes.
Further Resolved, that the DLARA Board of Directors authorize that DLARA borrow up to $30,000 for the proposed purchase of cashier’s check which will be deposited with the Watershed District as security for such costs. And, further that DLARA pledge sufficient current assets to cover the loan from Harvest Bank. Moved by Gordy B., 2nd by Tim G., Motion passed—all Ayes.
Discussion on having enough directors present for signatures during the winter season ensued. Motion by Jim, 2nd Ken G to add Gordy Behm to the DLARA signature card at the Harvest Bank. Motion passed—all Ayes.
Meeting adjourned
Colleen O’Leary
Secretary
