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Meetings Act, to discuss pending negotiations and commercial or financial <br /> information from business prospects regarding the following: <br /> <br /> A. Discuss financial information regarding loan guaranty for <br /> Southwestern Foundry. <br /> <br /> President Rhodes excused himself from the Executive Session due to a <br /> conflict of interest. <br /> <br /> After discussion of this item, President Rhodes returned to the Executive <br /> Session. The Board then took up Item B under the Executive Session: <br /> <br /> B. In accordance with Sec. 551.074 of the Open Meetings Act, <br /> performance evaluation of the Assistant Director. <br /> <br />At 1:25 P.M. President Rhodes announced that the Board would go back <br />into open session. <br /> <br />President Rhodes called for consideration of and action on a resolution <br />approving a guaranty loan for Southwestern Foundry. <br /> <br />After discussion, a motion was made by Director Don Wall, seconded by <br />Director Jay Guest, to table action on the resolution. The motion carried <br />unanimously. <br /> <br />President Rhodes called for consideration of and action on a possible <br />salary adjustment for the Assistant Director. <br /> <br />A motion was made by Director Jay Guest, seconded by Director Melba <br />Harris, to increase the salary of the Assistant Director by $5,000.00 per <br />annum. The motion carried unanimously. <br /> <br />President Rhodes asked if there was any other business and there being <br />none, he declared the board meeting adjourned. <br /> <br /> MICHAEL RHODES, PRESIDENT <br /> <br /> <br />