EDA Minutes 1992.11.23STATE OF MN The Economic Development Authority
COUNTY OF WRIGHT of the City of Otsego met this 23
CITY OF OTSEGO day of November, 1992, following the
adjournment of the City Council
Meeting. Larry Fournier, President, Norman F. Freske, Doug
Lindenfelser, Secretary, James Barthel, 'Acting Treasurer, and
Elaine Beatty, Deputy Secretary, were present.
The meeting was called to order by President Larry
Fournier. Motion by Ron Black to rescind the motion of the
November 9, 1992, EDA Meeting to sell Bonds to the Security
State Bank of St. Michael, MN. Seconded by Floyd Roden, all
Commissioners voted in favor of the motion.
Motion by Ron Black to sell $450,000 in Bonds to the
Bank of Elk River at 6% interest with a 15 year maturity,
with the interest rate to be adjustable in 5 years and in 10
years, and callable in 5 years. Seconded by Norman F.
Freske, all Commissioners voted in favor of the motion.
Motion by Floyd Roden to hire Malcolm Watson to appraise
the City Hall Property. Seconded by Ron Black, all
Commissioners voted in favor of the motion.
On motion the meeting adjourned.
.CARRY FOURNIER, PRESIDENT
RON BLACK, COMMISSIONER
NORMAN F. FRESKE, COMMISSIONER
DOUG LINDENFELSER, COMMISSIONER
FLOYD RODEN, COMMISSIONER
Attest: Jerome Perrault, Secretary
JP/jeh