03-12-1991 (WEDC) Minutes DIRECTORS OF DEVELOPMENT CORPORATION OF WYLIE , INC.
MINUTES
MARCH 12 , 1991
The Directors of the Development Corporation of Wylie, Inc.
met in regular session at 4 : 00 P.M. on Tuesday, March 12 ,
1991 in the Conference Room at the Municipal Complex . A
quorum was present and notice of the meeting had been posted
in the time and manner required by law. Those present were
Jim Smith, President; Bart Peddicord , Secretary-Treasurer ;
James Blakey, Vice President and member John Yeager . Member
Raymond Cooper was absence . Also present were City Manager ,
Bill Dashner and Mayor John Akin .
Jim Smith called the meeting to order .
APPROVAL OF MINUTES OF FEBRUARY 12 , 1991: James Blakey
pointed out that there was a typographical error on page two
of the minutes (coloration should be corporation) . James
Blakey made a motion that the minutes of the February 12 ,
1991 meeting be accepted with the error being corrected .
The motion was seconded by John Yeager. The motion carried
with all in favor .
APPROVAL OF TREASURER REPORT: Bart Peddicord , Secretary-
Treasurer ; gave a report on the expenditures and revenues of
the Development Corporation of Wylie, Inc. He reported the
current balance to be $87 ,551 .38 . Sales tax received in
February was $22 ,234 .44 , interest received was $282 .63 and
expenditures in the amount of $829 .12 . The report was
unanimously approved .
PRESENTATION BY ROBERT ARDEN OF THE CHAMBER OF COMMERCE:
Robert Arden of the Wylie Chamber of Commerce presented a
short program on the goals of the Chamber of Commerce
pertaining to economic growth .
APPROVAL OF PAYMENT TO CITY OF WYLIE FOR MARCH RENT: John
Yeager made a motion that we pay the City of Wylie $50 . 00
for March rent as per agreement. Motion was seconded by
James Blakey. The motion was unanimously approved .
APPROVAL OF PAYMENT TO WYLIE PRINTING AND OFFICE SUPPLY:
James Blakey made a motion that we pay this invoice which
was for name badges for the Directors . Motion was made and
seconded by John Yeager .
DISCUSS AND CONSIDER AWARDING BID TO WYLIE INSURANCE AGENCY
FOR $150 ,000 LIABILITY INSURANCE: Discussion was mane about
the legality of the bid presented by Wylie Insurance Agency
for $1,545 .00 which is a 3 year prepaid premium. Mr . Smith
did not feel this was a conflict of interest . City Manager ,
Bill Dashner stated for the record that in his opinion it
was a conflict of interest even though Mr . Yeager would
abstain from voting. Mr . Yeager withdrew his bid so there
would be no chance of conflict . Abstention from voting is
the same as a yes vote under Texas law. Mr . Smith asked
Mr . Dashner to have the Purchasing Agent , Jim Holcomb to
solicit further bids for this surety bond .
RECESS REGULAR MEETING: A motion was made to recess the
regular meeting by Bart Peddicord and seconded by John
Yeager. The motion carried with all in favor .
WORKSHOP DISCUSSION OF GOALS AND OBJECTIVES: Discussion was
made regarding pledged securities at the bank. There was
also a discussion regarding the widening of State Highway
78 and State Highway 544 .
Reconvene Open Meeting.
There being no other matters of business for discussion , a
motion was made to adjourn with all in favor .
Minutes of the March 12 , 1991 regular meeting approved by
the Board of Directors at its meeting on April 9, 1991 .
Barton Peddicord, Secretary- reasurer