01-08-1991 (WEDC) Minutes DIRECTORS OF DEVELOPMENT CORPORATION OF WYLIE, INC.
MINUTES
JANUARY 8 , 1991
The Directors of the Development Corporation of Wylie , Inc .
met in a called session at 4 : 00 P.M. on Tuesday, January 8 ,
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 require by law. Those present were
Jim Smith, President ; James Blakey, Vice President ; Bart
Peddicord , Secretary-Treasurer ; and members Raymond Cooper
and John Yeager . Also present were City Manager, Bill
Dashner and Mayor John Akin .
Jim Smith called the meeting to order .
APPROVAL OF MINUTES OF JANUARY 8 , 1991: President Jim
Smith, made an addition to the minutes to add "City Manager"
after Bill DAshner' s name. James Blakey stated that on Page
3 the information regarding designation of Provident Bank as
the depository for the funds of the Corporation be stricken
from the minutes as it has not yet been determined if there
is a conflict of interest . A motion was made by Raymond
Cooper to approve the minutes as corrected . Seconded by
Bart Peddicord. The motion carried with all in favor .
ACCEPTANCE OF LEGAL OPINION FROM CITY ATTORNEY ON CONFLICT
OF INTEREST LAW: All members accepted the opinion of the
City' s Attorney regarding conflict of interest . Mr . James
Blakey turned in a signed conflict of interest statement
regarding his employment with Provident Bank and Mr . John
Yeager turned in a signed conflict of interest statement
regarding his insurance agency, Wylie Insurance Agency. No
vote was taken .
ACCEPTANCE OF AGREEMENT WITH CITY OF WYLIE FOR OFFICE SPACE
AND SERVICES: Motion was made by Raymond Cooper to accept
the City of Wylie' s agreement for these services . A second
was made by James Blakey. The motion carried with all in
favor .
ACCEPTANCE OF PROVIDENT BANK AS DEPOSITORY FOR FUNDS
RECEIVED FROM THE CITY: A motion was made by Raymond Cooper
that we accept Provident Bank as the depository for funds
for the Development Corporation, Inc. with funds being
collateralized when over $100 ,000 . The motion was seconded
by Bart Peddicord. James Blakey abstained from voting on
this motion . Jim Smith - in favor , Bart Peddicord - in
favor, Raymond Cooper - in favor, John Yeager - in favor .
The motion carried with four in favor .
PAGE 2 of 2
ACCEPTANCE OF CITY ' S OFFER TO ADD THEM ON PERSONAL LIABILITY
BOND UNDER THE CITY' S BOND: This was discussed and there
were no objections . City Manager , Bill Dashner was asked to
go ahead and add them on. Mr. Dashner did not feel there
would be any additional charges but if there were we would
bill them.
AUTHORIZATION TO SOLICIT BIDS FOR SURETY BONDS IN THE AMOUNT
OF $150 ,000 FOR THE PRESIDENT, VICE-PRESIDENT AND SECRETARY_
TREASURER: A motion was made by Raymond Cooper to authorize
Bart Peddicord in coordination with City' s Purchasing Agent
to solicit bids for these surety bonds . The motion was
seconded by James Blakey. John Yeager abstained from voting
on this motion. Jim Smith - in favor, James Blakey - in
favor , Bart Peddicord - in favor , RAymond Cooper - in favor .
The motion carried with four in favor .
AUTHORIZE PAYMENT TO THE CITY OF WYLIE FOR EXPENSES INCURRED
IN ORGANIZING THE DEVELOPMENT CORPORATION OF WYLIE, INC: A
motion was made by Raymond Cooper to reimburse the City for
expense in the amount of $290 .25 as per their invoice. The
motion was seconded by Bart Peddicord . The motion carried
with all in favor .
AUTHORIZE PAYMENT TO CHAMBER OF COMMERCE FOR PUBLICATIONS
USED BY THE DEVELOPMENT CORPORATION OF WYLIE , INC. :
Discussion was made to compensate the Wylie Chamber of
Commerce for the things they do that help the Development
Corporation . Further discussion was made that the
Development Corporation work closely with the Chamber of
Commerce since the two entities work in the same direction .
A motion was made by Raymond Cooper that a check for $5 ,000
be given to the Chamber of Commerce to help defer costs
involved in their preparation and printing of materials
promoting the City of Wylie . Motion was seconded by John
Yeager . Motion carried with all in favor .
There being no other matters of business for discussion , a
motion was made to adjourn with all in favor .
Minutes of the January 8 , 1991 organizational meeting
approved by the Board of Directors at its meeting on
February 12 , 1991 .
Barton Peddicord, Secretary-Treasurer