09-10-1991 (WEDC) Minutes DIRECTORS OF DEVELOPMENT CORPORATION OF WYLIE , INC .
MINUTES
September 10 , 1991
The Directors of the Development Corporation of Wylie , Inc .
met in regular session at 4 : 00 P .M. on Tuesday, September
10 , 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 members John Yeager and
John Tobin and Mayor John Akin .
Jim Smith called the meeting to order .
APPROVAL OF MINUTES OF AUGUST 13 , 1991 : James Blakey made
a motion that the minutes be approved without any
corrections . John Yeager seconded the motion . 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 $178 , 926 . 90, sales tax received in
August was $ 19 , 931 . 39 , interest received was $676 .72 and
expenditures in the amount of $ 50 . 00 to the City of Wylie ,
$7 . 00 to Wylie Printing and Office Supplies and $14. 50 to
Bart Peddicord for reimbursement of postage . A motion was
made by John Yeager to approve the report . The motion was
seconded by John Tobin . The report was unanimously
approved .
DISCUSS AND CONSIDER PRESENTATION FROM DR. STUART WALLACE ,
REPRESENTING THE PIRATE BOOSTER CLUB , FOR HELP IN RESTORING
THE HIGHWAY 78 SIGN: Dr . Stuart Wallace asked the board to
assist the Booster Club in replacing the Highway 78 sign .
Dr . Wallace indicated it would cost approximately $2 , 500 to
replace the sign . He also indicated that they already had
commitments for $500 . 00 . Bart Peddicord made a motion that
the Development Corporation commit $ 1 , 000 to the Booster
Club to be used in replacing the sign. James Blakey
seconded the motion . The motion carried with all in favor .
DISCUSS AND CONSIDER SELECTION OF AUDITORS FOR FY91 ANNUAL
AUDIT: John Tobin made a motion that the Development
Corporation use the same auditors which the City of Wylie
selects to do their audit . John Yeager seconded the motion
and it carried with all in favor .
DISCUSS AND CONSIDER FORMAL ADOPTION OF AMENDMENT TO BY-LAWS
TO INCLUDE DUTIES OF SECRETARY: James Blakey made a motion
that the following amendment be adopted and become an
offical part of the bylaws of the Development Corporation :
5 .06 SECRETARY
The Secretary shall keep or cause to be kept , at the
registered office a record of the minutes of all
meetings of the Board and of any committees of the
Board . The Secretary shall also file a copy of said
Minutes with the City and the same to be given , in
accordance with the provisions of these Bylaws , or as
required by the Texas Open Meetings Act or the Texas
Open Records Act or other applicable law. The
Secretary shall be custodian of the corporate records
and seal of the Corporation , and shall keep a register
of the mailing address and street address , if
different , of each director .
John Yeager seconded the motion. It carried with all in
favor .
DISCUSS FY91 BUDGET AND TYPO ON THE AMOUNT BUDGETED FOR
PROMOTIONS : This item was for discussion only . All totals
were correct . The line item for promotions read $18 , 000 and
should have read $22 ,000 .
DISCUSS AND CONSIDER PREPARATION OF ANNUAL PLAN: This item
was for discussion only. The final annual plan should be
ready for the next meeting .
RECESS REGULAR MEETING:
WORKSHOP DISCUSSION OF GOALS AND OBJECTIVES : Goals and
objectives were discussed .
RECONVENE REGULAR MEETING
There being no other matters of business for discussion , a
motion was made by John Yeager to adjourn and seconded by
Bart Peddicord . The motion carried with all in favor .
Minutes of the September 10 , 1991 regular meeting approved
by the Board of Directors at its meeting on October 8 , 1991 .
Barton Peddicord , Secretary-Treasurer