08-10-1982 Industrial Development Corporation Board of Directors Meeting

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.. ~ ~e Mr. John E. Courville, Vice Chairman and Chief Executive Officer of Bayshore National Bank of La Porte, was present at the meet- ing, to present the application for financing of Bayshore National Bank of La Porte. After extensive discussion, upon motion by .Douglas F. Latimer, Jr., seconded by John C. Longley, the. Agreement to Issue Bonds, in form attached hereto, was approved by a majority vote., with Diana S. Dearing, Douglas F. Latimer, Jr., and John C. Longley voting in favor, and W. R. Springall and Lois Compton voting against. Upon motion duly made, seconded and carried by unanimous vote, the Board of Directors designated- First City Bank of La Porte as the, Depository for corporate funds, with the stipulation that checks be signed by any two (2) of the three (3) officers of the Corporation. Ms. Bernice Youells was present, and advised the Board of her intentions to file an application for financing for Shangri-La Restaurant, to be located on New State Highway 146. Mrs. Youells was given an application form to complete and file, but no action was taken. The next. meeting of the Board of Directors a~as called for Tuesday, August 17, 1982, at which time rules and procedures of the Board are to be discussed. Upon motion duly made, seconded and carried by unanimous vote, the meeting was duly adjourned. Secretary APPROVED: President