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<br />MINUTES OF THE LAPORTE DEVELOPMENT CORPORATION <br /> <br />OCTOBER 27, 2003 <br /> <br />1. Call to Order/Introductions <br /> <br />Pat Muston called the meeting to order at 5 :07 p.m. <br /> <br />Present: Ed Matuszak, Chuck Engelken, Bill Love, Pat Muston, City Manager Debra <br />Feazelle, City Secretary Martha Gillett, Assistant City Manager/Finance Director Cynthia <br />Alexander, Assistant City Manager John Joems, Peter Griffiths, Public Works Director <br />Steve Gillett and Assistant Finance Director Mike Dolby <br /> <br />Members Absent: Bruce Meismer and Deborah Johnson <br /> <br />Others Present: None <br /> <br />2. Consider approval of Minutes of Meeting of September 4, 2002. <br /> <br />Chuck Engelken made a motion to approve the minutes as presented. Second by Peter <br />Griffiths. Motion carried unanimously. <br /> <br />Ayes: Pat Muston, Chuck Engelken, Bill Love, Ed Matuszak and Peter Griffiths <br />Nays: None <br />Abstain: None <br /> <br />3. Appointment/Election of Officers <br /> <br />Chuck Engelken made a motion to reappoint Pat Muston as President and Ed Matuszak <br />as Vice President. Second by Peter Griffiths. Motion carried unanimously. <br /> <br />Ayes: Pat Muston, Chuck Engelken, Bill Love, Ed Matuszak and Peter Griffiths <br />Nays: None <br />Abstain: None <br /> <br />4. Administer Oaths of Office <br /> <br />City Secretary Martha Gillett administered the Oaths of Office to Pat Muston and Ed <br />Matuszak. Bruce Meismer and Deborah Johnson were absent and their Oaths will be <br />administered at the next meeting. <br /> <br />5. Review 9/30/02 Financial Report <br /> <br />Assistant Finance Director Michael Dolby provided the Corporation Members with an <br />overview of the 9/30/02 Financial Report provided in the agenda packet. <br /> <br />The Section 4B Sales Tax Balance Sheet dated September 30,2002, is from the City's <br />auditors. The City's statement received the highest level of assurance, showing that our <br />books are in good shape. <br /> <br />Under assets, we have $1.7 million in cash, $423,000 investments, $150,000 receivables, <br />an accounting entry we did last year for cash receipts received in October 2002, which <br />applied to September as a receivable. The City has an undesignated balance of $2.3 <br />million. <br />