November 11, 2009 PDF Print E-mail
Wednesday, 30 December 2009 09:13

Special Meeting of the Board of Commissioners

To Discuss Finance

CHICAGO RIDGE PARK DISTRICT

November 11, 2009

 

CALL TO ORDER

President Pratl called the meeting to order at 6:45pm.

 

ROLL CALL

The following Commissioners were present:   Crout, Lind, Conrad and Pratl.    .  Also present was Director King.

 

 PLEDGE OF ALLEGIANCE

Everyone joined in the Pledge of Allegiance.

 

PUBLIC/STAFF WISHING TO ADDRESS THE BOARD

President Pratl introduced Dave Phillips, Senior Vice President of Speer Financial and Lee Howard of Governmental Accounting.  

 

President Pratl gave the floor to Mr. Phillips.  Mr. Phillips gave his report on the sale of the General Obligation Tax Park Bonds stating that in this economy he felt that the bid from Harris was very good.  He then walked them through some other financial matters stating that the Park District has some budget flexibility which is a good position for them financially.

 

 After his report, President Pratl called for a motion to adopt the Annual Financial Report for year ending April 30, 2009, as Ordinance #2009-06.  Motion was made by Commissioner Crout and seconded by Commissioner Lind.

Roll Call:

Ayes:              Commissioner Crout, Lind, Conrad, Pratl

Nays:              None

Abstain:         None

Motion Carried.

 

President Pratl called for a motion to adopt the General Obligation Limited Tax Park Bonds, Series 2009 as Ordinance #2009-07.  Motion was made by Commissioner Lind and seconded by Commissioner Conrad.

Roll Call:

Ayes:              Commissioner Crout, Lind, Conrad, Pratl

Nays:              None

Abstain:         None

Motion Carried.

 

President Pratl called for a motion to accept the bid by Harris N.A., Chicago, Illinois for the General Obligation Limited Tax Park Bonds at 1.95%.  Motion was made by Commissioner Lind and seconded by Commissioner Crout.

Roll Call:

Ayes:              Commissioner Crout, Lind, Conrad, Pratl

Nays:              None

Abstain:         None

Motion Carried.

 

The Board thanked Mr. Phillips for his report.  He then exited the meeting.

 

President Pratl then gave the floor to Mr. Lee Howard of Governmental Accounting for his report.  He began by stating that the Board needed to make a determination as to the amount of the levy and proceeded to give his report with explanations of the caps.  He also stated that although the levy amount needed to be determined that night, there was still time to change their mind before the levy would be passed next month.  He recommended 4.9% which would be $1,913.992; however, this figure may change depending on what TIF money will be available.

 

President Pratl called for a motion to approve the 2009 levy for the determined amount of $1,913.992.  Motion was made by Commissioner Crout and seconded by Commissioner Lind.

Roll Call:

Ayes:              Commissioner Crout, Lind, Conrad, Pratl

Nays:              None

Abstain:         None

Motion Carried.

 

The Board thanked Mr. Howard for his report.  He then exited the meeting.

 

ADJOURN

A motion to adjourn at 7:10pm was made by Commissioner Lind and seconded by Commissioner Conrad.

All in favor, aye.  Motion Carried.

 

Respectfully Submitted,

 

_____Rob Lind_____________________

Rob Lind, Secretary

Chicago Ridge Park District

 

 

 

Approved by the Board of Commissioners on this 23rd day of December, 2009.

 

 

____Rob Lind__________________

Secretary

Chicago Ridge Park District    

 
Chicago Ridge Park District