HomeMy WebLinkAbout05-22-1984 INDUSTRIAL DEVELOPMENT MINUTES Ii�dDUSTRIHL ?�FVELOPI�tr�ivT CORPOKATIOid �
�".ay 22, 1984
� 2:00 �.m.
The P•7eeting r,�as calle� to orc�er by t:ichar� A. Skinn�r,
�� Pttorney at Laca. Those �resent at the meeting were:
Dr. Jim Kelly, ie�r. C. `�1. Smith, t�ir. Chuck Snafer, t�7a��or
Al I�icCluskey, an� Pir. Skiv Kellogc�.
Mr. Skinner stated that there was a cou�?le of things
that he W�ould sugc�est the Board do before consider�tion
v�as given to the application. as he unc�nrstood it, the
Board has not had an organizational meeting as yet.
��r. Skinner furthpr state:� that he had nrepared and
sent t.o �'ach of them a copy of stan:�ard �sylaws that
oth�r public cor�?orations nave usec?. There was onA
blank s�?ace left on Page 1 where the regular meeting
ti?ne �aas to k�� insprted. His suggestion was that a
r�gular :n�eting date be establishec? because according
to thP Operi r-ie�tinc� La�•,, if th�re was a regular date it
�ras not necessary to nublish in tne news�aner. If a
rec�ular �ate was not established or if there was a '
special meeting, it vaas necessary to �ublish such
notice in the n�vas;?a�er .
t�•�ayor McCluskey c�uestion�d as to whether a M�eting such
as the on� being held at this time was o��en to the
� ��ublic. P�tr. Skinner statecl that it was a public
.neeting, but the Board ha� the right to treat
confidential the financial and business information
that rright be cantained in the a��plication.
r9r. Skinner further saic� that the second thing that
should be uone was to elect offic�rs of the Board. The
E3ylaws normally state that there should be at least a
Pr�sident an�3 a Secretary. For the Industrial Revenue
Bonc? proceedings and the issuance of bonds, and etc.,
it will be necessar� to have th� officers to carry on
tY?e business of ap�ropriations.
Mr. Smith inc�uired as to whether a Charter should b�
established. i1r. Skinner stat�d that this was �one
when the Ordinance vaas passed in Decer�ber of 1982.
The t�4ayor st�ted that he had gone over the Bylaws as
presented by Mr. Skinner an:a could see no reason to not
adopt them. Ther� was a brief discussion among thz
5oard meinbers on ttie Eylaws. "�r. Skinner stated that
nz would suggest obtaining an errors and omissions
insuranc�. Tne cost was ver� minimal, if anything.
The Mayor stated that hz eaould notify the City's
insurance company that he would like this particular
Board included ir thP policy.
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^�OVEU by Shaf�r, SECOivD�D py Smith that Jim Kelly �e
nominat�d as President. MOVF;D by S:nith, SEC0.�IDED by
� ��lly that Chuck Shafer b� nominatec� as Secretary. It
was t��en A"OVE� that nominations cease.
MOTIOI��S CI�RRIFD
Mr. Skinner than stated that a regular meeting date
should be establish�d. After discussion, it was
determin;d that the 4th Tuesday of each month at 2:00
p.m. �✓ould be the regular m�eting time at th� City
Council Chambers of City Hall.
Mr. Shaf�r inquired as to � a Vice President
should be elect�d. ^�1r. Skinner state : that he felt it
4aas a good idea. �OVF'D by C"cCluskey, SECONDPD by
Shafer that C. 6d. Smith 3�e el�ct�d as Vice President.
P�10TI0°d CARRIF.D
r�1r. Skinnar also suqc�este� that an Assistant Secretary
also be norminatec�. �^�[OVED by S;nith, SFCON�ED by Shaf�r
that Al vates be no�inated as Assist�nt Secretary.
i°10TION CARRI�:D
It was then i'CVED by Smith, SECOi.DED by P��cCluskey that
• thz �iylaws be accepted as tar i tten .
MOTIOi1 CARIZIEI7
rir. Skinner advise� th� 8oard that canat they have
before th�m was all or .�art of an anplication from
Kello�q's Corc�oration. Mr. Skinner stated that he
thought tha best way to start the �rocess was to ask
i�1r. Kellogg to describe the �roject for the members of
the Boarci. �:r. Shafer questioned as to why the �oard
received different copies of tne fin�ncial statem�ents.
After discussion, it c��as founc3 that �ach of them
r�ceive� a�ifferer�t set of statements. The �layor
stated that ti�is c��as his error as he thought th?re was
packets of six sent to hi�n. He would have this
corrected.
Mr. Rellec�g th�n c�ave a re�ort on }Zis business and whut
he was hoping to -:�o caith thA ��re�ent ar�plication. They
were proposing to build a neca feed �nill at a site in
Calc�well anc�d to c�o that, they were asking for t'�e
Industrial Revenue Ron;�s �ahich the buyer will be Idaho
First L3ational Pank. Mr. Kellogg also ha�� a drac��ing of
the facility tiahich he shar�d with the �oard.
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�1r. Skinner further exlaine� that tilere was a
Resolution that cvould hav� to be �assnd by th� Boar�
• an� then woul� hav� to bt a�provec� by t�e City Council.
Ti�� City Council vaill 'nave to tak` action �rior to the
tir�e that th� �onds are issue�7. A Hearing �aill also
have to b� neld before th� Council receives the
kesolution. This Hearinc� �Tas rec�uired by both the
State La�•� anr� the Fed�ral Law, tdormally, the i
woul� b� held near t'n�� same tim� as actual approval of
�o�aJ w�s ��'a�, It was not certain at tk�is time just
what dat� ;�ir. Kello��g will be back before the �oard
asking for ar��roval of the bonds.
After a lengthy discussion, Mr. Skinner c�ointed out
that basically the decision to bc :nade today was
wh�ther this pro�osal was a reasonabl� arrangements.
The form that would take woul� be passage of the
R�solution which all members of the �oard snoul� nave a
copy of. Further �iscussion then folloca�� ��ith the
statecnents in the �esolution.
MOVED by Shafer, SECOi�IDED by S�nith that Pesolution Z3o.
1 be at�opte� as present�d.
t�10TI0Pv' C��RRIED
'�r. Skinner informe�3 the �oard that his office �aould
• pre�are an esti�nate� tim� schedule of events once the
Bank has reached terms. Tnis will be circulatec� to the
13oard me�nbers anc� the '�iayor . P��r . Smi th sugges ted tha t
it be sent to the President af the �3oard, P1r. Rell
Mr. Kelly stated that he would prepare a mailing list
of all the :nembers of tne Board an� mail to �ach of
th�:n. I,r. Sl:inner inform�� the Board that he would be
notifying th��n witl�in the next thirty days.
P�10VET� by Smith, SECO�dDED by Shafer that the m�et ing be
a�journed at 3:00 p.m.
APPROVED AS tHIS DAY 0�'
, 1984.
Presi�2nt
Secretary
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