Public Improvement Corporation Goodyear City Hall - La Jolla Vista (2nd floor) 1900 N. Civic Square Goodyear, AZ 85395 |
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CALL TO ORDER
President Schmelzer called the meeting to order at 4:39 p.m.
ROLL CALL
- Present:
- President Susan Schmelzer; Vice President Dennis Paschen; Board Member Brian Murphy
- Absent:
- Secretary/Treasurer John Cox; Board Member Peter Diliberti
- Staff Present:
- Chief Financial Officer Doug Sandstrom; Board Attorney Andrew McGuire; Administrative Assistant Kelli Gieszler
| PUBLIC COMMENTS |
| BUSINESS |
1.
APPROVE THE MINUTES
Approve the minutes from July 14, 2022 Public Improvement Corporation meeting
Approve the minutes from July 14, 2022 Public Improvement Corporation meeting
MOTION BY Vice President Dennis Paschen, SECONDED BY President Susan Schmelzer to APPROVE the minutes. The motion carried as follows:
- AYE:
- President Susan Schmelzer, Vice President Dennis Paschen, Board Member Brian Murphy
Passed - Unanimously
2.
Election of Officers
MOTION BY President Susan Schmelzer, SECONDED BY Vice President Dennis Paschen to elect:
Susan Schmelzer as President;
Dennis Paschen as Vice President; and,
John Cox as Secretary/Treasurer.
The motion carried as follows:
- AYE:
- President Susan Schmelzer, Vice President Dennis Paschen, Board Member Brian Murphy
Passed - Unanimously
3.
Public Improvement Corporation Updates
Doug Sandstrom, CFO, reported that there was $61,151,000.00 in outstanding debt with all accounts being current with no planned activity.
In response to a question from President Schmelzer for the debt payout schedule, Mr. Sandstrom replied with the next four years paying $5,000,000.00 per year and then moving to $9,000,000.00 per year until paid off.
In response to a question from President Schmelzer for the debt payout schedule, Mr. Sandstrom replied with the next four years paying $5,000,000.00 per year and then moving to $9,000,000.00 per year until paid off.
| INFORMATION ITEMS |
There were no information items.
| NEXT MEETING |
The next meeting will be in July 2024.
| ADJOURNMENT |
There being no further business to discuss, President Schmelzer adjourned the meeting at 4:43 p.m.
Respectfully Submitted by:
Respectfully Submitted by:
______________________________ Kelli Gieszler, Administrative Assistant |
__________________________ Susan Schmelzer, President |
Date:___________________ |